There are challenging things that people in corporations experience and one of those times is when there is a merger and acquisition with another company.
It affects people in so many ways and it can impact how you will proceed with recognition and rewards.
Consider that consulting firm McKinsey and Company found that “95 percent of executives describe cultural fit as critical to the success of integration following a merger. Yet 25 percent cite a lack of cultural cohesion and alignment as the primary reason integration efforts fail.”
Getting culture right is obviously critical after a merger.
William Bridges, author of one of my favorite books, Managing Transitions: Making the most of Change, wisely said, “It isn’t the changes that do you in, it’s the transitions.”
What he’s referring to here is that change is situational, as in the case we’re discussing here with a merger. But transition is “the psychological process people go through to come to terms with the new situation.” Thus change is external and transition is internal.(more…)