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Casual Articles - What Matters Most - Communication with Employees Is Key to a Successful M&A
1. Be on timeAlways be on time to work. Also, when you promise you are going to call at a certain time, make sure you call!2. Follow up on your promisesDo not, and I repeat do not make any promises that you cannot keep. If you make a promise you need to stick with it. Follow up on it and keep the customer informed each step of the way.3. Under Promise/Over DeliverHere is an example. When I order clothing from a certain company they always give me an estimated arrival time as 10 business days to get to me. I usually receive it in 5 days and I'm thrilled because I received it earlier. If they tell me 10 days and it takes 10 days I'm still happy but definitely happier if it's waiting at my door in 5 days. What if it takes 15? I am not a happy customer. Maybe I needed it for an occasion and now I have nothing to wear. Under promise/over deliver!4. Go the extra mileIf you have to do a little extra...DO IT!!! If a customer ne
Focusing on M&A's Human Dimension
One of the most important re
According to the U.S. Census Bureau, there are more than 10 million self-employed workers in the United States and that number is increasing - for good reason. Being your own boss means not worrying you'll be laid off or fired. It allows you to create your own work schedule. It holds out the promise of great financial reward. It frees you from having to attend mind-numbing staff meetings. In short, self-employment lets you call the shots.Being your own boss is not, however, without significant challenges. Potential concerns include, but are not limited to: Lack of financial security or predictabilityIsolation from peers or co-workersLack of clarity about job demands and expectations. Related social and emotional challenges include: Tolerating financial uncertaintyFinding the right balance between business and leisureObtaining much-needed support and encouragement from friends, family and peersCombating those feelings of loneliness and isolation that can lead to
A merger means that two previously separate organizations are combined into a third, new entity. An acquisition involves the purchase of one organization for incorporation into the new parent firm.
Too many companies enter into M&A activity without recognizing the impact on the organization and the overall affect on the human element within the two merging companies. M&A activities that do not meet corporate objectives can result in lost revenue, customer dissatisfaction, and employee attrition issues.
M&A researchers, consultants, and internal practitioners agree that using transition teams, an integration manager, and a comprehensive employee communications strategy rank among the best practices. Supporting best practices include; implementing strong communication skills, having an unwavering commitment to the integration, being open with employees, and making visible movements towards integration milestones and 100-day goals to help increase the success of merger and acquisition activity.
M&A integration examines all the tasks and plans required to successfully bring the two companies together. When an intended M&A transaction is announced, employees of both companies expect change. The early days following the deal's close are a critical time for the company to initiate integration of the organization, processes, people, and systems.
Focusing on M&A's Human Dimension
One of the most important re
Leaders achieve goals in cooperation with and through the actions of the people in their organization. Effective CEOs encourage their employees’ personal success because they understand that personal success translates into organizational success. They know that successful people build successful organizations.Three characteristics of successful people are:• Goal directionThey know where they stand, where they want to go and have a plan to get there.• Self motivationAs self starters, they wind their own clock.• Positive mental attitudeSuccessful people look for ways to complete tasks. They focus on strengths and break self-imposed limitations created by low self esteem.These traits are interrelated. Strengthen one and you strengthen them all. Success breeds more success through increasing momentum.Goal Direction:A much quoted study found that the three percent of the population who created a specific written plan became not only financially independent but out produced those with only general goals by 10 to 100 times.<
A merger means that two previously separate organizations are combined into a third, new entity. An acquisition involves the purchase of one organization for incorporation into the new parent firm.
Too many companies enter into M&A activity without recognizing the impact on the organization and the overall affect on the human element within the two merging companies. M&A activities that do not meet corporate objectives can result in lost revenue, customer dissatisfaction, and employee attrition issues.
M&A researchers, consultants, and internal practitioners agree that using transition teams, an integration manager, and a comprehensive employee communications strategy rank among the best practices. Supporting best practices include; implementing strong communication skills, having an unwavering commitment to the integration, being open with employees, and making visible movements towards integration milestones and 100-day goals to help increase the success of merger and acquisition activity.
M&A integration examines all the tasks and plans required to successfully bring the two companies together. When an intended M&A transaction is announced, employees of both companies expect change. The early days following the deal's close are a critical time for the company to initiate integration of the organization, processes, people, and systems.
