Re-Engagement After a Merger
Mergers, acquisitions and corporate restructurings often fail to produce the hoped for outcomes of executives because the leadership and people component does not get addressed early on in the process of change. Synergy opportunities may exist only in the minds of the corporate leaders. Often underestimated are the consequences in morale and productivity that shake some companies to almost a complete halt. Sadly, a lack of communication about the changes taking place enable naysayers to create worst case scenarios that spread like fire throughout the workplace.
Developing an employee centered strategic M and A plan for synergy beyond the deal is key to successfully navigating the people aspect of re-engagement and corporate integration.
Corporate Wisdom consultants evaluate companies in the process of a merger by asking:
- What assumptions are being made / have been made about the merger / changes?
- What do employees need to express in order to let go of the past and move on?
- What must happen for employees to re-engage in the new combined company?
- How can executive management lead with a common vision going forward?
Recent Corporate Wisdom clients navigating changes after a merger or restructuring include: Kodak and Ofoto; Natus Medical and Several Medical Device Firms; PARC and Xerox.
Embracing and Sustaining Change
In 513 B.C., Heraclitus of Greece observed "There is nothing permanent except change." The challenge today is that change involves people, and can call up emotions, uncertainties and inconsistencies. Therefore, simply managing change is insufficient. Successful change requires leadership.
John Kotter, a Harvard OD Professor, observed the myriad difficulties associated with change efforts, distilled the common themes and turned them around in an eight step prescriptive framework. Using his book, Leading Change as a guide, we support your change efforts with a customized approach that fits your organization and company culture.
- Defrost the status quo
- Take actions that bring about change
- Anchor the changes in the corporate culture
We have successfully implemented the following formula: First, we meet with a focus group for 2-3 hours to gather confidential feedback about potential resistance, mixed messages or other change averse issues. We then cluster the feedback, and give it to the management team or guiding coalition. In this meeting, we begin to remove road blocks and we introduce the leader's role in the change process (3-4 hours). Finally, we meet for a 1/2 day training session on the change process, using Kotter's eight steps to illuminate the change work ahead. We custom build this training to reflect your organization's unique challenges with change in order to support the growth of a change ready culture.
This training class can stand alone to introduce change concepts and theories. Better yet, we can help to initiate any change process in your organization in a customized series that allows participants to vent, be understood, let go of the past, and begin to embrace the future. We then set milestones and new directions to ensure lasting change.
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