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The People-First, Bottom-Up Approach to M&A

Amid the COVID-19 pandemic and daily geopolitical chaos, large mergers and acquisitions (M&A) deals have飙升256%季度,第三季度全球总共3,494份优惠。今年的第二个和第三季度导致私募股权的记录设定措施,私募股权的市场份额为19.7%,all-time high

规模,范围和人才池是驾驶交易决策的主要因素,让40%的受访者Mercer调查,conducted in September. The current environment — wherein companies being held to higher standards of social responsibility by their own employees and consumers alike — is putting a greater emphasis on getting the workforce issues right when merging or acquiring businesses, and it’s time for business models to transform.

成功的收购者正在采取人民首要的方法,并在C-Suite超越持续保留计划。

The categories of people-risks in the deals process include retention of key talent, integration of corporate culture and placement of the right talent in the right roles. Successful efforts rest on treating workforce risks in the same early-and-proactive manner as regulatory and tax risks, a mindset also underscored in this report ontalent retention

大多数交易所涉及的组织变革会产生额外的不确定性,而没有激励措施来保持士气和生产力稳定,它将导致员工开放或脱离。世界各地的成功收购者经常管理与他们管理资产负债表风险相同的严谨和纪律的人;他们专注于以下三名主要人士实践。

成功收购者的实践

聘请劳动力:The first step is to understand the workforce and define a strategy to build momentum during and after the transition. Change management is the glue that binds the objectives of the deal to the business strategy, leading to long-term value creation. This starts with articulating a vision, engaging the leadership and key stakeholders, and building a robust communications and workforce transition plan with identifiable metrics to monitor adoption.

将严谨围绕留住顶级人才:Retention programs are viewed as insurance policies to hedge against flight risk in transactions. By applying the right framework, buyers and sellers can effectively retain critical talent and drive operational excellence post-close.

奖励:对齐奖励 - 补偿,长期激励,福利等 - 是组织内的驾驶行为的基础,以解锁真实价值。

随着并购活动的继续,成功的组织不能忽视人才保留的正确策略。

A People-First, Bottom-Up Approach Is Key

在设计保留计划时,成功的收购者正在采取人们 - 第一,自下而上的方法。他们不是保留的第一次预算,然后向员工分发 - 典型的自上而下进程;相反,他们首先专注于人才,并确保保留的是重点关注关键员工。

这种自底向上的方法揭示了另一个significant trend: Retention programs are expanding outside of the C-suite. In fact, when asked about retention bonus eligibility outside of senior management and the C-suite, 70% listed “other employees critical for integration” and 35% listed “other employees regardless of critical for integration.”

In addition, the “where” matters. Mercer’s look at global talent retention practices reveals that a company’s headquarter location and industry can greatly influence talent retention practices, company culture and incentive structures. These nuances need to be understood and taken into account to avoid talent flight and to ensure the right level of expenditure. Buyers and sellers need to be aware of certain industries that pay financial incentives that vary greatly from the norm. For example, globally in the technology sector, buyers fund individual retention bonuses for all levels on average at 49% above the market median.

A Risk-Transfer Trend to Be Aware of

在目前的市场中,谋取越来越普遍。销售是一种激励安排,卖方必须满足某些财务目标和批判的里程碑,以便将来收到一部分购买价格。这允许买方将一部分交易风险转移到卖方。传统上用于激励和保留创始人,谋取越来越普遍是导航当前并购景观的机制,买家预计估值较低的估值和卖方尚未重新校准财务期望。

成功的买家保留圣升高rategies from an art to a repeatable science. The results are tangible and clear — increased productivity, engagement, owner-like behaviors on the part of retained employees and accountability. As M&A activity continues, successful organizations cannot risk ignoring the right strategies for talent retention. Taking the time to understand the workforce and culture of a new company is imperative, along with recognizing that people execute on what they are rewarded to deliver.

杰夫黑

Mercer的合作伙伴和全球并购咨询服务领导者

杰夫黑is a partner and Global M&A Advisory Services Leader at Mercer. With 25 years of experience as a trusted advisor to business leaders, Jeff advises strategic and financial buyers and sellers on global people risks through the full lifecycle of a transaction. A recognized expert in deals, he is a frequent keynote speaker and been widely published and quoted in numerous industry journals and media outlets.

Kristin Murphy

Mercer的全球并购战略和运营领导者

Kristin Murphy是Mercer全球和咨询服务的全球并购战略和运营领导者。她在人力资本咨询中拥有超过10年的经验,目前通过解决人们风险来提出捕获价值和实现协同作用的建议。Kristin拥有经营战略的专业知识,驾驶企业范围的转型,劳动力战略,运营模式和组织设计,变革管理和过程改进。

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