The merger process can be overwhelming, tense, and there are a number of factors to consider. Some of the biggest questions that arise from a merger is: How will the new organization operate? What changes will be implemented? What does this mean for employees?
However, by implementing a solid post-merger strategy, the new organization can address these questions and many more. One of the ways to ensure a successful implementation is to begin the planning phases early on in the process. In fact, it’s never too early in the deal process to begin thinking about and planning for post-merger implementation.
Read on for the five best practices for post-merger implementation.
For example, one way to kick off the post-merger implementation process is to create a resource or a content library where key documents are stored and can be accessed by team members for reference and information.
Companies that scramble to put a detailed plan in place at the last second typically end up shooting themselves in the proverbial foot, and also put themselves at an extreme disadvantage in terms of initiating a smooth transition.
This team will set the direction for the organization’s post-merger implementation, track project milestones, ensure accountability, and even implement best communication practices to ensure the organization as a whole understands what the merger means, how it will impact jobs, and how employees will be valued in the new organization.
It’s also important for teams to remember that conquering everything in one day is not only unachievable and unrealistic, it is also inefficient. Approaching milestones and action items and identifying them as long and short term goals can help teams prioritize more efficiently.
Finally, in order to ensure long-term success and productivity, each entity has its own set of values, culture, and hierarchy to bring into the new organization. However, proper planning, clear-cut communication, and defining a new culture are key to a successful post-merger implementation.