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What are useful ways to prevent the loss of key talent or key employees following an acquisition or merger?
Many companies strategically acquire other companies with the primary intent of increasing their revenue. The belief is that the acquiring company should be able to cross-sell to customers of acquired company and vice-versa. And yet, once the company is acquired and the deal is closed, the leadership teams seem to run out of ideas on how to create a revenue generation plan of combined businesses.
On so many occasions during an integration, I have come across many reluctant participants in key roles. Some of them could be due to lack of time or resources but many of them struggled due to their softer, behavioral skills. They were simply not aligned to manage the change. Therefore, it is important that key members of integration teams are assessed on their softer skills prior to starting an integration. What’s your opinion?
What are the challenges you have faced related to Change Management in Acquiring companies and what strategies have you used to overcome those?
En Route Technologies, a service and solution provider in disruptive technologies Fleet Management System, GPS tracking, Telematics, IoT, Cyber Security, Access Control System, Software Defined Networking, Managed Software, CCTV, Connectivity.
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