How to implement change management

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  • #75239
    Alexandra
    Participant

    Hi everyone,

    I noticed change management plays a huge role in M&A.. I wonder if anyone can share best practices in implementing proper change management process.
    Do you use any tools?
    Do you establish a change management committee?

    #77488
    Jarrod Patterson
    Participant

    Thanks for this question Alexandra. I agree that change management is crucial. I don’t really have an answer as I am new to M&A myself, but hopefully my reply can bump this up in the thread and help get some response! I would be interested to know if others have focused on training their IMO in change management best practices or on having a distinct change management practice or resource that is engaged in M&A efforts.

    #77820
    Frederik Maeng
    Participant

    Good question Alexandra, I have limited experience with change management, but in my view it is about considering change management across workstreams so all changes are followed by how can we smoothen this transition?

    #77952
    Erin
    Participant

    Creating “task forces” across departments with key stakeholders as the “task force lead” has been incredibly helpful. I would suggest having stakeholders both from acquirer and acquiree to show a unified approach and gain as much buy-in across the different companies as possible. Weekly meetings for communication, an action item tracker that is reviewed weekly for accountability, and determining and discussing lessons learned are also incredibly important.

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