Larry Polhill- Does Business Mergers Affect the Morale of Employees in The Business
Do mergers and acquisitions affect employee morale? This is a question that many businesses ask themselves. Experts in the field state that mergers and acquisitions do have a big impact on the reorganization of the business. Here, there are two groups of employees of both companies involved. They come from different cultures and working styles. For some employees learning a brand-new culture is challenging. This is so when employees are not sure about what the future of the business holds. At times a business merger might lead to the chopping off of jobs of some employees.
Larry Polhill- the future of employees during a business merger
Larry Polhill is the President, Chairman of the Board and Chief Executive Officer at American Pacific Financial Corp or APFC. Larry Polhill has over 25 years of invaluable experience in the field of business mergers and acquisitions. He also has been the Director of several companies in diverse businesses. He has deep knowledge when it comes to SEC and Securities. He provides valuable insights when it comes to Exchange and Commission. He also has been an Advisor to many companies and investors in the past as well.
Employees often suffer from stress when there is a business merger
He says when there is a business merger, employees often suffer from stress especially if they were not included in the business decisions that have an impact on their jobs. It is here that business owners have to manage stress of their employees effectively. If they are not careful, the employees will not be able to be productive. The change is often very hard for them to manage. It is crucial for employees to be critical when it comes to communication. Organizations should share information with their employees as to what is taking place. This helps them in a large way to cope up with the change and be less stressed.
Fear of job losses
When two or more organizations merge, there is a clash of company culture and this is something that both businesses cannot avoid. It is very rare for two business houses to have the same culture. It is natural that as and when these business houses get to know one another there will be a clash of working culture. This in turn will affect their productivity and may result in employees to leave the company and seek a job elsewhere. It is crucial for businesses and their managers to know one another and to openly address these concerns. The target here is that they must work together. In this way a new culture can gradually be developed. This benefits both the business houses and they can start off with high employee morale at the start of the business merger.
Larry Polhill says that it is the primary responsibility of the managers and the HR team of both the businesses to recognize the above challenges. Opportunities must be created where the employees of both the companies are given the chance to know one another. This will create a new working culture that will merge the strong points of both worlds.