Companies sometimes need to undergo big transitions to keep afloat or to be stronger. One of them is to enter into a merger. Whatever your position is, there are things you can do to have a successful merger. Here are some of them:
Settle Important Matters at the Onset
A merger’s primary concern is to see an increase in both companies’ financial assets. Thus, it is very important to look into the present status of each and what they can bring on the table. Temporary CFO firms can be a great help in this aspect. They have excellent training and ample technical skills for such transitions. You can hire them to come up with financial strategies that will work with your present reality.
Also, the management should look into the welfare of their employees. Getting into a merger often spells changes in the organizational hierarchy. Some get promoted or even laid-off. CEOs should be a few steps ahead in this aspect from anyone else. Do not let your employees have the news from the grapevine. Have transparency on how your employees will fare after the merger.
Operate on Respect
In a merger, there is a company that seems to be of greater advantage. These are the buyers. But, this should not give the license for them to impose whatever alterations they feel fit. Both companies should acknowledge that they have something good to offer. When they see their merger in this light, they will work towards a better and stronger company. The key is to learn how to balance ideas and concepts.
Also, as an employee under a merger, embrace change no matter how it looks at the moment. You may disagree with the new policies but learn how to air your thoughts professionally.
Learn to Be Patient with Change
Adjustments are inevitable for both companies in a merger. No matter what your position is, accept the fact that it is going to take time before everything is in place. New systems and new policies will take effect. Remember that these changes are for the best interest of everybody.
Practice resilience and patience. Know for certain that it may take months, even a year before everything will settle to the new normal. Adhere to the new policies without complaining. You may get surprised that they work. Sometimes, resistance comes because the change is something you are not accustomed with.
Display a Strong Support
What one needs to understand about a merger is that it does not always translate to success. Thus, everybody needs to do their part. Everyone must work to make sure that the partnership will not end up being a casualty.
Be part of a smoother transition. As others say, if you are not part of the problem, then you are a fraction of the solution. If you do not resist the changes at every turn, then it will have a faster implementation. Also, if you have innovations in mind that you think might help, do not shy away from voicing them out.
A merger should be a change that is beneficial for everybody concerned. Such a change is scary. But, with the proper strategies and mindset, success is achievable.