My family were walking along a main street in a better part of London last week with our 3-year old in her buggy when a lady quickly jumped out at us, concerned, pointing to a rubbish bin. The lady was anxious and wanted to warn us that the bin was alight, on fire, and we were on track to walk very close to it.
At the same time as working out your PMI approach, your organisation should also think about how you’re going to communicate your new business strategy. An M&A marketing plan should be comprehensive in its scope as it needs to convey information to a wide audience that includes shareholders, employees and customers. Your PMI marketing plan could include informative material such as press releases and brochures that will help sell the transition. Videos are a great way to talk directly to people and can be posted on your digital platforms. And then there’s social media to consider.
We’ve looked before at the significance of employee engagement in our article: How important is company culture to staff engagement? Improving employee engagement increases motivation and in turn productivity. But how can you achieve this in PMI or other disruptive scenarios?
A few years ago, I was asked to help with a troubled PMI project - the project and technical leads both demonstrated communication issues; as in they didn't listen to the tech staff from an acquired business. There were concerns that their behaviour was harming the relationship between the technology teams who had only recently met.
Every company has its own set of characteristics. These may have evolved over many years or been the same since an organisation’s inception.
A company’s character or culture is the intangible ethos that drives it as a business. It’s about how groups of people interact with each other and the values they share. Your company culture is a strong influence on how your employees do their jobs and the attitude they take towards you, their employer.
The post-merger integration phase is a tricky time for all businesses.
In this crucial period, you need your teams to be motivated – yet this is just when staff morale can drop, if not handled carefully. If one employee is feeling demotivated this negative attitude can spread to their colleagues.In a situation like this, action needs to be taken swiftly to avoid one person dragging a whole team down.
Today’s technology departments are generally made up of people from diverse backgrounds and of different ages.
When you merge two companies, it’s not just two technology environments (or more) that need to become one; you’re also bringing together groups of people from varying backgrounds. Sometimes the acquiring and acquired company can be very similar in culture and ethos - but more often they can be poles apart.
Every company’s technology environment is different because it has evolved over time. Which means, one size never fits all. Therefore, it’s always necessary to do an in-depth assessment before you plan your PMI project. If you fail to carry out this level of due diligence, hidden costs and potential delays will emerge as you progress.
Deploying the latest technology can play a significant role in the success of your post-merger integration project.