Louisiana residents have likely noticed the recent uptick in business mergers in virtually every type of business including banks, law firms, doctors’ offices, airlines, construction companies and retail shops. Practically every other day a merger such as the recent one involving American Airlines and US Airways makes the headlines in the business law section of the newspaper.
Many employees of recently acquired companies may believe they will be adversely affected by these mergers and acquisitions. However, this is not necessarily true. In fact, there are some important survival tips for those employees that are experiencing a merger or acquisition.
First, people must remain flexible to change and maintain a positive attitude. It is highly likely that an evaluation will be taking place to determine whether an existing employee should remain with the newly merged company. Therefore, it is important for all employees to be on their best behavior and maintain a positive mindset.
Second, those in management positions should have open communication with existing employees so that they are not left in the dark about the foreseeable future. Honesty and frankness on the part of management is key to a successful merger. Most importantly, it is essential for management to create unity between the new employees and the previously existing ones. They should all feel as if they are striving for a common goal as equals.
Mergers and acquisitions can be complex and difficult to navigate. It is important to obtain as much information as possible if one is contemplating such a transaction. However, with the right help, businesses can successfully complete mergers and go on to have very successful futures.
Source: Gulfshore Business, “Merger Mania: How to maintain your sanity when your company is acquired,” Lori Johnston, Feb. 27, 2013