There are many companies that are currently operating with the same goals, the same ethos, and in many cases on is doing much better than the other. So it isn’t all that surprising that mergers are a big deal. When the abilities of the companies complement each other, it is highly likely that they may mesh well.
However, a merger or an acquisition isn’t something to take lightly. In most cases, you are better to use a company that specializes in the type of merger you are dealing with, like IBM acquisitions, for example. You call in the big guns and get it done correctly. However, if you are one of the principal parties involved in making sure that it goes off without a hitch, then here are some key points to take into consideration.
Communicate Often and Communicate Clearly
It would be best if you had both companies communicating. But not just the people in the top offices. In fact, you need all of the staff to start meshing together. However, the talks need to go deeper than that. Often there will be front runners for positions, and there will be people performing not so well.
You’ll need to be as frank as possible. This goes for the companies own strengths too. If one is strong in sales but the other in distribution, then each need to gain knowledge from the other to move forward. When those names are decided, don’t just send out a letter. Get them in and talk to them. It is going to be painful on both sides, and it is easier for the party being let go to hear it in person.
This is a crucial impact moment. Two systems will need to be synced up and make sense for everyone. Moreover, while it is likely that both companies use similar if not the same software – there might be half of the staff that needs training in the new software.
As with everything in the business world, you are going to need to work a positive angle on the merger. The business journals and journalists will want to hear about the impact. Working with a good PR company will ensure that all of the releases, media coverage and stories are working in your favor. The overview of the merge needs to be a positive one. Talk of new – larger clients, job creation, local impact, and global impact all matters.
Mergers and acquisitions can take a long time, and often there are casualties. However, the overall goal is to create a harmonious company, that has a more significant impact and can serve clients in a better way.