During the transaction process, many companies can be stressed and remain stressed for some time even after the deal is done. The first few months after a company merger can be especially stressful. In order not to lose your head in this process and not to let the company’s work go on its own, we offer to take help in compiling a 100-day integration plan checklist.
Why is a post-merger checklist necessary?
The first months after reorganization can be difficult not only psychologically, but also practically. Managers may not have time to physically monitor the new working conditions, employees, and the quality of their duties. Therefore, for such cases, experts advise making a 100-day integration plan.
It can be used to create a practical guide for the company in the first weeks after the reorganization, and it should not only describe the main directions of the company’s development, but also the specific responsibilities of employees that they should perform. Such a plan should take into account not only the current needs of the company but also the leading workflow practices that will help maintain stability in any environment. Some experts even advise making such a plan before the deal even begins, so that you won’t be distracted later by other, equally important tasks.
What should an integration plan look like and what kind of post-merger integration toolkit do companies need?
To make sure your post-integration plan is as useful as possible, you need to make sure it covers as many facets of the company’s life as possible. Typically, a post-integration plan contains:
- An introductory section, where you need to state the company’s new name and future development goals;
- Legal issues;
- Clauses that regulate relations with employees;
- Issues that relate to the conduct of financial and accounting activities;
- Closing paragraphs.
This is a sample list of items that should go into a post-merger checklist. That being said, each part can be divided into paragraphs and sub-paragraphs – the more there are, the better because that way you can cover all the important aspects of the company’s operations.
To make sure that your checklist is comprehensive enough, you should entrust it to a separate team of experts. This can be either employee of your company or an invited expert. You can also hold a discussion and vote on the items on the list to hear what your employees think about its contents.
You need to use reliable software to compile the list. Virtual data rooms are effective enough for this purpose. they contain quite a few useful checklist tools, among them:
- Tools for framing the list as a finished document, and ready-made templates can be used for this purpose;
- Options for communicating and tracking employee actions;
- File storage in which all documents that relate to the company’s status activities and employees’ personal files can be stored;
- Virtual rooms for online meetings.
With the right workflow in place, you can properly prepare for the merger process and create a checklist that takes into account all the specifics of the company during the transition period.