Tagged: change management
understand that once the m&a project is done, it is required the buyer to understand the seller company’s actual situation, culture and etc. but do the buyer need to understand the ground staff and operation staff? even though the ground staff might know that the company is selling away, but what kind of change management methodology that able to ensure the staff whether their job is safe, future plans for the company and etc.
There is a lot to go over on this topic but let address two points. The first is all employees are important! while some might not exist in the new culture but they should not be ignored and their possible contribution to the new company should be well analyzed. The second point is that communication should happen as soon as possible. This will ensure that employees are engaged and not at edge thinking about their future.
Great point to open up discussion.
Agree with Jubran. Having open discussions with the employees and keeping them engaged are important. Employees would have a million questions they want to ask especially to the buyer. Having a single point of contact, through the IMO that responsible for this, have served well in my experience. While there a lot of change management framework and tools, having a management team through the IMO that has strong focus on the employees, both from the seller and the buyer, would make the difference on how change is experienced on the ground.
Change management (CM) is extremely important on M&A transactions. Stakes are extremely high and many organizations rarely retain the deal value they anticipated.
There are many reasons for this, such as: poor change management (CM) process, resistance to change, no CM program, unclear change scope, lack of change advisory board,etc. Change Management CM has a key role on transactions, because it provides structure (CM organization, approach and process) to define, assess, prioritize, plan, manage and implement required changes on agreed due dates to avoid business disruptions. Depending on size and complexity of a project, change activities have to be documented in a Change Register, CM Plan or directly in the Cut-Over Plan. There are lots of CM and Project Management frameworks than can be used as part of M&A deals.
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