Merging companies is not only a path to success but also a rather stressful process. To ensure a smoother transition to something new, use the post merger integration checklist tips.
Why do I need a post merger checklist?
You’ve probably already heard about the checklists that companies create before the merger starts. But why do you need a checklist after the merger has happened? First and foremost, it’s necessary:
- to develop a clear plan for the merger;
- to ensure the stability of the company during the transition period;
- to create a more relaxed atmosphere for employees and create a new corporate culture.
In order not to miss anything important during the merger process, it is advisable to prepare such a list in advance. It is also a good idea to have a multi-functional team involved in its development, with each member ensuring that it is complete and up-to-date.
What does a post-merger checklist consist of?
If you’ve already decided on the authors of such a list, it’s time to talk about what it should look like. To make the list as comprehensive as possible, you should divide it into several sections. In turn, the sections can be divided into items and sub-items to make it easier to keep track of them. The more items you have, the better, to make sure you don’t forget anything.
So, a typical structure for a merger list includes the next sections.
Managing human resources
Human resources are every company’s most important asset. In a merger, the question of optimizing human resources will inevitably become an issue. In this section it is necessary to spell out:
- an overall development strategy;
- a new recruitment strategy;
- a recruitment and onboarding package;
- new benefits packages and benefits for employees;
- trade-union strategy (if any).
A list of specific steps will help simplify the HR department’s work in the first aftermath of the merger.
This section should spell out the process of employee termination (if necessary), identify departments where there is a surplus of human resources, develop a system of benefits for the best employees (so they don’t leave the company), prepare documents for termination and severance payments.
This section should include sub-clauses on cooperation with the company’s IT team – for example, implementing new corporate communication systems, creating new user accounts for system access, security, and more.
Here you need to specify:
- the performance review process;
- training and development plan;
- a process for implementing a communication system within the company.
By developing this plan, you will be able to monitor how quickly employees receive tasks, whether they understand them correctly, and how they complete them.
Each section of the checklist is a tiered system. Don’t be intimidated if at first glance it seems confusing and complicated. If you approach the checklist thoughtfully, you will not only be able to make it effective, but you will also be able to solve many of the problematic issues regarding the merger.