Iconex
IRIS HR Consulting ensured the smooth acquisition of this 740-employee division of a global technology company, spread over multiple countries – from individual employee paperwork and immigration requirements, to payroll and benefits.
How IRIS HR Consulting ensured the smooth acquisition of a 740-employee division, spread over multiple countries
Our client is a private equity company comprising 17 platform companies with approximately 23,000 employees, operating from over 120 facilities worldwide.
They acquired a division of a global technology company, employing over 700 people, in 21 countries, and established it as a new, standalone business, trading independently from the parent
company.
IRIS HR Consulting was brought in to manage the employee transfer, work with the purchaser and
seller senior management teams, the seller HR division, and local legal counsel benefits brokers in
each country, to ensure a smooth transition for all involved.
The project involved:
- using our knowledge and experience of this type of employment change to advise on the implications of the transaction
- advising on, preparing and issuing the appropriate paperwork to individual employees, including new employment agreements and transfer of employment letters
- supporting employee consultation processes and ensuring all legal requirements were met
- identifying any individual immigration requirements, and taking the necessary steps to ensure migrant employees could continue working in the new organization after the transaction
- drawing up an employee benefits programmes to match the previous one, establishing new insurance programmes for the purchaser, and overseeing the enrolment or transfer of all impacted employees into these programmes
- supporting the smooth data transfer of payroll and HR functions between seller and purchaser
- overall project management of the HR compliance activity, ensuring key stakeholders from all parties were always up to date on progress and milestones
- acting as the employees’ main HR point of contact to offer a seamless transition from their previous HR support.
Following the closure of the transaction, IRIS HR Consulting has been embedded in the new
company’s global HR division, providing ongoing HR and employee benefits support to anyone who needs it, and building HR policies and processes in alignment with the client’s new HR model.
IRIS offers a range of solutions to help you with Global HR. Visit our Global HR and Payroll Management solutions page to discover more about our services and systems.
