good question, which this is always the most questioned and answered topic. After the M&A, employees start to worry if their position is redundant or will their progress of career advancement be impacted. Human capital is always the most challenging part to be quantified during an M&A process. Human capital can sometimes be hidden until the right structure fully release the potential of the employee. Also, how the acquiring company can fully release the potential from the carry-over effect for some employees transitioning from one position to another? I think this is a million dollars answer. I only see this exercise (understanding the challenges of HR during M&A) as a continuous process and always start the questions from asking how can an employer truly see the values of an employee.