As the global business environment continues to change and evolve, it is common for companies to be involved in mergers and acquisitions (M&A) as a means to further expand their organizations. There are many complex elements involved in an M&A, and managing the movement of your key talent is one critical piece.
Why Can Mergers and Acquisitions Be Such a Challenge?
While no M&A situation is exactly the same, relocation is one area that most organizations have very little experience in navigating. Proactive planning of a merger and acquisition process can anticipate some, but not all, of the mobility decisions that need to be made. Areas that can add complexity include
- Size of the merger
- Differing corporate cultures
- Benefit levels
Relocation’s Place in a Merger
The task of implementing a new relocation policy may involve many obstacles. Relocation professionals play a pivotal role in managing the mobility aspects of an effective transition. Aspects of successful relocation program implementation may include:
- Gaining empowerment from upper management.
- Addressing cultural differences.
- Coping with delays.
- Constructing a budget for merger-related mobility issues.
There many things that go into the success of an M&A, but following are just a few pre- and post-announcement critical items:
Before Announcement of the M&A
- Identify key contacts and project owners.
- Schedule time within your organization to outline things like expatriate demographics, vendor roles and global mobility policy components.
- Review timing and key activities.
After Announcement of the M&A
- Analyse the previous and new employer’s relocation packages side by side.
- Schedule time to review relocation benefits with employees and allow them to ask questions.
- Develop a training guide to quickly educate relocation team on new policy and procedures.