Best Relocation Practices for Managing Mergers and Acquisitions
As the global business environment continues to change and evolve, it is common for companies to be involved in mergers and acquisitions (M&A) as a means to further expand their organizations. There are many complex elements involved in an M&A, and managing the movement of your key talent is one critical piece.
Cartus has a lot of experience working through the complex issues associated with managing merger and acquisition strategies for companies of all sizes. Read our Mobility Insights: Relocation Best Practices for Mergers & Acquisitions, which discusses the challenges associated with an M&A, and offers best practices for success, both pre- and post-acquisition announcement.
Why Can Mergers and Acquisitions Be Such a Challenge?
While no M&A situation is exactly the same, relocation is one area that most organizations have very little experience in navigating. Proactive planning of a merger and acquisition process can anticipate some, but not all, of the mobility decisions that need to be made. Areas that can add complexity include size of the merger, differing corporate cultures, geographies, budget, benefit levels, and much more.
Relocation’s Place in a Merger
The task of implementing a new relocation policy may involve many obstacles. Relocation professionals play a pivotal role in managing the mobility aspects of an effective transition. Aspects of successful relocation program implementation may include:
- Gaining empowerment from upper management
- Addressing cultural differences
- Coping with delays
- Constructing a budget for merger-related mobility issues
Three Key Takeaways for Restructuring Your Mobility Program Post-M&A
Through the learnings and experience working with many organizations on M&As, and anticipating the challenges and tasks that lie ahead, following are three key areas that companies can benefit from if they are in the middle of a merger or acquisition:
1. Global Leadership and Corporate Culture Integration Training
To better navigate through the complexity of collaborating across various corporate cultures, companies have found Global Leadership and Cultural Integration training to be instrumental in learning how to work in a more cohesive environment.
2. Internal Process Reengineering
Conducting internal focus groups, voice of customer assessments, and process mapping of functions and touch points will result in efficiencies in cost savings.
3. Program Realignment
Conducting a 360-degree assessment to ensure your programs are competitive in your space and relevant to your companies’ current roles, levels, and employee demographical needs, is paramount to redefining your mobility structure and benefits.
For more information on successfully managing the relocation aspects of an M&A, read our Mobility Insights: Relocation Best Practices for Mergers & Acquisitions.
We hope that following these best practices is helpful for guiding you towards a successful outcome. Please email us at email@example.com for more information on M&As, we’d be happy to discuss further with you. And for more information on other areas of relocation, and to read Cartus’ research studies, visit our Resource Hub on Cartus.com.