As the new owner it is necessary to understand the skills of the employees, both for their present position, as well as their potential for advancement. A new owner can cause stress on the employees. You will need to make extra effort to alleviate their worries about change. Group meetings regarding plans for the next few months may reduce speculation. Your experience in this business area may help you to start the conversation with groups of employees. Follow up one-on-one discussions regarding employee’s unique skills and aspirations will be helpful to confirm where the employee fits in the business. Engaging employees to develop a strategy to reduce skill shortages will be viewed as progressive.

Employee attitudes towards change and innovation are important. Most innovation starts with employee suggestions for small changes, perhaps based on customer feedback. As the new owner, if you listen and try new things, you will encourage change and reinforce a positive culture.