In this special edition episode of The Forward Thinking podcast, host Jean Cantey Segal, Chief Learning Officer, FCCS welcomes Jay Lux, Vice President of Leadership & Organizational Development for FCCS, Leslie Hilton, Vice President of Governance and Board Development, and Angie Coleman, Organizational Development Consultant with FCCS. In a roundtable format, they discuss their insights on mergers and strategic alliances. They introduce best practices to help teams, leaders, and board members navigate and thrive in the midst of a merger.
Episode Insights Include:
Successfully combining two company cultures
- Thoughtful strategies are necessary when two organizations are merging.
- Complex company cultures can be approached with intentional collaboration.
- Non-negotiables need to be outlined early in the merger to avoid employee confusion.
- Start by identifying if both organizations have a firm grasp on their own company culture.
Effective communication during a merger
- Leaders need to stay in tune with the employee pulse throughout the merger.
- Surveys can help to avoid addressing issues that may not be a real problem.
- Leaders need to offer regular and transparent communication with employees to dispel rumors and fear.
- Mission values and company culture need to be preserved as appropriate throughout the merger process.
Leadership advice for enhanced communication
- Ensure that there is clarity in the message as it is distributed to employees.
- A one page update can go a long way to prevent miscommunication.
- Senior leadership needs to be more candid about updates, with up to 10x more communication.
- Scheduled updates can provide expected and appreciated communication.
- Consider bringing back retired leadership to consult or temporarily removing employees from their regular position.
The director perspective on mergers
- From a 30,000 ft level, the board's role in mergers requires harder conversations about the impact on stakeholders.
- The board needs to keep an eye on the long-term future direction of the organization.
- The board has to consider the culture and integration of the two merging boards into one.
Insightful questions to ask during a merger
- Who will this merger impact and how will they be impacted?
- What plans is management putting in place to manage impacts and mitigate risk?
- What opportunities and risks will this merger present?
- What does the future look like as a result of this merger?
- What key things will make this merger highly successful?
This podcast is powered by FCCS.
Resources
Get in touch