Focusing on M&A's Human Dimension
One of the most important re
Your logo and marketing materials have many jobs, but one of the things that they can do really well for you is to introduce you to new clients and to help those potential customers feel a connection with you and your business. Alas, many small business owners overlook this valuable role for their materials when designing them, and so any connection often happens by accident alone.Considering that the connections that most small businesses are making with their logos marketing materials, and websites are happening by accident, these businesses are actually doing rather well. But what could their business growth and sales cycle look like if they could improve the way that they connect with their ideal clients?The top 3 ways to ensure that your designs will appeal to your target audience and begin to form this connection with them are:1. Design your materials with your customer's preferences in mind. The most common mistake that small business owners make when designing their brand identities is to create the design to reflect their own tastes. I met a financial planning consult
M&A researchers, consultants, and internal practitioners agree that using transition teams, an integration manager, and a comprehensive employee communications strategy rank among the best practices. Supporting best practices include; implementing strong communication skills, having an unwavering commitment to the integration, being open with employees, and making visible movements towards integration milestones and 100-day goals to help increase the success of merger and acquisition activity.
M&A integration examines all the tasks and plans required to successfully bring the two companies together. When an intended M&A transaction is announced, employees of both companies expect change. The early days following the deal's close are a critical time for the company to initiate integration of the organization, processes, people, and systems.
Focusing on M&A's Human Dimension
One of the most important re
So, you’ve made it through the interview process and have received an offer of an employment. Congratulations! However, there are some things to consider before accepting or rejecting an offer of employment. How you reply to these questions will determine whether the job offer is really worth it:Is this a full time, part time, temporary, or contract position? As obvious as it seems, you may be getting an offer different from what you originally applied. Try to get in writing the official offer -- if it involves heavy-duty legal language consider contacting an employment specialist or an attorney for guidance.Will you be paid hourly, per diem, by the job, or by an hourly salary? How many hours are you expected to work? Does the company pay overtime? Bonuses? Profit Sharing? Is this position with a "91" operator [meaning lengthy crew duty days] or with a 135 operator [with limited duty days]?Will you be a flight attendant? A cabin attendant? A host/hostess? Titles make a difference because the level of pay and training will depend on how high the position is. Will your new compa
M&A integration examines all the tasks and plans required to successfully bring the two companies together. When an intended M&A transaction is announced, employees of both companies expect change. The early days following the deal's close are a critical time for the company to initiate integration of the organization, processes, people, and systems.
Focusing on M&A's Human Dimension
One of the most important re
In the sign industry we commonly refer to the material that the sign is made out of as the substrate. Examples include, wood, vinyl banners, aluminum, coroplast, etc. But what many customers do not realize is that they can purchase vinyl lettering or vinyl decals and apply them directly to typical substrates themselves. Translation – saving money by buying blank substrates inexpensively at local hardware stores such as Home Depot and Lowes and avoiding the prices sign companies need to charge to apply the material. Although you do pay tax by buying locally on the substrate, you can save tax on the vinyl by ordering over the internet.What are vinyl letters and/or vinyl decals? They are letters (or images) that come prespaced according to customer specifications as words, phrases, or sentences on pre masking tape. The lettering is self adhesive and by removing the paper backing, they can be applied directly to almost any substrate, car, boat, truck, windows, snowmobiles, jet skis, vans, store fronts, etc. Make sure the surface is extremely clean and free of dust or lint. Once the lett
Focusing on M&A's Human Dimension
One of the most important resources a target organization has is its talent pool, yet the human dimension receives woefully inadequate attention during M&As. Fail to pay attention to the human dimensions and human dynamics of M&A activity, and you'll lose key talent. Organizations typically focus on a target's intellectual property and capital, while failing to recognize the capabilities and strengths of their employees, even though the latter enhance their competitive edge. As researchers Pfeffer and Tromley put it, "See the workforce as a source of strategic advantage, not just as a cost to be minimized or avoided."
Layoffs and turnover can and do happen at all levels of an organization. Approximately 25% of executives in acquired companies leave within the first year - a rate three times higher than companies not acquired. That's according to M&A researcher Jeffrey Krug, who reviewed business literature going back two decades to calculate that statistic. Another study shows that nearly one-half of senior managers in an acquired firm leave within one year, and 72% are gone within the first three years if retention efforts have not been made. (Tetenbaum, 1999).
To minimize departure rates, consider using alternative practices. When Wells Fargo made a particular acquisition, the firm undertook no reductions after an analysis of annual attrition rates suggested that recruitment would be required within six months of completing the acquisition.
How can you help prepare an organization for change? Two options include polling and surveying the employee population, and developing information and communication strat
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