Thousands of acquisitions of technology companies result in the de facto hiring of myriad individuals into new employers every year. We analyze the effects of such deals on acquired employee (AE) retention relative to a matched sample of directly hired employees (HEs) joining the same acquirers in the same year. In a dataset with all acquisitions of VC-backed companies in the previous two decades paired to over 30 million resumes, we find that acquired employees (AEs) turnover at a much higher rate than matched, HEs. Importantly, this difference in turnover rates is larger for AEs in higher job ranks and with advanced degrees. Likewise, we show that the postacquisition departure rate is highest for AEs in critical executive, technical, business development, and sales roles.

中文翻译：

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收购员工与雇佣员工：留用还是转岗？

数以千计的科技公司收购导致事实上每年都有无数人被雇佣到新雇主中。我们分析了此类交易相对于同年加入同一收购方的直接雇用员工 (HE) 的匹配样本对收购员工 (AE) 保留的影响。在过去 20 年所有对 VC 支持的公司的收购以及超过 3000 万份简历的数据集中，我们发现收购员工 (AE) 的流动率远高于匹配的 HEs。重要的是，高级职位和高级学位的 AE离职率差异更大。同样，我们表明，关键执行、技术、业务开发和销售职位的 AE 的收购后离职率最高。