Taking care of people while taking care of business.
Many of today’s business leaders would agree that it is important to take care of employees after a merger or acquisition, but despite good intentions the human factor (read: unpredictable) can lay waste to best laid plans or plans not laid at all.
"I’ve had M&A guys tell me that after buying a company for hundreds of millions of dollars they watched as the value tanked because the star performers stop performing," says Andrew Reid, Big Fish Interactive, a Toronto-based developer of leadership and corporate training programs. "They planned upfront for every eventuality except the one that can break a company – not taking care of the people."
While these companies can create short term results with better products and pricing, sustainable growth and revenue happens only when leaders focus on business relationships. "The relationship between staff and the new company direction is key," suggests Reid. "Employees worry about mortgages and tuition costs when change threatens their security or personal contribution."
Anyone who has lived through a merger will identify with the behavioral issues that change brings. Some organizations promise lucrative bonuses and other incentives in order to keep behaviors in check and to hold onto talent after a merger, but Reid believes that it is important to deal honestly with employees need to participate in positive change. "We run a lot of programs geared to helping staff through the transition while also laying the groundwork for future growth."
One point Reid imparts to leaders is that employee departures and performance issues after a merger are good feedback to management that they have not inspired a strong following. "Employees will always follow a dynamic leader who pushes them to greater goals....and, here's the key message...when those employees have been invited to actively participate in their own success."
Contact Big Fish for more information about helping employees through change.
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You are invited to a free leadership training open house at Guthrie CastleYou are invited to a free leadership training open house at Guthrie Castle.
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Open House
The Big Fish open house at Scotland’s Guthrie Castle will show you why leadership and teambuilding have changed a lot since the year 1468. For those on the other side of the Atlantic Ocean this event is your ticket to meet Andrew Reid, and a great opportunity to take a look at everything Guthrie Castle has to offer.
To join us on June 23 please email Andrew at a.reid@guthriecastle.com or visit the Guthrie Castle website for more details plus the open house agenda. We hope to see you there.
Guthrie Castle Open House
Thursday, June 23, 2005
10 am to 1 pm
Guthrie
By Forfar, Angus
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Jim Hayhurst Sr., legendary Canadian ad man, author, motivational speaker and founder of The Right Mountain Inc., is sharing his inspiring story May 25 at the Future Leaders Leadership Charity fundraiser, in support of Trails Youth Initiatives. Jim’s tales of The Right Mountain is his the story of climbing Mount Everest, and the lessons learned of what it means to be successful.
Big Fish is an official sponsor of Future Leaders, a not-for-profit organization promoting leadership and entrepreneurial skills to 40 and under professionals. Go online and register today as our past two events sold out!
