Throwaway account for obvious reason.
I own a franchise fast food business. It is currently in escrow with another franchisee and expected to close in a month or so.
I’m neutral on all accounts but I’ve seen most of your arguments about employers who has their business sold and had to lay off staff.
I’m not doing that. The new owner will legally hire our current staff. My staff does not know about this yet. And we are waiting until a week before escrow closes.
My only concern is that I wanted to wait until the day of transfer. The reason being is that I’m afraid some of the staff will quit within a week before transfer. I don’t know how the new owner runs their business with scheduling. But I know they are by the book. While I am by the book, I’m flexible with my employees because I’m understanding and I used to be them. I’m lenient with scheduling. The employees get away with lying to me so much. But I don’t have a choice because it’s a business I need to keep running. Im selling because it’s time for me to retire and I can’t deal with the stress.
My question for all of you is: should I tell staff a week before or the day of new ownership?
Side note: I also know that it’s not my problem if employees quit with the new owners. But I just have that concern that I want it to be a smooth transition. I was told by new owners that if there’s no adequate staffing, it’ll delay the close of escrow which I don’t think they should do that right?
Thank you!
Update: why the downvotes? I’m just asking your honest opinion because obviously I care and want to support my staff as much as I can but don’t want to burn any bridges.