Merging? Here’s How to Blend Your Corporate Philosophies – and Why it Matters
The Society of Human Resource Management estimates that more than 30% of mergers fail due to incompatible cultures. Here are some tips to make the transition of blending two corporate philosophies into one a little smoother.
- Work on quality building – As a routine practice; gratitude, happiness, trust, respect, connection and purpose, all contribute to resilient and committed teams.
- Identify key employees & encourage their buy-in – Influential managers and workers can be instrumental in bringing others on board if you spend extra time building their confidence and enthusiasm by educating them on the mission.
- Find a new office – This puts both companies in the position of being “the new guy” and will give everyone a very obvious common ground for a fresh start.
- Don’t try to alter everything – To be successful while merging, you need to find some shared values, common principles and standard processes and the rest they leave as is.
- Emphasize core values – Determine which ones are most important to the success of the company. Simply trying to impose values will not be enough to sustain, they must be viable and absorbable.
- Clearly communicate new expectations – Combine aspects of both cultures to create the new one, outline the new org chart and keep everyone well informed of the changes.
- Integrate work groups – Bring together work groups based on roles and generations. This will help to break down barriers and transition from a ‘we/them’ mindset to just “We”.
- Follow through – “Say what you are going to do. Do what you say”. Integrity and authenticity go a long way in building an environment of trust, especially during a challenging time.
Looking for help planning and preparing for an organizational change?
It will take some time to establish your new corporate philosophy – recognizing the needs of the company will continue to transpire – and giving everyone time to adjust will probably take longer than you think. However, as your new team begins to settle in, you can start to focus on the value addition of two becoming one. Here are a few of the many benefits to combining a team:
Intellectual assets – Combining the best skills, talent, knowledge and experience can generate greater innovation, problem solving and collaboration for new projects.
Diversification – Being able to offer a wider or improved range of products and services.
Market penetration – Theoretically, there will be access to more customers and opportunities to make new ones under the new corporation.
Reduced costs – Operating expenses can be trimmed and greater purchasing power as a larger company can also leverage better market pricing.
With everyone headed the same direction on a new map, there will be plenty of opportunity to learn from and help one another along the way. This will create a stronger and more cohesive environment that is key to reaching your goals. It will be a journey of discovery that just might take you further than you planned.