What happens when a company experiences a merger or acquisition and how can HR help with the situation. We've broken it down for you!
HOW HR CAN BRING TEAMS TOGETHER AFTER AN ACQUISITION
"Cultural alignment between two businesses does not happen overnight. However, without forward momentum and clarity about the change process, you risk losing impetus and allowing uncertainty to fester.
One of the most effective approaches for integrating two teams is to make decisions and to deliver on them, while clearly managing the expectations of all involved. Determining a specified and realistic timeframe for this is key, with HR and business leaders best placed creating a fluid strategy that can evolve at pace as teams and people are brought along in the change process. When creating new policies and integrating employees, it’s important to highlight what isn’t changing, as well as what is, to build confidence and buy-in." Learn more
THE TOP 4 HR CONSIDERATIONS DURING AN ACQUISITION
"Mergers and acquisitions can be a way for companies to scale quickly, expand their reach, gain access to new markets and increase their bottom line. But they often come with a lot of anxiety among employees about upcoming changes. After all, acquisitions are more than a new company name or different senior leadership. They can lead to major changes in operations, which affect companies' culture and purpose.
Having been involved in multiple acquisitions, I know there are several things that HR leaders must keep in mind to ensure employee engagement and retention remain high. Here are four key considerations to make." Learn more
HOW HR CAN MANAGE EMPLOYEE EXPECTATIONS DURING A MERGER OR ACQUISITION
"Capital One announced last week a plan to acquire Discover in a $35.3 billion all-stock deal, CNBC reported. If it goes through, the acquisition would combine two of the biggest credit card companies in the world, combining over 70,000 employees into one massive new org chart. The impact of such a large merger could result in company culture clashes and reduction in workforces, according to Investopedia, that HR leaders will have to navigate. For insight on what this could look like, HR Brew talked with three consultants about what HR pros might focus on after an acquisition is announced.
There’s going to be “angst or anxiety,” said Karan Ferrell-Rhodes, organizational strategist and CHRO at consulting firm Shockingly Different Leadership. “Not because of the work ahead [or] because they’re afraid of it, but…there’s a lot of prep, scrutiny, [and] negotiations.” Learn more
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