Post Merger Checklist

Source: Partner Insights

Consultant August Aquila tells how to ensure a successful integration of two firms by paying careful attention to the soft issues. Here are some highlights:

• A new firm must be created. Only the people in the combined firm can make that happen. What will leadership do to make sure it does?
• Partners in the new firm may develop stratagems for acquiring more power. How will the firm deal with this?
• The two firms previously followed different policy and procedure rules. Set up a training program to teach people the new ones.
• After you decide whom you want to stay with the new firm, be sure to communicate this so you do not lose them.
• Study employee attitudes after the merger and compare them to a similar study 12 months later. Address any problems.
• You will need a method of obtaining information on what is working and what is not working as the new firm moves forward.
• Some people in the new firm may feel insecure going forward. Determine how to allay fears.
• If staff members have questions on the merger, whom do they ask?
• Set up an official communication medium for information on the merger to avoid rumors.
• Inevitably some negative attitudes will be expressed about the merger. Determine how you will control them and prevent their dispersal.
• Are both client bases served well by the resources of the new firm? Analyze the differences and take action to ensure service does not deteriorate for some clients.

From Aquila Global Advisors, LLC, Partner Insights, August 28, 2007, www.aquilaadvisors.com. For the complete article, click here.