The Management of People in Mergers and Acquisitions

The Management of People in Mergers and Acquisitions

The Management of People in Mergers and Acquisitions

The Management of People in Mergers and Acquisitions

Synopsis

Financials alone don't make an M&A deal work. Equally important is what's behind them--an organization's people. How to understand this reality and benefit from it is the thrust of this unusually comprehensive, practical, readable, but conceptually rigorous book. Daniel and Metcalf see HR executives as change agents during the delicate maneuverings before a deal is done, and then after, when it's time to tackle the fine-grained problems of integrating disparate corporate cultures and the people who vitalize them. They examine the recent and ongoing waves of mergers and acquisitions across industries, setting them in the broader context of organizational change. With concepts, theory, and real-life examples drawn from their long, impressive experience as consultants and corporate executives, Daniel and Metcalf provide step-by-step guidance through the stages common to all corporate combinations. They define and explain the roles to be played in the process by HR professionals and executives elsewhere in the organization, and show how, by interacting productively with each other, they will thus maximize the total contribution to the success of any corporate transaction.

Excerpt

This book began as a very practical handbook for human resources professionals involved in merger or acquisition activity. But as it evolved, we found a need to ground our ideas in a slightly more theoretical context—to provide a rationale for why we were making the specific recommendations that we do. The practical and specific recommendations are based on our experiences of what has not worked, as well as what seems to have been much more successful. They are also based on a good deal of digging and contemplation about why things have worked or not. But the essence of the book has not been lost—it is still intended to provide direct and useful information for those involved in mergers or acquisitions, or similar magnitudes of organizational change.

The first chapter provides an overview of recent merger and acquisition activity and some of the issues this presents. The next three chapters (2–4) provide the theoretical base for our positions about the importance of the human side of these deals. Some readers may choose to skip directly to Chapter 5, to begin with the more practical aspects. (Those readers who automatically toss anything longer than a three-line e-mail note can just go straight to Chapter 14, which summarizes the key concepts without the detail of accomplishing them. You can always come back to the earlier chapters as time and interest allow.) The appendices provide a series of checklists for use in implementing many of the very specific recommendations made throughout the book.

Chapters 5–11 provide increasing levels of detail about the process of mergers and acquisitions and about the very practical issues involved in them. The focus is on human resources as the key manager of the human side of such deals, and therefore many of the “how-to” suggestions are

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