mergers | Human-Centered Change and Innovation

Change Management Best Practices for Mergers and Acquisitions

GUEST POST from Art Inteligencia

Mergers and acquisitions (M&A) can be one of the most challenging events any business will ever experience. Change management is essential to ensure the successful integration of two organizations, cultures, and systems. To ensure a smooth transition, it’s important to have a plan in place that covers every aspect of the process. Here are some key best practices for change management during mergers and acquisitions.

1. Establish Clear Goals and Objectives: Before beginning any merger or acquisition, it’s important to set clear goals and objectives. This includes the desired outcomes of the transaction, the timeline for the integration process, and the resources that will be required. Having a clear understanding of the objectives will help ensure that everyone is on the same page throughout the process.

2. Develop a Change Management Plan: A comprehensive change management plan should be developed to guide the transition process. The plan should address the impact of the merger or acquisition on the people, processes, and technologies involved. It should also include strategies for communicating the changes to stakeholders, as well as plans for training and supporting employees during the transition.

3. Create an Open Communication Platform: Open and effective communication is essential for managing change during a merger or acquisition. All stakeholders should be kept informed of the progress of the merger or acquisition, and any changes that arise should be communicated in a timely manner. An open communication platform should be established to ensure that information is shared quickly and accurately.

4. Stress the Benefits: It’s important to emphasize the positive aspects of the merger or acquisition to all stakeholders. Employees should be made aware of the benefits they will experience as a result of the transaction. This could include new job opportunities, expanded markets, or access to new technologies.

5. Monitor and Adjust: The transition process should be constantly monitored and adjusted as needed. This could include changing the timeline, adjusting the resources required, or even scrapping the plan altogether and starting over. It’s important to remain flexible and be prepared to adjust the plan as needed.

Mergers and acquisitions can be a difficult and stressful process, but with the right change management plan in place, the transition can be much smoother. By following these best practices, businesses can ensure that the transition is successful and that stakeholders are satisfied with the outcome.

Image credit: Pexels

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2017 promises to be a year of unprecedented change. As a result, it will be imperative for managers to empower themselves with the tools that will help effectively lead the change initiatives that will be required to cope with political and economic turmoil and threats from digital entrants intent on disrupting the industry your company may now lead (or aspire to lead). Are you sure you’re ready to lead the change efforts your organization will need to survive in 2017 and beyond?

Before we move forward assuming that we’re equipped to succeed, let’s look backwards and ask the following questions:

1. How many of you tried to change something in your organization in 2016 and failed?

— Or had more trouble implementing the change than you would have liked?

2. How many of you ran a project that proved more difficult to execute than you expected?

Admit it. No matter how well the change initiatives or projects you lead in 2016 may have gone, they could have gone even better. As leaders we do the best with the knowledge, skills, abilities, and tools we have available to deliver the desired results. But, as we acquire new tools, or new knowledge, skills and abilities, we do even better.

2016 is almost over and as we continue to invest less of our time on executing 2016 projects and change initiatives and invest more time into planning our 2017 change efforts, this is the perfect time to acquire some new tools and master the new knowledge, skills, and abilities necessary to use them to help us achieve more in 2017.

For change leaders and project managers, the Change Planning Toolkit™ represents one of the most powerful new toolboxes to learn how to master for 2017 and beyond.

The Change Planning Toolkit™ is introduced in my latest book Charting Change from Palgrave Macmillan and designed to make the change planning process more visual and more collaborative in order to surface the hidden land mines as early as possible so they can be worked through, and to make the plan and progress against it more transparent as the project or change initiative progresses. And given that every project changes something, every project is a large or small change initiative!

There are many reasons the Change Planning Toolkit™ is worth far more than the small cost to acquire an individual education license for the toolkit to learn about the tools and how to use them. And organizations that empower their people with the tools in the Change Planning Toolkit™ will not only become more agile than the competition, but will also benefit in the five following ways:

Beat the 70% Change Failure Rate

Quickly Visualize, Plan and Execute

Deliver Projects and Change Efforts on Time

Accelerate Implementation and Adoption

Get Lots of Valuable, Powerful Tools for a Few $$$

There are licensing options for every situation.

Change practitioners and independent consultants can get an individual educational license to get comfortable with the tools in a 11″x17″ format. Upgrading to a site license will get you access to the poster size versions of key tools. Consulting firms and organizations of 100+ employees will find site licenses less expensive.

Site licenses are very affordable, starting at $2/year per employee and up, after the payment of a small license setup fee. Consulting firms will be able to use the tools to increase their revenue with clients, and companies will increase the speed and success of their change initiatives.

Independent consultants, consulting firms, and educational institutions can sign up as resellers and earn a 10% commission on all subsequent license sales.

The Bronze version of the Change Planning Toolkit™ is available now, and the Gold version will become available in the near future.

Public and private train the trainer sessions are available upon request.

Or you can kick off your next organizational change effort in style using the Change Planning Toolkit™ with me as the facilitator and start getting a jump on your competition.