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Transitions acquisitions-change
1. Transitions - Acquisitions
Change
Ralph Lassiter
Fighting the Urgency Addiction
Training & Organizational Development
2. Guess What?
However, I will share . . .
Reasons for acquisitions
Current Integration process
Approach to managing change
Measurement process
Lessons Learned
Continuing issues . . .
3. HDR’s Strategic Goal is to be . . .
One Great
Sustainable
Company
Return on
A Legacy Firm Shareholders’
Investment
4. Four Themes Drive Our Strategies
A Legacy
Firm
Employer Organization Consultant Investment One Great
Sustainable
of Choice of Choice of Choice of Choice Company
Return on
Shareholders’
Investment
• Acquisitions is at the core of HDR’s growth strategy.
• Acquired firms close gaps in geographic presence or service lines
7. Our Acquisition Process is fairly typical
Integration Business Leader
Process Recommends
Begins Target
Management
Document Signing
Team Makes
&
Go/No Go
Announcement to Staff
Decision
Final Decision Due Diligence
Made Conducted
• Acquisition Manager
• Business Champion
• Finance Manager
• HR Representative
8. We’re still taking baby steps with our
Integration Process
1. On-site Integration Manager
Former operations leader
Primary liaison & communications agent
Guides integration process
2. Integration Checklist
Designed by T&OD
Schedule-specific activities
Completed during change management training
3. Change Management Training for Leaders (1 day wksp)
Immediately following deal signing
Focus is understanding and applying key principles
4. Change Participation Training for Employees (1.2 hr mtg)
Focus is seeing the silver lining & participation in the integration
process
9. Key message for leaders – “Making the deal is a
warm-up, the real job is making the deal work!”
Mergers/Acquisitions start as Financial Proposition
But become a Human Transaction
Leaders must manage the transition of process,
procedures, systems, etc, etc (CHANGE)
Performance Consultants provide CM technical
assistance
Prosci certified (www.prosci.com)
Extensive tool box (templates, sample plans, forms, etc.)
10. Prosci’s research indicates that the greatest
contributors to success . . .
1. Active and visible executive sponsorship
2. Buy-in from front-line managers and employees
3. Exceptional project team
4. Continuous and targeted communication
5. Well planned and organized approach
Source: 2006 Prosci Research Report
11. Our experience indicates . . .
Build leader change management competency
IMMEDIATELY!!
Develop a CM Plan with involvement from
leadership team (HDR & acquired firm)
Over communicate with all key stakeholders
Integration manager on the ground from the beginning
Integrate CM activities within reoccurring
management activities
CM or Integration is a regular management team agenda
item
12. Tendency is to apply CM as an after thought . .
1st acquisition: 80+ employees
No Change Management
Business 5 original employees retained, 5
processes years later
Change
management
process
13. Integrating CM, from the beginning, generates
significant returns . . .
1 Year Post Acquisition Measurement
indicates that CM integration Increases:
• Productivity
• Service & Deliverable Quality
• Client Satisfaction
• Morale - Less employee resistance
• Profitability
Business • Organizational Change Competency
improvement
process
Change
management
process
15. Transition Performance Curve
Leaders’ Goal with CM:
• Minimize Magnitude of Performance Drop
• Minimize Length of Performance Drop
Future
Performance
Current (t)
Performance
(d)
Time
16. Change Principles – In Summary
Communicate – Communicate - Communicate
Seek input - Encourage Questions & Opinions
Don’t Be Afraid to Seek or Share Bad News
Being Well Informed Reduces Concern & Resistance
Anxiety caused by Change is Natural & Inevitable
Managers & Employees React to Change Similarly
Build Desire – Business & Personal Change Reasons
Successful Change is an On-going Process
Requires Everyone
Takes Planning & Time.
Problems will Occur, Even with the Best Planning
Be Patient, But Proceed with a Sense of Urgency
17. Communication is Critical
Most merger integration problems rooted in
communication issues
Communication problems
Lead to Productivity problems
Lead to Morale problems
lead to Profitability problems
“I don’t understand how these changes affect me!”
18. Develop a Communications Plan
Start communication effort ASAP
Communicate frequently
Use face-to-face methods primarily
Provide regular, written acquisition updates
Address impact on employees
Seek bad news
Provide avenue for employees to ask questions
All managers should practice MBWA
Regular communications from senior manager
19. ADKAR is introduced as primary CM tool
ADKAR consists of five phases that occur when
change impacts us:
Awareness of the need for change (why).
Desire to support and participate in the change (our choice).
Knowledge about how to change (the learning process).
Ability to implement the change (turning knowledge into
action).
Reinforcement to sustain the change (celebrating success).
20. With non-managers, the goal is to have
them participate in change, not perceive
selves as victims
Ask questions and make recommendations
Help solve problems, support your co-workers
and remain results oriented.
Avoid public support and private criticism of
change; instead discuss concerns openly
Take advantage of opportunities to grow
professionally.
21.
22. Change can feel like a jump into
the unknown – bringing fear,
anxiety, anger and confusion.
You may ask . . .
“Why am I doing this?”
“Will it be easy & painless?”
“Or difficult & scary?”
Finally . . .
“Where & how will I land ?!?”
23. Once you leave behind what
is known and safe, you’ll
find yourself in a place of
ambiguity and
disorientation –
The Neutral Zone
You may have no control over
your environment,
But, you do have control over
your response to the
environment!
24.
25.
26. Key Principle
The actual impact of each change on you is directly
related to how you react to the change.
.
27. Build & Maintain Your Resilience
Anticipate change
Take care of yourself
Train for change
Use a wide angle lens
Learn from the past
Ask advice from veterans
Be flexible
Know & use available resources
28. Lessons Learned – Continuing Issues
Never a good reason to not build CM competency
Integration management is a full-time assignment
Due diligence should include culture assessment
Toughest call: Good deal financially but poor culture fit
Assessment is 1 year post-acquisition
Measure Morale-Engagement sooner
The BIG One! (400-500 employee firm) – Yikes!!
29. Transitions - Acquisitions
Change
Ralph Lassiter
Fighting the Urgency Addiction
Training & Organizational Development
