Reply To: Best practices to retain talent

#114053

Bradley D. Soto
Participant

Similar to what others have said, it is vital to understand who the key employees are to be retained at the top of the organization (as they have a significant amount of influence on Target company employee retention) & immediately do two things: (1) Have these leaders serve on the Integration Team; and (2) Establish Retention Bonus plans for these individuals. For the broader employee population, clear & frequent communication from the top is essential. Town Halls & email updates are good ways to do this. Finally, it is critical that the Acquiring company’s senior leadership set some key ground rules for the integration work, including “rules of engagement” when deciding what people, processes, and technology to adopt. For example, does the Acquirer retain all existing processes or technology? Or does evaluation occur & if it is found that the Target company’s processes or technology are better, the decision is made to adopt theirs?

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