Mergers and acquisitions continue to become more common across the business world and are not showing signs of slowing in 2022. When thinking about the impact of mergers and acquisitions on your business, you should consider how they could impact your employees as well. In many cases, new employees will likely join your team during a merger, which can cause a shake-up of current processes. If your company is getting ready to complete a merger, consider the following tips to help your employees handle new coworkers.
Put Together A Plan Of Action
Once it has been confirmed that your company will be going through a merger, one of the first steps to take is to create a plan of action on how to ensure a smooth transition. The action plan should include steps on introducing new team members, providing activities to help the teams get to know each other, adjustments in the team hierarchy, and other important information related to the merger.
Work With Your New Leadership Team
While it is important to put together a plan of action after confirming a merger, it is also crucial to do so with the leadership team that will be joining the business. Working with the company’s leadership team will not only help ensure a strong action plan is in place, but it will also help to set a positive example of how to deal with the change. Leading by example is a great way to get employees excited and more comfortable.
Be Transparent
Given how much change can impact your employees, it is necessary to be transparent about the changes throughout the process. Transparency is a great way for leaders to gain the trust of both their new and current employees, as it shows you are committed to being a fair, ethical leader.
Show Appreciation To Your Employees
Mergers can be both an exciting and stressful time for employees, so it will be helpful to show them your appreciation. In many cases, mergers can bring extra work that employees were not responsible for previously, and they will want to feel appreciated for the extra work. Examples of showing appreciation could include throwing a company party, providing rewards for the hard work, and providing raises or bonuses whenever possible.