The Role of HR in Mergers and Acquisitions
Event Review
JSB’s ‘The Role of HR in Mergers and Acquisitions’ took place on 27-28 February at the Grange Holborn Hotel, London. The two day conference provided the key issues which arise for HR when planning and co-ordinating a merger or acquisition and presentations were heard from, BT Global Services, Corus Group, Gate Gourmet, Herbert Smith, Hewitt Associates, KPMG, LogicaCMG, Siemens, Slaughter and May, Taylor Wimpey, Unilever and Waterstones.
The first day focused on the legal, cultural and leadership issues, which arise for HR during the M&A process. Throughout the day it became clear that HR is extremely well placed to gather information about the acquired body or organisation in the due diligence and consultation processes and practical advice was offered on tricky issues such as pensions, redundancy and staff bonuses.
Other key themes that emerged from the first day included the importance of planning and integration strategies, pre-merger or acquisition and the need for a well structured plan setting out both the short and long term targets of the deal. Identifying the correct leaders for the project and having a clear vision for the future were also key themes that came through from the presentations as well as the importance of creating a common culture post-merger whether it be a completely new identity or a best-fit mix of ones already in existence. However it was also noted that mergers and acquisitions can be a fun and exciting challenge for HR but ensuring brand awareness and suppressing uncertainty are certainly areas, which need to be targeted if the company wants to secure a smooth transition period and reap the rewards.
The second day went on to deliver practical advice on communication and integration techniques and how best to ensure the right talent is attracted and retained as well as transferred effectively between the acquired companies
The day progressed to cover the issues which arise for HR when preparing for a company sale or spinout such as payroll, benefits and vendor due diligence and offered a detailed case study on how HR can prepare and plan for a cross border European merger. The conference came to an end with some sound advice on designing and creating staff reward strategies and top tips for keeping employees engaged in the process, making it clear that people really are the key to a successful deal. Overall the two days were thoroughly enjoyed by all and gave an in-depth insight into the role of HR in planning and managing a company merger or acquisition.
Jo Mortlock
Conference Producer