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We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Grant Thornton offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Mergers and Acquisitions - Don’t forget the People!
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The NI job market is also buoyant, or as Forbes like to put it ‘hot’, with record levels of job vacancies being posted, and for the first time in years the unemployment level is down.
It’s not surprising then that mergers and acquisitions are also hitting record levels, with a predicted $6 trillion of transactions globally this year, up from $3.6 trillion in 2020.
Mergers and acquisitions are an exciting time for companies. Expansion and growth are great news for business, but very often the people who helped to make these companies profitable and attractive for sale, can be an afterthought when it comes to selling the business.
Both parties in a deal are potentially liable for substantial costs if the proper due diligence isn’t properly carried out and acted upon. It’s not just a new business being acquired, but new teams of people as well.
In most if not all cases TUPE applies to any acquisition or merger. TUPE is the well-known acronym for the Transfer of Undertakings (Protection of Employment) Regulations 2006. TUPE applies in two situations, firstly when a business (or part of one) is transferred to a new entity, and secondly when a service provision change takes place.
When TUPE applies, the buyer takes on the rights, responsibilities, and liabilities of the employees who transfer under operation of law. TUPE is not an optional piece of legislation. No company is able to decide to opt out of it, and, therefore, it’s important that companies are well versed on its implications, and what to look out for when acquiring or merging.
This is important not just because of the financial implications. As you come to integrate a new workforce post-acquisition, it is vital that their experience of the new company is as positive as you can make it, so that they integrate seamlessly into your business and are as productive as possible from day one.
It is therefore imperative that HR due diligence, and proactively managing the people implications of an acquisition, is not an afterthought but rather treated as one of the fundamentals to acquiring and merging.
In our experience, businesses that include a strong people focus alongside their other due diligence work, and who manage the transfer and integration of staff in a positive and engaging way, will set themselves up for a smooth and successful merger or acquisition. Specialist advice in HR M&A can be an excellent source of support in what can be a very disruptive time for a company, but one full of opportunity if managed properly.
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Neil Hughes Neil is a Director in Grant Thornton’s People and Change Consulting practice and brings over 20 years of experience as a senior HR Professional.View Profile