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Strategic Role Of HR In Mergers & Acquisitions
313 Downloads | 9 Pages 2,203 Words | Published Date: 29/01/2015
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- Internet – 659 deals worth $ 26.06 billion;
- Healthcare – 319 deals worth $75.25 billion;
- Telecommunications – 187 deals worth $11.53 billion;
- Banking – 146 deals worth $11.04 billion; and
- Semiconductors – 47 deals worth $2.4 billion.
- Pre Acquisition
- Foundation Building
- Rapid Integration
- Employee demographics and Competency Analysis (Based on requirements of new group)
- Key Talent Analysis
- Compensation and Benefit structure to be adopted, its measure with the existing company and how does it aligns with the parent company
- Any legal issues such union contracts, pending employee litigation or worker’s compensation etc.
A 2006 white paper from the Economist Intelligence Unit revealed that 67 percent of survey respondents pointed to cultural integration as both the most important people issue and the most critical success factor in an M&A deal (Bundy & Hukins, 2009). More recently, a report from the Economist Intelligence Unit titled M&A Beyond Borders: Opportunities and Risk, in conjunction with Mercer, found that organisational culture differences and human capital integration issues ranked as the two most significant challenges faced by respondents in recent transactions.
HR could play vital role in this aspect, as it’s the only function which is equipped enough for determining the compatibility. Some of the key areas which need to be focused during this stage could be as follows:
- History of the company, its reputation in industry, and its product and services
- Where does the authority lies within the company, is it bureaucratic or freewheeling etc
- Emotional element involved i.e. what does the employees think about company, management and future? What employee behaviors are the norm and what values and beliefs are behind those norms?
- What needs to be done?
- Who’s going to do it?
- When it will be complete?
- Developing the strategies for retaining people
- Examining compensation and benefit programs
- Identifying the barriers to a merged culture
- Creating and implementing a plan for establishing the communication with the newly merged organisation
- The HR team that is in charge of the culture integration must start by building a clear view of the context of change and the rationale behind the M&A. It must ensure that all parties have a full and comprehensive understanding of the context of the deal and the outcomes that need to be achieved.
- Next they need to determine the degree of integration in two parts. First, translate the understanding of the deal in terms of the target operational integration. Second, determine the extent of cultural integration required to achieve that operational integration.
- Then clarify the specific behaviors required to run the combined business and include a behavioral assessment of each organization and an assessment of their combined future state. Follow this by proposing the culture change hypothesis – specifically, what changes in behaviors must take place to successfully run the post-deal business.
- Next identify the drivers needed to influence those behaviors, design the drivers (initiatives) and then implement those drivers through an effective change management process. Finally set up an appropriate measurement system and reinforce the cultural changes.
The need to communicate is not only required in the later stages, but must be integrated in the whole process from the outset itself. Most of the times, communication efforts from the companies are fragmented with different information and messages going out to investors, employees, managers and customers. Hence, it becomes must that message to all stakeholders must be well planned and consistent in its approach.
One of the communication strategies which could be used during the whole process has been provided by the Mercer Consulting Group, which has been given below:
Economies of Scale
Conclusion & Recommendations
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