Change Management.
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Misalignment of leadership, failure to reach agreement on strategic priorities, no understanding on the status quo and new vision, failure to identify the risks during due diligence and coming up with a change management plan.
I’m also thinking a lot about building trust with the teams who are executing in the integration, especially the acquired team. I’ve been looking for quick wins on the customer front to get the team excited to “sell” our technology. Positive feedback goes a long way in change-management with a new team.
Common pitfalls include not planning for and including time/resources for change management, not spending time to align leadership first, not being proactive in anticipating employees’ concerns and how to mitigate and not cascading communications (i.e., so employees hear it directly from a manager/leader they know and respect. Thanks
Common pitfalls would be : The ability of the buyer and target companies to integrate in structure, leadership and culture has a huge influence on the ability of the new company to realize merger synergies and strategic benefits. Generally acquisitions trigger fear and anxiety among employees in the target firm and that these emotions like “Will I have a job?” “Will my pay and benefits change?”, “who will I report to?”, “Will I have to move?” can damage efforts to realize benefits from the deal. Delay in responding to these issues will be costly to organizational terms.
Not focusing right leadership at all levels of the organization, post merger integration is not going to be simple exercise knowing the challenges in managing the entire new systems of the company. ThanksNot having a plan that is in alignment across the organization. Change management is key and many executives believe employees are agile, flexible and will go with the flow. That may be true of some, but you need to have a plan to bring everyone on board, understand the changes and how it affects both organizations…not just the acquired company.
Change Management needs to be its own Workstream in order to see success.
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