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- Title
Mergers, acquisitions and takeovers: maintaining morale of survivors and protecting employees.
- Authors
Gutknecht, John E.; Keys, J. Bernard
- Abstract
Acquiring and merging companies are beginning to realize that maintaining the morale of surviving managers is vital to the successful conclusion of an ownership changeover. Downsizing, layoffs, and their concurring increased workload may, however, have some positive effects on the remaining staff. The key to morale maintenance is systematic preparation for change. This article discusses this need and recommends steps to assist companies in effectively implementing mergers and acquisitions. Communication must be planned and well executed. A new strategic plan should be developed and shared with the acquired and the acquiring company. Flexibility and creativity are needed when dealing with job changes. Finally companies must invest in development and retraining of the survivors of a merger or acquisition.
- Subjects
UNITED States; MANAGEMENT; MERGERS &; acquisitions; PERSONNEL management; COMMUNICATION in management; EMPLOYEE retention; EMPLOYEE morale; LABOR incentives; EXECUTIVES; CHANGE management; STRATEGIC planning &; economics; OCCUPATIONAL retraining; EMPLOYEE attitudes
- Publication
Academy of Management Executive, 1993, Vol 7, Issue 3, p26
- ISSN
1079-5545
- Publication type
Article
- DOI
10.5465/AME.1993.9411302344