Three Tips for Smoother Mergers & Acquisitions
Unless you’ve already been part of a merger or an acquisition before, you might be in for a surprise by the amount of stress and chaos it can bring. On top of all the HR admin and paperwork you’ll no doubt be tasked with, you’ve also got to consider that there could be a number of conflicts between staff, ethics, visions and goals.
So if you’re preparing to merge with, or acquire, another company, then these three tips might help you along:
1. Articulate Your Company’s Culture
If you don’t have a clear vision of who you are and what you stand for, then it could quickly become distorted when the new guys move in. I’m not saying you need to impose your beliefs and values on the company you’re merging with or acquiring; but if there’s something about the way you work that really makes your company special, then make sure you know what it is – you’ll have a better chance at making it stick.
2. Communicate Clearly
Mergers and acquisitions can be confusing times for everybody who works at your company, and it’s therefore important you keep them in the loop with as much transparency as you can muster. From senior management through to junior executives, make sure everybody understand why this move is taking place, what they can expect, and how it will affect them as an employee.
3. Set Goals and Milestones
Sometimes, it might not be completely clear what this move is aiming to achieve, and as such, you have to be careful that it doesn’t send your entire organisation spiralling off in a direction that was never part of the plan. Both companies involved in the merger or acquisition should collaborate on a set of goals and milestones that they wish to achieve.
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