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The improved economic outlook brings with it opportunities for business growth via merger and acquistion. Whilst this brings great excitement, remember that this is also a momentous and complex process. A strategic workshop with HR involvement early on can help to define how you integrate the new business and address the people issues. Points to consider: Does TUPE apply? Transfer and analysis of all employee data. Harmonsation of terms and conditions of employment? How will you retain talent and motivation during a period of change? Clarify the structure and address any areas of role duplication quickly and fairly. Identification of individual issues. The workspace itself.
Communication is key. HR and Marketing should have an agreed strategy which considers the internal focus: frequency, content, use of methods: email, notice boards, intranet, face to face, written letter etc and the opportunity for staff to be heard. You simply cannot overcommunicate during this process.
Culture and Values will be impacted no matter how closely aligned the businesses are on paper. It is not easy, nor fair, to ask a new team to simply buy into a culture and set of values thrust upon them. Engage in a review process with a cross section of staff to identify the impact of the change and what solutions there might be to integrate the teams or indeed amend the values to suit the 'new look' business.
If you are planning for, or already going through, an acquisition, do call us to talk through your plans and disucss where we can help create success.
“P3PM helped us to find a [360 degree feedback] tool which responded to our need for detailed and actionable feedback for senior staff within the business. They ensured that we were supported throughout the process. The outcomes have been tangible, with colleagues identifying clear areas for development which have been actioned and realised positive results. The process also helped us to understand the balance of skills and behavioural competencies within the senior team and tailor recruitment and development to move towards the balance we want to have. ”
We start 2020 with some certainties. We know Boris Johnson won the election and that his party will ‘Get Brexit done’ at the end of the month. However, many questions remain unanswered;
What words pop into your head as being the most significant for 2019? Obviously ‘Brexit’ will feature high up on that list. Perhaps ‘change’, ‘unrest’ and ‘rethink’ come to mind too. Last year;
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