How do people think about moving offices or head quarters for various reasons post acquisition even if they are within 10-20 miles of the target. Given the virtual and rise of remote workforce, what are some of the pros and cons in your opinion?
In my experience, working together and having the chance to share (even if not every day) the same work environment has a totally different impact in terms of team building. It is not just about working but also going at lunch together and getting to know each other. This is something that a zoom call cannot definitely replace.
I think an acquisition is a great opportunity to take a look at current office footprints and determine, if your employees (original and target) work remotely most of the time, whether you need a smaller space. It may also be a good tactic to help with the integration of your employees.
If they are just 20 miles, I don’t think moving is a good idea. This is because, of the various reasons
a. First, the offices are nearby each other so physical meetings can still go on easily.
b. Second, there needs to be “redundancy” planning in case there is a major disease outbreak in one office
c. Third, most workers work from home and so I don’t think it may be useful to incur costs to move office.