When you decided to pursue a mergers and acquisitions growth strategy, you probably sought out companies that had the assets you needed. You may have wanted to reduce your competition, increase your market or gain intellectual property rights. However, did you consider the people? These are ways you can better utilize the talent you acquire during the business acquisition process.

Begin Integration Immediately

Your onboarding process should take place as soon as possible. Each of the team members from your existing and new companies has special skills, knowledge and experience in their specific areas of expertise. They understand their company’s technology and processes. However, they may feel insecure about their jobs and companies when an acquisition takes place.

Fortunately, you can alleviate some of their stress and gain incredible benefits by integrating both staffs quickly. The acquisition staff can teach you how they help customers, exploit their technology and market their products. When you combine their expertise with that of your current staff, their collaborations can create unique innovations that can accelerate your corporate growth.

Maximize Your Purchase

Just like any major purchase, you should search for a company that has many assets you can use. Then, find ways to use every asset you gain from the merger. You should have made a list of why the company was attractive and what you could gain. Integrate these areas as soon as you can after the merger. Then, look at the remaining assets you may not have considered during the purchasing process. Find ways to use them so they aren’t wasted.

Set SMART Goals

Employees from both companies have to work with new people and learn new processes and technology. Therefore, help them set goals. The goals should be challenging, but they need to be specific, measurable, attainable, relevant and time-bound. These goals should apply to different parts of their job, from learning to collaboration. Outline budgets and any rewards they can expect if your employees achieve their goals before their deadlines.

Focus on Motivation

Acquisition transitions are not easy. You and your staff will feel challenged for some time, but you can make the process easier. First, avoid unnecessary changes, such as moving employees around without a strong reason. They will deal with a lot of change already. Then, find ways to keep them happy and motivated. You can run contests, create team activities and set goals. Make sure you have a way to recognize their progress individually and as a team.

Mergers and acquisitions can be incredibly beneficial, but they don’t come without challenges. The people in both organizations can serve as key assets to smooth and solve these problems.