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.

 

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