Company culture and change is one of the most important discussions today. With the hybrid work challenges, and as some companies work through mergers and acquisitions, leaders need to get very clear on certain elements to help build a solid foundation so that they can Team Anywhere.
Today on the podcast, we interview Kim Clark Pakstys, thought leader and strategic advisor on mergers and acquisitions. Kim shares with us her experience with successful leaders who've been managing difficult mergers with patience, resilience and empathy. When two company cultures are merging, Kim shares five elements that leaders need to focus on to ensure a smooth change. These elements include leading with empathy, being clear on decision making and role clarity, coming up with a common language, and listening to the needs of your hybrid team.
Some industries have made more mergers and acquisitions since COVID than they ever had in history. Alternatively, other industries have paused mergers and acquisitions all together.
Prior to COVID, the conversation around whether the company was remote or in person was not a consideration as most had an office centric culture. Now, with so many companies adopting a “virtual-first” philosophy, it’s another critical consideration as leaders move forward with mergers and acquisitions. In a virtual first environment, it is difficult for new and newly acquired employees to assess culture. Leaders need to be extra cautious about the culture of their company and the implications on leadership alignment, accretion, value creation, and fit following an acquisition.
When two cultures are merging, there are five elements that companies need to focus on to adapt to a change.
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