Mergers and Amalgamations
While both strategic and operational skills are essential for those undertaking mergers and amalgamations, we have found that successful outcomes often fall short because of poor understanding of the importance of managing fear of change, loss of power and status, ‘clashes’ of culture and the consequent inability to ‘bring’ Boards, management, and staff along together – positively – on the ‘journey’ to the new entity/ies.
- Consult with Boards from each merging or amalgamating entity to:
- Clarify common understandings, expectations and challenges
- Develop strategies for addressing, negotiating and resolving identified challenges and changes required
- Work with Board and senior leaders from all entities involved to identify members of the joint Leadership Team – work closely with the Team at all stage of the amalgamation
- Develop a communication strategy for staff in each entity to explain the amalgamation/merger process
- Conduct workshop with staff to identify issues and discuss the merger process
- Identify potential risks and develop a risk management strategy
- Identify those areas where external expertise may be required e.g. establishment of IT systems, legal advice, design of promotional material etc.
- Develop a Transition Plan incorporating all of the key actions to be undertaken and the proposed timelines and individuals responsible – including change management and communications
- Develop and support the implementation of a change management and communications strategy
- Provide ongoing support and guidance in the implementation of the Transition Plan