Dollars, sense, synergies, and growth are all terms that are often associated with mergers and acquisitions.
This article was originally published by Hotel Business Review. See link below for full article.
By Feb 26, 2016 | Reposted from Partners in Leadership|
A super platinum – everything status guest with a certain brand hotel chain walked into one of his favorite properties after this brand recently merged with another chain, looked around and said, “It just isn’t the same. I don’t even recognize them anymore.” He then walked out of the door determined to find a new favorite property he could count on.
Does this sound far-fetched to you? It shouldn’t; it happens all too often, and it should send chills down every leader’s spine. While this anecdote focuses on the guest, you can imagine the impact this would also have on the employees.
Mergers and Acquisitions can surely impact the bottom line in the short term, but more importantly, they can also impact guests, team members, and anyone associated with a brand. Unfortunately, these components often get lost in the short-term activity and shuffle.
In a world where M&A can happen anytime, to (almost) any company, leaders need be prepared and know how to manage and facilitate the process.
Where Are We On the Change Curve?
Initially, many in the organization will hold a mind-set of “Anticipation” as the news of the intended M&A unfolds and employees are introduced to the big ideas and the wonderful expected outcomes. Quickly, however, as the newness wears off and daily challenges are faced, many move to a state of “Questioning.” People are looking for answers and for leadership. If the answers are not there, if the leadership fails to lead, or if it’s at all fuzzy or confusing, “Questioning” quickly turns to “Doubting.” If the culture (the way people think and act) isn’t managed well at this point, many will give up, which shows up in so many undesirable ways-including turnover, gossip, poor performance, or simply moving into a “wait and see” disposition. This is a critical time, and if your people “Give Up” then they’re usually falling back into the C1 culture-the one that ignores the reality of the merger or acquisition completely-or worse yet , they will resist and resent it! On the other hand, if leaders actively manage the culture, using proven methods and tools to get people to “Buy-In” and get personally invested, then the adoption of the new C2 culture will be accelerated with a far greater likelihood of being successful.
Read full article at Hotel Business Review – “Dollars & Sense: Merging Cultures Post-M&A”