The Role of Training During Mergers and Acquisitions
with Daniel Binkholder
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The BizLibrary Podcast is back with another episode. This time, we’re discussing how L&D and HR departments can use training to make the merger and acquisition process proceed smoothly.
Brand consolidation is a growing trend, and companies will continue to need to grow larger to stay relevant in a globalized marketplace.
That said, mergers and acquisitions can be a source of stress on organizations – there may be stress due to fear of layoffs, redundancies in departments, and clashing cultures. However, when managed well, a merger or acquisition can dramatically improve your market standing as companies consolidate clients, products, and markets.
It may be tempting for training programs to take a “wait and see” approach to mergers and acquisition, but this approach ignores the fact that leaders, managers, and individual contributors all need to learn specific skills to successfully navigate a merger or acquisition.
Managers need to know how to communicate information effectively, without leaking confidential information. Account managers must know how to anticipate and answer client questions, so that client retention remains high.
All of these necessities all fall on the shoulders of L&D, and begs the question: if mergers aren’t the perfect time for learning and development programs to establish their value and be agents of change, when is?
Unfortunately, data suggests that many organizations fail to allow training programs to become true catalysts of change.
Research from the Project Management Institute shows that only 18% of organizations are effective change enablers. Using training to build a more agile company is one of the many roles that training program managers must take on to optimize the ROI of their programs.
Thanks for listening to this week’s episode of The BizLibrary Podcast! When you’re done listening, be sure to download the Crisis Management ebook! It’s full of strategies and has a workbook section so you can better prepare your managers and leaders to navigate the seas of change!