5 Tips for Successfully Navigating a Company Merger

Uncertain times, just like the ones we’re living through right now, might bring on uncertain situations and experiences. And when the economy is suffering a common occurrence is company mergers and acquisitions. While this is definitely not the only time this happens, it’s possibly the reason for any happening right now since the global pandemic has global economic repercussions.

In a September 2019 article, the Boston Consulting Group wrote that their research showed that downturns can be excellent times for deal-making with regards to mergers and acquisitions.

And if not now, a company merger could happen sometime in your professional life. It’s definitely stressful to come to terms with such a big change, but here are some ways to ride the wave as well as possible.

5 Tips for Successfully Navigating a Company Merger

Don’t fight it

Even in life outside of mergers, the hardest part occurs when you fight change that is inevitable. So to begin, don’t fight it. Accept that it will happen and see how you can be part of the solution. Fighting a situation that you don’t have any control over will only create issues within your own mind. Instead think of your next steps.

Reality check

The reality of the situation is that when two companies merge, the outcome for the employees of both companies is unpredictable. It is possible that you might not have a place there anymore. That doesn’t mean you are not worthy. It could mean you have a different role in the new company. If not, it just means things are changing and you need to realize the change and come to terms with it so that you can move forward. Mental preparation is important but that doesn’t mean you look for another job immediately. It usually takes a few months for the new company to start operations and most organizations will give you prior notice. Some organizations also have a considerable severance package and additional benefits. So don’t panic and leave and miss out on new opportunities.

Have a contingency plan

While you shouldn’t jump into action to find another job, it’s not a bad idea to start thinking about it and exploring your options. You could speak with your boss about your opportunities within the new company and areas you’re open to explore. Even if you do get absorbed into the new company, you might not like the new management, processes, or job role. So you might have to look for something after a few months. You need to plan for that. Speak to friends and family about your situation to help you access your opportunities outside your current company or even options within. Put together your network and keep things ready for when you might have to begin. This also means having a financial plan in place.

Be open

In a situation like this there will be a lot of changes. Be open to being part of the change. You can speak with your seniors to help with the integration. If you are heading a team, remember to reassure your team and help them deal with the changes. If you are calm and productive, your team will follow suit. All of this will reflect well on your professional character and possibly increase the chances of you being absorbed into the new company. Keep an eye out for changes in culture and if it is something that appeals to you, try to imbibe it. This will get you that much closer to the new company and perhaps staying.

Don’t spread negativity

A It’s easy to resort to being defensive and to complain and point fingers in a difficult situation. But refrain from talking negatively about the situation, your seniors, or the future of the company with your colleagues. This will only worsen the situation. This toxicity will only make the transition more difficult for everyone.

Whether you’re an employee or a manager, experiencing a company merger is always a difficult journey. Incorporating these points into your daily experiences will make navigating this temporary situation more productive.

FAQs

Q. Why is it important to have a contingency plan?

A. Having a contingency plan is important because during a merger there are many variables and while you might be retained in the company, there might be other factors that might come in the way.

Q. What is the one tip that will help imbibe the changes better?

A. Being open to the various changes and adjustments is what will make the merger easier on you.