Mergers and acquisitions (M&As)are often made due to the financial circumstances of one or more companies. Although the primary concern at the onset of a merger may be related to financial stability, there are other high priority items that should also be considered. Workplace culture is among the most crucial factors that needs attention before, during, and after a proposed merger or acquisition.
Diversity and Inclusivity
Diversity and inclusivity are a large part of corporate culture. The type and mixture of a workforce creates an atmosphere throughout the organization. These atmosphere, for better or worse, contributes heavily to what becomes known as corporate culture. Placing importance on inclusivity in the workplace ensures that all cultures and demographics are represented in daily operations and important decision making processes.
Diversity in the Workplace
Corporate practices involving diversity and inclusivity happen in two distinct ways. The naturally forming corporate culture has already been discussed and is the most easily recognizable proof of diversity and inclusivity. The second way to address these factors is through relevant corporate policies. Most organizations dedicate a portion of their Human Resources budget to ongoing training in this area.
An HR Generalist or designated team is responsible for creating policies that outline expectations set forth by the company with regards to diversity and inclusivity. In addition to defining appropriate practices and behaviors, it is also necessary to present consequences for those individuals who choose not to follow the established policies. Collectively, these policies are referred to as Diversity, Equity, and Inclusion (DEI) initiatives.
Diversity Audits
It is important to understand where a company falls before and after a merger. A diversity audit is an easy way to check DEI progress and determine if changes are in order. Conducting a diversity audience is a critical step in creating a positive image that will last well after the merger is complete. Employee engagement and satisfaction is absolutely necessary for an organization to succeed and thrive. Responsible growth requires teams that represent diversity in thought, background, experience, and personality characteristics. Transformational change and organizational development coaches can help unpack what is needed for a newly formed company to exceed expectations.