HR Culture Fit – Merging and Acquisitions

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HR

HR Culture Fit – Merging and Acquisitions

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Are you looking to grow your business? Great! An effective way you can achieve this is by merging businesses or acquiring another. However, there are a few key points you will need to consider from a HR point of view.

One of the main factors to consider is culture. If you’re looking to grow by acquiring another business you need to ensure there is a good culture fit. Unfortunately, this is something that is not considered enough or at all by business owners.

It’s important to have a good culture fit to ensure that once you have merged your businesses are able to not only continue but to flourish and grow. There are unfortunately far too many statistics out there which show just how many businesses fail once they have merged. This can be up to 80% of failures lasting up to only 5 years.

In this video, I explain why it’s so important we focus on the people side when merging businesses and why you need to be looking at including culture in your due diligence.

Firstly, you need to look at what the values are of the company you have acquired or merged with and see if that matches up with your current business’ values. Consider things like, how does that business make decisions? What are their core beliefs and aims? How do they reward and treat people? All of these things will have a massive impact on how your business is going to continue in the future.

It’s the small things like this that are really worth considering, as they can often cause problems further down the road. So my advice, if you’re really looking to merge or acquire another business you must look at the culture and make that a top priority.

If you would like some more HR advice on how you can grow your business and make it last get in touch today.

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