Human Resource Under Construction : The key individual in the merger and acquisition process and their aftermath
Keeping the key individuals in a post merger and acquisition situation is vital to preserve the value of the investment. Yet it is not uncommon, in relation to mergers and acquisitions, that key individuals not only leave the organization but assumes a position with a competitor or even start a competing business. This problem was highlighted as a sug-gested topic for this thesis by Nordic Construction Company (NCC).
Findings from interviews with 4 key individuals at NCC and 6 individuals with a combined experience of the human resource management aspect of the merger and acquisition process and its aftermath, show that the primary reasons why key individuals leave is, even if the deciding factor differs, strongly linked to uncertainty that can be reduced with a suffi-cient communication strategy.
This thesis suggests a number of potential actions of improvement to the NCC merger and acquisition process and its aftermath. The following human resource influences should improve the NCC merger and acquisition process in order to prevent the loss of key individuals
• Introduce the human resource aspect into the strategy discussion during the merger and acquisition preparation phase.
• Infuse human resource related enquiries into the discussion with the target organization’s owners, during the initial due diligence phase.
• Conduct qualitative and quantitative human resource research that relate to the set human resource management strategy, during the due diligence phase as soon as access to the workforce individuals have been granted.
• Implement extraordinary PLUS conversations with key individuals shortly after the closing of the deal process.
• Modify the welcome package that is communicated in relation to the merger or ac-quisition so that it includes a list of communication channels, a contact information list and a message in alliance with the human resource strategy. This message should put the individual in the center by focusing equally on the expectations flowing from the individual to the new organization and vice versa.
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