example of Impact - GOVERNANCE, RISK MITIGATION & CHANGE MANAGEMENT

Establishing a change management strategy

details

Client background and situation:

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Merger between two companies required a comprehensive change management program to be put in place

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Merger between two companies required a comprehensive change management program to be put in place

Acquired company employees were especially anxious about the implications of the merger on their jobs and how the company would operate going forward

Acquired company employees were especially anxious about the implications of the merger on their jobs and how the company would operate going forward

THe past

Prior approach & challenges:

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Very little communication about the post-merger company set-up was communicated to employees leaving a vacuum for rumors and anxiety

The two company cultures were very different and made coming together a greater challenge but also imperative

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Very little communication about the post-merger company set-up was communicated to employees leaving a vacuum for rumors and anxiety

The two company cultures were very different and made coming together a greater challenge but also imperative

solutions

Coppertree Partners approach:

created the case for change

Crafted compelling vision and rationale for the merger – how it was critical for survival in the industry and to be more competitive but it would also yield opportunities for employees to gain new experiences; there would be changes and some difficult ones but management was committed to being upfront and honest

established change governance

Identified working groups from both organizations of “change champions” including fair representation of senior leaders (“two in a box”) who would take part in transparent decision-making processes

developed change communication plan

Assembled schedule of relentless and sustained events involving management team in a variety of formats – town halls, emails, intranet blogs, etc

monitored change receptivity

Created, deployed and analyzed surveys to capture employee sentiments and effectiveness of change messages; did not want to assume they were successful

designed change assessments and training

Developed ability for each team to assess readiness of employees for change, identification of any barriers, and training/guides to help with messaging

Impact:

  • Successful merger and stronger support and enthusiasm recorded over the course of the merger preparation (from 25% initially to 80% support)

Additional insights and takeaways

A change program must be robust and flexible and requires top of the house engagement and leadership. You should involve all layers of the organization as people are more invested if they have been brought into the process even if you need to sacrifice some efficiency. Middle-management layers are critical as this is a population usually rewarded for stability in operations and could block or slow down the change unless reward systems and recognition are modified to reflect the change environment. Employees also can’t just be told to change. They need to have a broader understanding including what is being changed, why it’s being changed, what are the implications for them in the change and why they should care, and the role they will be required to play during the change. In all of this they also must believe they are being told the truth.┬áData is also important to understand starting point and progress throughout the journey.

Get In Touch

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NEW YORK, NY

917-727-6345

neil@coppertreepartners.com