The NY Times isn't the only publication that I read - though it is starting to look that way. Here's another story that has implications for I.T. Leadership and the companies that we work for.
Kelly Holland's article from last June 23rd's New York Times - "Life After a Merger: Learning on Both Sides". Has one major theme - keeping good people and two actions that are required to do so - planning and communicating.
Holland: "Managers trying to integrate newly acquired companies and divisions have their work cut out for them. Many current deals are about growth opportunities, which makes keeping key employees especially important."
Further: "So what, exactly, is the best way to persuade members of the new corporate family to stay? The sensible approach is the simplest: plan ahead, communicate often and treat everyone involved in the deal with respect. Say clearly and early when any cuts will occur, and help people feel that they are a part of the combined company’s culture."
This is good advise for every organization in almost any situation but particularly important when merging or significantly changing organizations. Plan for what you want to accomplish and communicate. Plan to keep the key individuals that you need to meet your goals and actively communicate.
The article quotes - Timothy J. Galpin, a senior fellow at Katzenbach Partners and author of “The Complete Guide to Mergers and Acquisitions," - "A year after a deal closes, Mr. Galpin says, managers would be doing well to have retained 80 percent of the employees they wanted to keep."
If 80% is the best we can do - then the worst could be devastating.
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