The qualities, perceptions, and behaviors that serve as guiding principles for everyone in a company are referred to as company culture.
When your business multiplies, however, it can be difficult to maintain that culture, which can have a negative impact on the rest of the company.
Once a business is acquired, its culture can change for the good or for the worse.
When you acquire your firm, your existing staff will be terrified. Nearly everyone relies on a job to make ends meet, and your employees will be concerned about their future employment prospects.
Workers who are anxious are inevitable, but panic and mass uncertainty can be avoided. There are several things you can do to make the transition easier, regardless of which side of the acquisition you’re on.
Make it clear what’s coming next
The important factor to a smooth acquisition is clear and frequent communication. Clarify employee roles, advantages, and compensation, get to know new workers on a personal level and inform them about your managerial style and culture.
Make a list of your cultural delegations
If you’re buying a firm, the old workers of the company are almost certain to want to help with company culture initiatives.
Bring these employees in to act as ambassadors with their organization to help other employees buy in faster.
When Facebook obtained WhatsApp, for example, founder Jan Koum did an excellent job guiding his team through the process while ensuring WhatsApp’s culture and independence was preserved.
By showcasing it as a partnership and setting up a time for Mark Zuckerberg to meet with the staff in person, Koum was successful in gaining buy-in from his team.
Also read, Building your Company Culture to Scale
Concentrate on the most crucial matters
Staff members of the company obtained want to know what will be abandoned when their business is owned when larger companies take them under their wing.
Be honest with your new hires about the things that will alter, as well as the elements of the culture that will remain the same.
Evaluate your abilities at your disposal
When you hire new employees or your company is acquired by another company, you must consider the talent you bring to the table.
Consider what each individual can bring to the larger organization. It pays to be patient and thoroughly assess your abilities before making any hasty decisions based solely on financial considerations. This is critical because each employee has their own strengths.
Create a comprehensive orientation program
This should be far beyond the fundamentals of job titles, pay, and advantages. To enlighten new staff, include comprehensive additional details about the acquiring company, but avoid treating employees like new recruits.
Given that many of them have likely been with the company since its inception, it’s critical to treat them with the credit they deserve.
First and primarily, fully understand your company’s objectives, vision, and principles, so they know how they can contribute to its achievements.
A lot of things are in fluctuation, whether you’re buying a new company or being bought. If you don’t effectively explain changes to employees, disparate cultures and fresh faces in the reception area will reproduce anxiety.
You can calm the anxiety of your staff, facilitate the transition, and boost the main firm as a whole by owning up to its efforts of acquiring a company or recognizing the turbulent nature of being obtained.
Notwithstanding the number of new staff you recruit or how sizable or quick your company grows, utilizing these simple but effective methods will assist in keeping your company’s culture solid.
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