När förvärv och sammanslagningar lyckas, kan de vara det snabbaste sättet att växa och öka aktieägarnas avkastning. Men ofta uppnås inte det förväntade resultatet, trots att affären föregåtts av månader – ibland år – av planering och förhandling. Varför? I affärstidningen Harvard Business Review argumenterar forskarna Mina Milosevic, Katherine Rau och Lisa Steelman att insatserna fördelas ojämnt över processens gång.
I sin forskning har de funnit att mycket krut läggs på stadiet av förhandling och planering, som föregår affären. Förvärvade medarbetare, visar forskningen, känner sig däremot ofta underutnyttjade, undervärderade, underinformerade och i behov av guidning för att navigera integrationsprocessen. I ett fall som de undersökt, rapporterar de förvärvade medarbetarna lägre engagemang än de ursprungliga medarbetarna – bekymmersamt eftersom engagemang har avgörande betydelse för bolagets vinst och för kundnöjdheten.
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