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M&A Special Report: 5 steps to winning over employees after an acquisition
Concrete actions can move people from wariness to warm embrace
A few years ago, the human resources staff of a large government contractor wanted to give a surprise welcome to a company the contractor had just acquired. Over the weekend, the HR staff went into the offices of the acquired company, removed the existing company materials from the walls and lunchroom, and put a new company coffee mug on each person’s desk.
The real surprise came Monday when the HR staff faced a backlash from outraged new employees. They had intended to send the message, “We are happy that you’ve joined our company.” The message employees heard was, “We are wiping out the corporate brand and culture you worked so hard to create.”
Getting employees to embrace a new corporate identity after an acquisition can be a tricky process. Typically, they are proud of their old company and its brand. In fact, the company’s reputation and performance are probably what made it an attractive acquisition. The last thing the buyer wants to do is diminish the value of its new asset by undermining the commitment and morale of the employees.
Every acquisition is unique, but I have found that buyers can help employees make this transition and transfer loyalties to their new company by following five mutually reinforcing principles.
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