Company merger always means a lot of work even though it may also promise a big improvement and development. However, several things need to be done and we often get lost about it. Here is the practical checklist.
#1. NDA Signed
This will be the very first step. Both parties need to sign it and every party should understand the entire meaning and following condition after the signing. We can take enough time to do this right.
#2. Roles Clarification
Considering that merging involves parties, each of them should be aware of the roles and they should not have any problem to conduct immediate action on their roles for the company. It may need clarification.
#3. Fix Cultural Challenges
The employees may find it odd to work together because they have different working culture. Fixing the issue is essential for initial effort. Making new culture can be an alternative to solve it.
#4. Make Orientation Day
People in the company will need to adapt on new situation and co workers. We should make orientation day to help them adapt. Several big companies use days for this for effective result.
#5. Reconsider the Structure
Merging companies also means we have more people in the same position. We will need to restructure it and make sure everyone is familiar with the change. It can be tough at first, but people will adapt.
#6. Prepare Representative Work Team
Changes are always hard including for our employees who are probably facing new equipments, requirements, and procedures after the merger. A representative team in each division can help them to deal with the merger easier.
#7. Initial Leaders Meeting
We need to make sure all leaders meet and talk on the same floor and move on the same direction. Initial meeting will be needed to make it works. This is proven effective.
#8. Prepare a Team to Fix Issues
There will be a lot of issue due to gap and adaptation after the merger. It can make the employees feel depressed. A ready expert team to help fixing the issue will prevent further problem.
#9. Retain the Customers
Customers are the breath of the business. They need to know about the merger since before it happens. Then, we also need to inform it again and again to get their awareness.
The checklist basically covers all aspects we need to deal with during and after the merger. This will be hard at first, but it gets smoother day by day.