MERGERS ACQUISITIONS EMPLOYEE SURVEY AND RESULTS Merger Integration
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MERGERS & ACQUISITIONS EMPLOYEE SURVEY AND RESULTS Merger. Integration. com
HIGH LEVEL OF RESPONSE 1216 Responses (76% Response Rate) 248 Written Comments – (20% Response Rate) © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
SUMMARY OF SURVEY Employees were positive about the merger and their job satisfaction High level communications fine but need more detail and direction Benefits and Compensation showed heightened interest and concern © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
READING THE GRAPHS Twenty one statements were posed and each person was asked to rate each of the statements from 5 to 1 (see below). 5 = To a great degree 4 = To a considerable degree 3 = To a moderate degree 2 = To a small degree 1 = Not at all © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
THE 21 QUESTIONS 1. I understand the reason for the merger. 2. I think the merger will be good for the business. 3. I have a good understanding of the company's goals and direction. 4. I know how the company is performing. 5. I know the performance standards and goals for my job. 6. I understand what is necessary to achieve excellence. 7. My supervisor is aware of my work and gives me appropriate feedback. 8. I have been kept up-to-date about what is going on in the company and received useful information during the transition. 9. Senior management is making good decisions. 10. Acquirer individuals and Target individuals are working together as a team. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
THE 21 QUESTIONS (CONT. ) 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. Management listens to employee issues and concerns. My work assignments are interesting. Clear goals have been established for my team. I understand how my individual goals help meet company goals. My ideas are valued. I understand my pay and benefits. I think my pay and benefits are fair. My supervisor confronts issues when appropriate. I understand my developmental and promotional opportunities. I feel I am part of a team and understand my role. I enjoy my job and plan to continue working here. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
OVERALL SURVEY RESULTS © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
QUESTIONS IN RANK ORDER 1 1 I understand what is necessary to achieve excellence. 3 2 I understand the reason for the merger. 2 3 I know the performance standards and goals for my job. 4 4 I understand how my individual goals help meet company goals. 7 5 I think the merger will be good for the business. 6 6 I enjoy my job and plan to continue working here. 5 7 My supervisor is aware of my work and gives me appropriate feedback. 8 8 My supervisor confronts issues when appropriate. 9 9 My work assignments are interesting. 14 10 I have a good understanding of the company's goals and direction. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
QUESTIONS IN RANK ORDER 12 11 Clear goals have been established for my team. 11 12 I feel I am a part of a team and understand my role. 10 13 I understand my pay and benefits. 16 14 Acquirer individuals and Target individuals are working together as a team. 15 15 Senior Management is making good decisions. 19 16 I have been kept up-to-date about what is going on in the company 10 17 My ideas are valued. 17 18 Management listens to employee issues and concerns. 20 19 I understand my developmental and promotional opportunities. 18 20 I think my pay and benefits are fair. 21 21 I know how the company is performing. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
AVERAGES Company average June 3. 78 Company average Dec 3. 72 © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
SURVEY RESULTS-HIGH/LOW COMPARISON Another way to examine the survey results is to look at the ‘High’ responses (5&4’s) and compare those against the ‘Low’ responses (1&2’s) excluding the middle rating altogether. Here’s what that looks like. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
SURVEY RESULTS: HIGHS/LOWS COMPARISON © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
SURVEY RESULTS: HIGHS/LOWS COMPARISON © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
HIGHS/LOWS KEY QUESTIONS 4. I know how the company is performing. 11. Management listens to employee issues and concerns. 17. I think my pay and benefits are fair. 19. I understand my developmental and promotional opportunities. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
SURVEY RESULTS - WRITTEN RESPONSE CATEGORIZATION © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
OPEN COMMENTS © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
KEY THEMES © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
POSITIVE FEEDBACK TEAMWORK Amazing teamwork and super effort on everyone’s part to complete merger by deadline. Outstanding job done by all – we have a lot to be proud of. Senior management is right on track with the direction and focus of the company. We will be the best in the roofing business. The product launch was a terrific example of teamwork between the two organizations. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
AREA OF CONCERN: COMMUNICATIONS RELATED TO COMPANY PERFORMANCE Communication is minimal and more layered The video’s are OK, but more conference calls with Sr. Management to large groups would be better now. I believe communication can still be improved We need more timely information about our company’s profitability. I don’t know who is in charge of what now. Cross-functional communication between other departments and teams is non-existent creating duplication of efforts. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
AREA OF CONCERN: COMP & BENEFITS Changes to compensation are a big concern. With Target, we had a nice bonus plan, stock loans and an employee stock purchase plan. To date, there has been NO information about how this compensation is going to be replaced. The lack of an attractive “profit sharing plan” is a significant negative to former target employees. Our Healthcare plan is in need of improvement, cost and coverage. Some form of bonus other than SOP would be a great benefit. Not happy with medical benefits change of not keeping spouse on insurance. We should have a better bonus program. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
AREA OF CONCERN: DEVELOPMENTAL OPPORTUNITIES The organization needs to reach out to its “high potentials” and provide an update with tangible opportunities for advancement before they become disenchanted and leave to pursue career goals elsewhere. An employee’s strengths should be reviewed and utilized. Levels of appreciation and recognition have not improved. © PRITCHETT LP 800 -992 -5922 Merger. Integration. com
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