××公司合并和获得的文化整合的重要(3).pptxVIP

The Importance of Cultural Integration in Mergers and Acquisitions 14 March 2002, ShanghaiKwan Chee WeiDirector Human Capital GroupWatson Wyatt SingaporeAgenda M A Statistics What is Culture?WW’s Approach to Cultural IntegrationA Case Study Q A AgendaM A Statistics What is Culture?WW’s Approach to Cultural IntegrationA Case Study Q A ‘Cultural People’ Issues Often Present the Biggest Challenges“The hard stuff is easy - it’s the soft stuff that’s so hard to change.〞 - Frederick Smith CEO, Federal ExpressWatson Wyatt M A Survey 1998(190 CEOs, CFO, Top Executives) 75% are clearly disappointing or outright failures50% suffer an overall drop-off in productivity in first 4-8 months47% of acquired company executives leave within the first year; 75% within the first three years“People problems〞 are cited as the top integration failure factor by a sample of 45 CFOs from Fortune 500 companies who have recently merged/acquiredOnly 23% of all acquisitions earn their cost of capitalOn average, management grade the financial performance of their alliances as a “C minus〞 (on a scale of A to E)Source: Watson Wyatt Worldwide MA Survey, November 1998Corporate culture is identified as one of the most important integration issues Communication91%90%Retention of key talent88%Retention of key managersIntegration of corporate cultures78%Activities required for “successful〞 integrationManaging resistance63%Retraining workforce59%57%Alignment of comp ben progRecruitment of new staff40%Downsizing37%Labor relations36%36%Redeployment of workers0102030405060708090100Source: Watson Wyatt Worldwide MA Survey, November 1998Cultural incompatibility is the biggest problem, yet results indicate that it is the area least likely researched during due diligence.86%Hard assets82%Market share, distributionTechnological and business competenciesPercentage of companies citing the type of information gathered during due diligence75%72%Financial aspects of HR functionManagement capabilities and w