Change can be difficult for some people to endure. This is especially true when it comes to work. Most people develop routines at their jobs and this consistency is what helps them stay successful. Naturally, there are forces that can disrupt this and cause some setbacks. If your business is going through a major change like merging with another company, you need to take time to make sure you and your team are ready for the change. These tips on handling mergers and acquisitions can help put you in the right mindset for the transition.
Communication Is Everything
In the current day and age, employees demand transparency from the businesses they work for. People want to know what’s going on in and around the workplace, meaning you need to make communication integral to the merger process. The moment you know the acquisition is going through as planned, make a plan to inform your team. Come prepared, as you’re likely going to be hit with a ton of questions from your staff. Hold a meeting if possible, as this is a change that will merit more than an email or memo.
Establish Company Culture
Another important point to pay attention to when it comes to mergers and acquisitions is your company culture. The longer you’ve been in business, the harder it is to view your brand from an objective point of view. However, new people who come into the fold are likely to take note of the culture you’ve established. Take control of this by implementing or relaxing policies that help to make the new hires feel comfortable and increase the odds of employees coming together to create a positive atmosphere for all.
Be Prepared for Bumps
Even in a perfect world, the idea of a merger going smoothly is somewhat laughable. When you’re bringing people from another business into your employ, you can expect growing pains on both sides. New employees will compare everything to their previous place of employment. Similarly, established members of your team might lament the changes. Don’t ignore these complaints or write them off. Acknowledge and address every obstacle you encounter to make your team feel heard and increase the odds of moving past the problem sooner rather than later.
Though mergers and acquisitions can be difficult to navigate, there are plenty of ways to make the process easier for all involved. Take time to create a plan for the merger and be prepared to handle an array of new and interesting problems along your way.