Versique HR Lab: Mergers & Acquisitions
So far this year, there has been over 2.5 billion invested in Mergers, Acquisitions, and Divestitures in the US. Companies are making these investments for a variety of reasons, leading with New Technologies, Geographic Expansion, and Diversity of Products.
As your company assesses growth, is M & A on your target and what is Human Capitals role and partners in these ventures?
Versique hosted our 4th HR Lab on October 4th, with a winning panel of HR leaders, at the Minneapolis Golf Club. See pictures from the event.
The HR Panel:
- Marie Carlson, VP of Human Resources @ Padilla
- Kasey Keiser, HR Mergers, Acquisitions & Divestitures – HR Business Solutions @ Medtronic
- Alissa Partee, Head of People @ Caribou Coffee Company
- Carmen Thiede, Chief People Officer @ ABRA Auto Body
About the Event
They shared insightful stories and relevant comparisons of their deep experiences with mergers, acquisitions, and divestitures.
Clear considerations for all size M & A’s where noted, from Total Rewards, Roles & Capabilities, Blending and Integrating Cultures. Much was discussed on setting up formal and informal operations leaders to help with smooth transitions and communications, during what can be a time where many employees have questions around ‘unknowns’. Another point well stated was that you should set up a Peer Mentor Program, where professionals help others understand business themes and company culture. As well as clear communications.
Many themes reoccurred from what is most important when acquiring another organization. From who your internal key partners are, like Finance, HR and IT. Setting up a strong internal team of who needs to know what, who’s under the tent when it comes to upfront due diligence, so you know who you can lean on in the beginning stages. Who needs to know specific timing and job flow duties, as acquired employees fold in.
Proactive engagement of the employees and leadership of who is coming into the new organizational structure. What is being considered negotiable and non-negotiable? Has the company being acquired always hosted a family picnic, maybe that seems insignificant but to those employees, it’s a critical engagement event, keep it rolling.
One more point that resounded was that you need to have a safe and strong environment where difficult conversations can be had, fostering honesty and promoting that throughout, can greatly improve an acquisition transition.
Don’t Miss Our Next HR Lab
To ensure you don’t miss the next Versique HR Lab, contact Jenny Kriha to be included on future communications.
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