Today is the day. Today your business prepares for its big merger. There can be a lot of uncertainty in these sorts of situations, and that's why you need to make sure you’re prepared. These are some of the great things you can do to get your business ready for your big merger.
Relocate to New Office
A merger should signify a fresh start for your business. You are changing and evolving as a company, and that's why you have to make changes. Relocating to a new office is an excellent way of making a comfortable transition as a company. You need to make sure it is set up exactly to your liking, though. And that means hiring a commercial electrician, an interior designer, and making sure you have plenty of equipment as well. The right office is a vital part of your merger, and it’s important to put this into practice as soon as possible.
Welcome New Employees
The biggest part of the process is that you’re going to need to integrate and welcome new employees. When you merge with another business, you are going to be taking on staff from that business. They are going to become an invaluable part of your business. So, you need to make sure you make the transition as smooth for them as possible. Many people may have been laid off during the merger process. For instance, when Procter & Gamble bought Gillette over a decade ago, 6,000 people were laid off. That means those who remain will be more vulnerable and sensitive, and you need to make sure you handle them with care.
Be Organized to Help the Transition
A merger is all about transition and successfully integrating new personnel and ideas. The way to do that is to ensure that you are as organized as you can possibly be. You might be shocked to learn that the failure rate for most mergers and acquisitions is between 70% and 90%. And this is most likely to do with the fact that the management side of the process was not organized enough going forward. So how can you stay organized and help the transition? Well, you need to understand firstly that mergers present different management styles and approaches.
Learn to Manage a Larger Team
Quite quickly, you’re going to have to get used to the fact that you’ll be managing a larger team. This is something you have to adapt to pretty quickly. With a merger, you’re going to be taking on more staff and more responsibility. So it’s important that you understand and appreciate how to do this effectively. You may need to change your leadership angle to accommodate new employees, and take your business management to the next level. There may be a lot of uncertainty about the future, and you need to put people’s minds at ease about it. You can do this by making sure you lay out a roadmap to success and have a plan for the future.