Going through a merger & acquisition is not a walk in the park for most managers and employees. Many unknowns come out of the woodwork and questions abound when two companies go through a M&A. So how should companies best deal with managing M&A employees?
Many unknowns come out of the woodwork and questions abound when two companies go through a M&A. So how should companies best deal with managing M&A employees?
It’s important for employers to first recognize the side effects that can impact employees who are facing a merger & acquisition. Many employees are naturally worried about job security. Will I lose my job? Will my role in the company change? Will I have a new boss? Will someone else be competing for my job in the future? Will company benefits change? These unknowns can lead to poor employee morale and lower productivity – especially if employee concerns aren’t addressed by management. That’s why it’s critical for employers to take the following steps to keep employee harmony during a merger & acquisition.
The most important thing for managers to do during M&As is communicate. And there’s no such thing as over-communicating. If you have no news updates to share, communicate that! Keeping open lines of communication during a merger & acquisition will help build trust with employees and ease their concerns. The more detailed you can be with your communication, the better. Share timely updates re: benefits, management changes, departmental re-organizations, new job opportunities, etc. This will help keep rumors and angst to a minimum.
Identify a New Corporate Culture
Oftentimes the merging of companies results in the merging of two very different corporate cultures. It’s important for the new organization to carefully define the new culture and give employees the opportunity to embrace and celebrate it. This can be done through team meetings, small social gatherings or company workshops. Give employees a chance to experience the culture, reinforce its values and carry out its mission.
The change that comes with a merger & acquisition isn’t always accepted with open arms. That’s why it’s important for managers to take on the role of cheerleader during a M&A. Employees need to re-energize and stay positive as they adjust to their new work environment. Providing opportunities for employees to have some fun – luncheons, contests, team-building activities – will help keep them motivated and increase productivity.
It’s not uncommon for voluntary employee turnover to happen once a M&A is announced. This can happen at all levels of the company – from hourly workers to senior management. If your organization was recently part of a merger & acquisition and you’re looking to fill roles that were vacated from turnover, A.R. Mazzotta can help. Contact us today to start the conversation. We offer services for temporary/contract staffing, temp-to-hire and direct hire.