We are (hopefully) quickly approaching a world post-COVID. As things return to normal, employers wrestle with the question of whether or not to return their employees to the office. If this last year has taught employers anything, it’s that employees can still effectively do their jobs from home—and they want to!
Hiring great employees does not stop at their qualifications listed on their resume. Of course the candidates’ qualifications matter, but it’s also important for hiring managers to place an emphasis on the emotional intelligence of their employees. Studies have shown those who manage and understand their own and others’ emotions are better equipped to handle the pressure of being a leader.
Raise your hand if you want a frigid work environment! Nobody? Well…
It’s no secret that downsizing or merging a business means facing inevitable challenges such as combining two different work cultures. The process is often expensive and draining, but there are steps that can support a smooth transition for both employers and employees.
Do you want to increase the value of your company? Who wouldn’t! When you hear the word “value,” however, what do you think of? In many cases, dollar signs flash in front of people’s eyes. And for those undergoing a merger, adding monetary value to one’s company would likely pass without complaints.
Woohoo! Congratulations. A prospective buyer is interested in acquiring your business! But hang tight, because that’s just the beginning. Do you have your due diligence checklist ready?
The M&A process is an exciting but lengthy one. It can last anywhere from months to years depending on the size of the company involved in said transaction.
A large portion of this time, in fact, is dedicated to conducting due diligence. Here, we’ll give you a guide that ensures your M&A due diligence runs as smoothly as possible.
Let’s start with the basics.
Congrats! Your merger is underway. Your hard work has nearly paid off! But you’re not quite done yet. That is—unless you want sh*t to hit the fan.
At Culture Works, we don’t want that—and neither should you. Did you know that more than half of mergers and acquisitions fail? And the reason behind it? The clashing between two separate company cultures: Culture shock.
If you’re looking to merge your company down the road, you need to consider your options to be one of the few successes. This includes, in many cases, deciding to hire a facilitator to help merge two cultures.
Here’s why.
Entering into a merger can be challenging for both companies. Whatever your reasoning for the merger, one thing is for sure—change is coming. According to Harvard Business Review, between 70 and 90% of mergers and acquisitions fail. Culture clash may be to blame for this extremely high number.
There are a few things you can do to combat this issue.
There’s a gap in organizational development. We’ve seen it time and time again. Organizational leadership is focused on the wrong areas of their business. We constantly ask leadership to give us a rundown of where they’re spending their time, and it’s typically not focused in the right areas.
With all the headaches that came our way last year, it’s time to consider beefing up your HR team. Along with the normal compliance, people, and cultural issues that come with human resources, there is now a whole new set of potential issues to consider. Is your company really looking at the people in operations who are working toward your greater success? If not, it’s time to start. HR “unicorns” have 20+ different jobs that create success. Our founder and CEO, Kristi Pastore explains a few different HR touchpoints to focus on as you look to the future.
The COVID-19 vaccine has now become widely available in the U.S. As more and more people get the vaccine, employers are asking whether or not the vaccine can or should be required to return to in-person work in the office. With the desire for life to return to normal, some employers think of the vaccine as a way to make employees feel safe as they return back to the office, however, this may bring up greater HR issues that employers may not yet have considered.