how to keep people engaged for the “long run” after integration?
Stock options and generous variable compensation are perhaps a way for executives and directors, what about the majority of the team?
Here are 3 initiatives that I found useful:
– Innovation contest. Allow everyone to share their ideas on how to innovate company products / services and rewards the top 3.
– Functional town hall meetings. Some representatives of the board, together with the function leader, meet all the people from one function (ex. Finance, Customer Service) and take questions
– Talent management | Career Progression Plans. They need to be defined and followed up
Along the lines of talent management our company offers a Manager In Training program and a Talent From Within program. I have found that if we can identify those high potential employees early on and bring them into the training programs it sets the tone across the newco. Not only do the individuals benefit from newfound opportunity, the other employees see it and this speaks volumes.
I think, communication is the first step and there are ways to keep workforce and managers engaged through positive communication about new change. There can be usual townhalls, focus groups, idea contests and work force exchange programs etc.