Remember the old advertisement on TV that ended with the tag line “pay me now, or pay me later”? Not spending at least as much time on creating very specific and actionable change management plans as part of your overall merger or acquisition plans will result in loss of personnel, longer implementation times, higher costs, and the very real possibility of failure.
Here are five approaches to planning that do not work:
Most mergers and acquisitions focus on ‘changing the chart’. We believe that is not nearly enough. In order to have a successful outcome, you also need to, as John Scherer and Mark Yeoell put it, ‘change the heart’…that is, to lavish at least as much attention on your people. We call it “People Diligence”.
You are acquiring not only the ‘brick and mortar’, and other physical assets, but you are also acquiring the intellectual assets that reside within the employee base. If you do not take care to carefully manage the people side of your deal, to create and execute robust Change Management Plans, your odds of succeeding will be extremely unlikely.
Wolf Management will work with you create, simple, clear, actionable Change Management Plans that will help ensure that your new company is all that you want it to be!!
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