There are many potential pitfalls and challenges that managers face when going through a merger. Accounting systems need to be combined, information technology infrastructures merged, and in many instances, roles and responsibilities are consolidated. However, the largest and usually most daunting challenge is getting people to change. .
Change always causes stress and anxiety. Employees will have many questions about whether they will have jobs, what their new roles and responsibilities will be, if they will be relocated, what happens with their salary and benefits, and many more other issues. They will also want to know about the other company in order to have a better understanding of the new work environment. .
Of all the issues that will arise during the transition, the issue likely to jump to the fore is that of corporate philosophies. What will the philosophy of the new company be? This philosophy will set the tone for the merger and give employees a strong indication of what to expect after the merger has been completed. .
To research this issue, a couple of approaches can be taken. This paper will discuss in more detail how gap analysis, case studies and benchmarking can be used to uncover solid background information that managers can use to ease the transition.
Once the research phase has been completed, a strategy will be put together to guide the transition. A strategic framework for change management will provide the necessary support for change within the organization. This paper will describe how the framework will support employee motivation as well as anticipate and address issues that may arise during the transition. .
After the strategy has been formulated and implemented, various metrics will be used to track overall performance. Productivity, absenteeism, turnover and job satisfaction will be the main variables monitored to ensure that the strategy is successful in keeping work performance and job satisfaction high during the transition period.