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Surviving Mergers and Acquisitions
In 2007, Ernst & Young’s Mergers and Acquisitions Resources Index showed that there has been a steady increase in corporate acquisitions since 2004. In 2004, there were 30,000 acquisitions worldwide – or about one transaction every 18 minutes (Cartwright, S., & Shoenberg, R., “Thirty Years of Mergers and Acquisitions Research: Recent Advances and Future Opportunities,” British Journal of Management, 17, 1, 1-5, 2006.)
If your company is going through a merger or acquisition, and particularly if your firm is the one being acquired, you may be concerned about how this business change will affect your job.
In 2007, Ernst & Young’s Mergers and Acquisitions Resources Index showed that there has been a steady increase in corporate acquisitions since 2004. In 2004, there were 30,000 acquisitions worldwide – or about one transaction every 18 minutes (Cartwright, S., & Shoenberg, R., “Thirty Years of Mergers and Acquisitions Research: Recent Advances and Future Opportunities,” British Journal of Management, 17, 1, 1-5, 2006.)
If your company is going through a merger or acquisition, and particularly if your firm is the one being acquired, you may be concerned about how this business change will affect your job. After all, mergers and acquisitions are a major source of job losses and changes. Consider these tips to help you ensure you convey a proactive, professional, committed employee attitude to your managers. While these ideas will not guarantee that you will survive any job cuts, they will help you put your best foot forward. In the long run, whether you are able to keep your job or find yourself having to move on to new opportunities, presenting yourself as a dedicated and useful employee will pay off in the long run.
- Communicate – and communicate with the people that matter. Don’t sit around the office listening to or spreading the latest supposed “news” about what’s going on with the company. Listening to the water cooler gossip about the company’s changes can only cause paranoia and is never productive. Instead, go to the sources if you want to find out the latest information: your manager, your manager’s manager, and so on.
- Do your job – and do it well. Take a step back and evaluate yourself. Based on your job goals and duties, how are you doing? In what areas could you improve? This is the time to take yourself seriously, to really determine where you think you shine and what more you could bring to the table. You may want to consider speaking to your supervisor as an “informal” evaluation – ask her or him what they think of your performance. Alternately, have a meeting with a close colleague who could give you an unbiased opinion of your work performance. Then, take the initiative to address your weaknesses: when the company is in flux, this is the time to focus on being the best employee possible.
- Assess your strengths. At some point during the company change, it’s possible that management will want to assess your value to the company. Make a list of your accomplishments: how have you improved processes, or increased profit? What benefits have YOU contributed to the company? This is not a time for modesty: rather, you want to showcase your accomplishments so that your employers see the value of you as an employee.
- Stay informed. While this goes right along with communication, broaden your information search beyond your office walls. Learn about industry and business trends. Gather information on the new firm merging or acquiring yours. Become an “expert” about your line of work. Such knowledge can help show your commitment and dedication to your business.
- Be flexible. If there are staff cutbacks, you may be asked to take on a role slightly different from your own. Be a team player, and provide support where asked, but also make sure you are clear on your new duties and how you will be expected to combine them with your primary job function.
Written By: Cullen Bunn
Date Posted: 9/11/2008
Number of Views: 427
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