Acquiring and merging companies is a normal part of business for many New York firms. However, a sudden change in business ownership, management and company climate can be stressful for employees. It is important for business executives to consider the needs and emotions of staff during the challenging period of adjusting to a new merger.
One of the most common mistakes at the commencement of a merger, according to Forbes, is to overlook the feelings of a company’s most basic assets – its personnel. The initial merger stages are often accompanied by a reduction of productivity as employees put their energy and resources into worrying about company changes and the possibility of being laid off. Company executives may attempt to dissuade fear and rumors by instructing employees to do their normal jobs and not listen to what they hear from the media and co-workers. They may use the tactic of keeping employees oblivious to the impending changes, instead of providing the information they need to help them prepare for the merger.
According to Chief Executive, it is normal during a merger for employees to wonder how the new or altered company might affect them. In addition to the possibility of future unemployment, they may be afraid that unfamiliar policies will be implemented, that they won’t get along with new management or that the company culture they’ve grown accustomed to will be dramatically changed. The experience may be easier on employees if management takes time to understand and address the concerns that their staff is likely to have.