How do I keep my machinists from leaving when I tell them I am selling the shop?
Tell them yourself, before rumours do, and say plainly what you know and what you do not. Skilled machinists stay when they see a future and feel respected, so involve the key people in the handover, introduce the buyer early and never promise terms you cannot control.
Choose the moment carefully. Talk to the senior machinists first, in person, then bring in the whole shop. Explain why you are selling, what will not change right away and when you expect more news. A calm, direct message prevents guesswork, which is usually worse than the facts.
Then listen. People will ask about pay, hours, jobs and the new owner. Answer honestly, and say when you do not know. Ask your lawyer what may be said before the deal is signed, and what staff may need to be told in writing.
Look for ways to give the key machinists a stake in the outcome. Ask the buyer whether they will meet staff, say what they value and, if it suits both sides, discuss roles. Your lawyer and accountant can advise on any retention arrangement; you should not make one up on the spot. Finally, keep the shop running well. Machinists watch whether the owner still cares about the work, and a steady routine is the best reassurance you can give. Follow up in a week or so with anyone who seemed uneasy, since a second quiet conversation often does more than the first announcement.
Key takeaways
- Tell senior machinists in person first, then the whole shop, before rumours spread.
- Be honest about what is unknown, and let the buyer meet staff early.
- Ask your lawyer and accountant about any retention arrangement before you offer one.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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