Company mergers are almost always announced with lots of fanfare, and with optimistic, upbeat statements from the Chief Executives.
"This merger," they usually say, "is an exciting development that will allow us to create more value for all our stakeholders." The markets are often impressed.
Staff at the merged organizations, however, may need more convincing.
A successful merger is like putting high-performance tires on your car: the combination is greater than the sum of the parts, and the two organizations can achieve things together that they couldn't do separately. However, all too often, mergers are more like what happens when you put diesel fuel in your gasoline car: you spend all your time trying to fix the problems caused by forcing together two things that don't really belong with one another.
As companies seek out more and more efficient operating models, merging talent and resources becomes attractive. As such, you'll likely experience a merger at some point in your career. And while top executives are dealing with the strategic and structural issues of a merger, what can you do to ensure that you not only survive the experience, but thrive as a result of the change?
When two organizations merge, staff members from the original companies are typically left wondering who will stay, who will go, and what will the structure of the new organization be?
The problem is, some of the talent and resources are often deemed redundant in the new structure. Few positions are really safe: After all, you only need so many accountants, administrative support personnel and executives to run a company!
When faced with a merger, your challenge is to figure out your best means of survival. You can do one of two things. Either you find a way to stay, or you exit graciously.
The best survival strategy is one that keeps both options open. That way, as the merger begins to take shape, you have some control over what happens. Whenever you can exercise control, you reduce your stress levels. This leaves you with sufficient emotional resources to manage your situation with confidence.
Confidence is key to your survival when you are faced with a merger. To build the confidence you need, you'll need to develop a merger survival plan. Here, we'll show you a four-pronged approach to mergers. This will help you do what you need to do to emerge happy and satisfied, once the dust settles and the winds of change have blown through.
The four-part plan consists of:
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This ensures that you don’t lose your plan.
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