Business acquisition can be both a blessing and a curse. While it certainly means that your business is expanding and integrating with another company – with the potential to add new services or products to your profile – it also means that you need to merge different teams as efficiently as you can. Without considering the financial implications of a merger, the human side of business acquisition can be difficult to manage for employers and employees. Indeed, you have different teams, with different customers and product data, who need to get together, understand each other’s needs and combine efforts towards a new image of success. If you want a successful merge, you will need to work on it with the teams.
Merge Your Data
There is a big difference between signing an acquisition contract and getting your teams together. From a practical perspective, you will need to find a new location, which can take time. Therefore, the first merge is likely to occur online, via cloud computing for businesses which enables your teams to share project data and contact lists. Using this kind of customizable cloud services will prove helpful at the beginning of the merge as you can choose to display the business identity. However, to make the most of your collaborative cloud solution, you should be working with a professional cloud host who can guarantee the safety and privacy of your data at all times.
Bring Everyone Together
With two teams, it’s important to bring everyone together and to help your teams to develop a bond.
Communication is key during a merge. You should include the new team in your round emails and communication tools as soon as possible. Indeed, you are likely to work with a remote team until you can find a place to move in. Consequently, you should be ensuring that the communication lines are open. Additionally, it will be important to help the team of the acquired business to accept the new situation and to discuss their worries openly.
Moving everyone into the same office is a challenging step. More often than not, this starts by looking around for a new office. You will also need to compare the cost of office supplies, commercial insurance, and accessibility to choose the best-suited location for your needs. As a rule of the thumb, as you switch offices, you can have the possibility to review your commercial property insurance, and eventually to switch to a more affordable option.
Team Building Events
When you merge teams, it’s important to spend time developing the team building spirit . You can create games, such as the zombie escape or the shrinking vessel, in which people have to work together to solve a problem. These are not only a lot of fun, but they do help new teams to know each other and interact positively. Community service is also a great ice-breaker and help new colleagues to bond around a common project.
The Inevitable Layoffs
Finally, there’s a dilemma in business acquisitions: You have to let some people go. While more experienced staff is guaranteed to stay; it’s likely that administrative roles and graduates will be asked to leave. It’s a decision to need to take rapidly, and you need to look out for the best possible solution for your team and the acquired team.