Clear communication, cultural alignment among best practices for employers
Mergers and acquisitions can be an extremely sensitive period for organisations, especially for their workforce.
During such delicate periods, organisations run the risk of failing and integrate new talent or “acquihires,” according to Aon.
Among the challenges that organisations could face are articulating clear integration strategies, ensuring strong culture fits, addressing any pay gaps, and maintaining employee engagement.
Maggie You, head of people advisory at Aon's Asia-Pacific Human Capital Solutions practice, said clear communication will be critical in facing these challenges.
"Clear communication is key, as is the identification of any legacy issues, including workforce structure and compensation," You previously said in a previous premium feature with HRD.
Some of the measures that employers can take include designing a multi-tiered programme with guiding principles in advance of actual deals.
To help acquihires develop a strong acceptance of the organisation's goals, Aon suggested providing leadership roles, re-examining flexibility and exiting policies, as well as developing holistic retention bonus packages.
Developing cultural alignment
Employers should also establish strong cultural alignment between acquihires and the organisation, according to Aon.
To achieve this, employers should articulate to employees the different cultures and values of both merging organisations and then convey to them the desired combined culture.
Sharing a change and communication plan a day after the merge and acquisition, which contains the organisation's go-to forward culture, will be critical so employees know what to expect in the future.
Aon unveiled other challenges and best practices to address them in this premium feature with HRD.
