Mergers and acquisitions bring multiple, significant, personal changes for your people. That’s the obvious. How do you work to minimize the negative impact, and realize the full potential you’re looking to achieve in this newly formed team? That’s the hard part. But here are three ways that you can make it smoother.
Start with a vision.
Employees look first to leaders for guidance, motivation, and focus, particularly during times of organizational transition and disruption. Leaders need to be visible and aligned on message.
Regardless of the nature of the transaction, it’s essential to align cultures and values. Ensure that your leaders and your people rally around a common mission and vision.
It’s easy to treat everything around a merger or acquisition as very hush-hush. But clear and compelling communication is critical and necessary throughout the transaction lifecycle. As quickly as possible, communication needs to address these essential employee questions:
- Do I still have a job?
- What’s my pay and total compensation/rewards?
- Who is my manager?
Focus on your people.
Beneath the surface of worry and stress, most acquired employees face an unexpected sense of loss. Many personally identified with their organization, its culture, and its leadership, and feel a bit of grief as they move forward.
The desired outcome rests to a surprising degree on managing the impact on the people and processes inside both affected organizations from the day the deal is announced to well beyond the close.
At TiER1, we’ve found that addressing people’s concerns head-on, and early, allows you to then broaden their focus to your vision, purpose, business priorities, systems, work processes, and culture.
By sharing the big picture—while at the same time addressing their individual experience— you’ll help frame their perspective. That’s how you’ll get your workforce onboarded, engaged, and inspired so they want to go where the organization is headed.
A merger or acquisition isn’t just another business transaction. It’s all about people. Focus on your people and you’ll be well on your way to realizing the full potential of the deal.
Are you thinking about a merger or acquisition? If so, we’d love to chat.