Successful companies have one thing in common: they are capable of change. Failed change processes find their root cause in lack of acceptance by staff, caused by poor communication. In this context, the initiation and unification of the staff are crucial for successful change.
Companies have to adapt their structures to internal developments, but also market and competitive conditions. When a company has grown stronger or has moved into new business fields, actions such as mergers & acquisitions, management changes, and the reorganization of departments are taken. Mergers & Acquisitions (M&A) is a collective term for mergers, company acquisitions, transfers of operations, or takeovers.
Banks are currently discovering mergers as a possible solution to counteract low-interest rates, regulatory pressure, and dwindling earnings. A merger can release synergies and reduce costs. The intended merger outcome often differs from reality.
70 to 90 per cent of mergers and acquisitions fail
Big changes bring uncertainties, especially for the staff. To avoid chaos, not only must they be properly briefed, but it is also important to involve every single employee in the change process and to provide appropriate support to managers.
Transformation only succeeds with team unification
It is not just two companies that are being brought together, but different players from different teams. This change holds room for many challenges, but also offers the opportunity to rethink and redevelop the team composition. Getting the teams together in the best possible way is a crucial factor for success in order to quickly get into effective cooperation.
How to get everyone on board and accelerate team building
It is important to involve the entire organisation – from the administrator to the board – in the change measures and to create acceptance for the change. This can be achieved by taking into account which values each individual represents and what drives him or her. Our values determine our actions and can serve as a compass for change. Deciphering the values of each individual enables accelerated team building. In this way, each person learns from the other what is important to him or her and what he or she likes to do, without the employees having to get to know each other personally for a long time.
Where can employees be deployed best in the new company constellation? In order to find the optimal area of deployment for each individual, it is helpful to divide the team into different team roles. By effectively combining the team members into team roles and filling all relevant team positions, an optimal team set-up is created. This enables responsibilities to be clearly defined from the outset.
Within a specific role, the employees are encouraged to show maximum commitment. Last but not least, it also helps the manager to quickly get awareness of which types are represented in the team: What kind of people do I find? What should I pay attention to when working together?
Simulate team success probabilities
How would it be if you already knew the success factors of future teams? With collected insights from thousands of projects, it is possible to make predictions about team success even before the change and to make challenges of teams visible. In this way, success factors can be used to avoid mistakes.
It helps to distinguish between different types of teams. Depending on the task of the team different challenges arise. It is important to pay attention to the specifics of the teams. Understanding the challenges of the teams helps to identify where problems may arise and what areas of development still need to be worked on.
Mastering change with digital team optimization
Data-based approaches can fundamentally improve the change management. Every decision that successfully moves you through change can be supported by digital analytics. This is done by using insights from thousands of data sets and applying them to established models.
With the help of various measurable indicators, the change can be analysed – What is going well? Where is room for improvement? With a glance at the company dashboard, these questions are answered quickly. Challenges can therefore be identified at an early stage for proper handling.
The digital team tool can find the optimal intra-team roles for everyone when merging and reconfiguring teams. The Question tool helps to identify what employees really need and how they can perform to their full potential within the new structures. The results provide managers with objective decision-making assistance.
For MONDAY.ROCKS, the key to modern and digital team development lies in the combination of digital analyses and team experts who actively accompany the implementation of the findings. Therefore, we offer a solution for long-term change that enables a new way of working together and can continue to operate independently – without permanently employing consultants on site.