Company culture refers to the qualities, perceptions and behaviors that guide everyone within a company.
It can be hard to maintain a positive culture when your business grows. This can lead to a negative effect on the rest.
After a business acquires another, the culture of that company can change.
Your current staff will fear you when your company is acquired. Nearly everyone depends on a job to survive, so your employees will worry about their future prospects.
Although anxiety is inevitable in workers, panicking or mass uncertainty can be avoided. There are several things you can do to make the transition easier, regardless of which side of the acquisition you’re on.
Make it clear what’s coming next
Clear, frequent communication is the key to a smooth acquisition. Clarify the roles of employees, their benefits, and compensation. Get to know new workers and tell them about your management style and culture.
List your cultural delegations
If you’re buying a firm, the old workers of the company are almost certain to want to help with company culture initiatives.
These employees can act as ambassadors for their company and help employees to buy in more quickly.
When Facebook obtained WhatsApp, for example, founder Jan Koum did an excellent job guiding his team through the process while ensuring WhatsApp’s culture and independence was preserved.
Koum gained buy-in by his team by making it a partnership and setting up an appointment for Mark Zuckerberg to meet in person.
Concentrate only on the most critical matters
The company’s employees want to know what happens to their business if it is sold and taken over by larger companies.
Talk to your new hires honestly about what will change and what will stay the same.
Assess your capabilities
Be sure to consider your talents when you are acquiring a company or hiring new employees.
Take into account the contributions each person can make to the overall organization. Be patient, assess your capabilities and don’t make decisions solely based on financial considerations. Each employee has their strengths.
A comprehensive orientation program should be created
This should include more than just the basics of pay and job titles. You can provide additional information about the acquisition company to help new employees, but not treat them like potential recruits.
Given that many of them have likely been with the company since its inception, it’s critical to treat them with the credit they deserve.
First and primarily, fully understand your company’s objectives, vision, and principles, so they know how they can contribute to its achievements.
A lot of things are in fluctuation, whether you’re buying a new company or being bought. If you don’t effectively explain changes to employees, disparate cultures and fresh faces in the reception area will reproduce anxiety.
Your staff can be calmed, the transition will go smoothly, and the overall firm will benefit by being open to the company’s efforts to acquire a company, or acknowledging the unpredictable nature of the acquisition.
Notwithstanding the number of new staff you recruit or how sizable or quick your company grows, utilizing these simple but effective methods will assist in keeping your company’s culture solid.