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Once the business deal is done and the seller has been paid, the hard part for the buyer begins. Now that the buyer has acquired or merged a new company, he or she must learn to communicate with the new employees in a way that makes sense to them. The business culture is an important aspect of a company, and when two cultures are merged, or a boss is unfamiliar with a new business culture, then the employees will become unhappy. The following tips will better prepare you for merging a business culture with your own.
Get to Know Your Culture(s)
As with any new job, one cannot begin by doing things however he or she wants to—the same goes for acquiring a new company. If all of the employees are used to working a certain way, they will not be receptive to a bunch of sudden changes. Allow them to show you how their business culture works, and adapt as needed.
Study up on the culture of the area, just as one may when looking to move in to a new home. The etiquette in New York City may differ greatly from that in Maine. Be aware of these differences and prepare yourself to do what it takes to mesh both cultures and your own habits.
Involve employees. Ask them what they want to see more of or how they feel the merging of cultures would best be assimilated. Keep an open conversation about the merger and ask employees to tell you if any clashes arise so that you can address them.
Create opportunities for the employees to get to know each other and merge the business culture naturally. Set up outings and seminars. Create camaraderie.
If one company’s employees is used to a weekly bagel breakfast, do not eradicate their customs. Instead, adapt it for all employees. No one will complain about free bagels, but those that are accustomed to it who suddenly watch them disappear will complain.
While it takes a lot of effort to merge a business culture, it is worth it in the end. If employees cannot work well together or under your rules, then your business will not continue to run smoothly. However, by putting in the extra energy, your employees will respect your efforts. If you need any help in the M&A process, contact George & Company for a no cost - no obligation confidential consultation.