Mergers & Acquisitions Articles (click here for more)
Copyright 1999 The CHANGE AGENT.
The 3 Costliest Merger Mistakes and 4 Ways to Avoid Them
By: Patti Hathaway
|Patti Hathaway, Certified Speaking Professional and author of 3 books, is known as The CHANGE AGENT. Her most recent book is Untying the 'Nots' of Change Before You're Fit to be Tied. Patti works with organizations who want to make change work and with those organizations who want to change their customer service culture. Patti provides customized keynotes and workshops. Contact Patti at 1-800-339-0973 or at her web-site: www.thechangeagent.com for information on her speaking services or to receive her complimentary e-mail newsletter.
- Tell employees "change is good." Employees don't buy it and you
will lose credibility. Change is painful.
- Promise your employees that this will be a "merger of equals."
There are never two winners in a merger. Mergers tend to not be fair so
be realistic with your employees. Honesty is always the best policy.
- Ask for employee feedback on change implementation strategies and then
don't use the feedback. It's the quickest way to alienate your employees.
If you don't want or need employee input into the change process then don't
ask for it. Don't pretend that you are open to suggestions when you are
not. Lies at the beginning will cause people to not trust you later.
- Don't change things immediately. Find out the key components which must
be merged. Not everything needs to be integrated. Talk with your front
line employees in both organizations which are to be merged. Listen and
learn. Build on the merged organization=s strengths. Recognize that one
solution may not fit both organizations.
- Determine what changes need to be made. Communicate and explain the changes
to the entire organization. Announce what and when the changes will be
implemented. Don't make the announcement and implementation dates too far
apart. Half the pain is in the anticipation of the change.
- Educate people as to why change is painful and what they can do for themselves
personally to deal with change.
- Address rumors as they occur (i.e. have a "Rumor of the Week"
section in your employee newsletter).
Books by Patti Hathaway
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