公司合并和获得的文化整合的重要.pptVIP

14 March 2002, ShanghaiKwan Chee WeiDirector Human Capital GroupWatson Wyatt SingaporeThe Importance of Cultural Integration in Mergers and Acquisitions 第一页，共四十一页。 Agenda M A Statistics A Case Study WW’s Approach to Cultural IntegrationWhat is Culture?Q A 2第二页，共四十一页。 AgendaM A Statistics A Case Study WW’s Approach to Cultural IntegrationWhat is Culture?Q A 3第三页，共四十一页。 ‘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 Express4第四页，共四十一页。 Watson Wyatt M A Survey 1998(190 CEOs, CFO, Top Executives) 75% are clearly disappointing or outright failuresSource: Watson Wyatt Worldwide MA Survey, November 199850% 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)5第五页，共四十一页。 Corporate culture is identified as one of the most important integration issues Source: Watson Wyatt Worldwide MA Survey, November 1998Activities required for “successful” integrationDownsizingRedeployment of workersRecruitment of new staffRetraining workforceAlignment of comp ben progLabor relationsManaging resistanceIntegration of corporate culturesRetention of key managersRetention of key talentCommunication37%40%59%57%36%63%78%88%91%90%010203040506070809010036%6第六页，共四十一页。 Cultural incompatibility is the biggest problem, yet results indicate that it is the area least likely researched during due diligence.46%47%54%56%72%72%82%86%01020304050607080Organizational culture and dynamics of changeWorkforce potentialHR policy mattersMajor shareholdersManagem