How can interim managers support a merger or acquisition?
Mergers and acquisitions require a lot of energy – and resources -- to be spent on legal, human resources, business, logistical and financial considerations, not to mention change management and business transformation. This high-level project management requires in-depth knowledge of both companies if not direct experience in overseeing the smooth integration of two business entities. For most enterprises, project management skills on this scale do not exists in-house, or a senior executive-level employee is often tasked with the difficult role of ‘Integration Manager’ which differs significantly from their usual role within the company. Often, that in-house Integration Manager won’t have enough experience with mergers and acquisitions to oversee proceedings effectively.
Fortunately, interim managers can be an invaluable resource when it comes to overseeing the integration process.
3 reasons why interim managers can help with a merger or acquisition:
1. Direct experience with mergers and acquisitions
By using an interim service provider, business leaders will be able to easily source interim managers with direct experience in mergers and acquisitions. What’s more, interim managers with direct experience in mergers and acquisitions act as more than just high-level project managers or co-ordinators, they are able to keep everyone focussed on the desired goal, creating ongoing momentum and focus on solving those issues that are going to have the greatest impact.
Experienced interim managers are able to quickly identify any roadblocks or information silos, establishing a manageable and realistic timeframe and keeping an adaptable mindset whilst holding the project on course. Interim managers are also comfortable operating with a high level of autonomy and are able to make authoritative decisions and implement solutions quickly and effectively.
2. Advanced multi-tasking and project management skills
The details of merging or acquiring a company are incredibly complex and require exceptional organisational and multi-tasking skills. Interims are able to cope with the complicated task at hand, whilst implementing the most logical solutions and project paths.
Merging with, or acquiring, a company can often involve having to use completely different technology systems or processes. Interims are able to adapt quickly and find the most efficient way of working between and integrating the two, identifying which is more useful or appropriate for the end goal.
Hiring an interim manager doesn’t mean that senior-level and executive-level leaders are not involved with the process, interim managers are able to effectively manage and inform stakeholders of all significant proceedings, this ensures the necessary people are aware of all major developments and involved with important decision making in a timely manner.
3. Ability to lead disparate teams and colleagues
Integrating two organisations requires numerous departments to merge or streamline, which requires in-depth research and planning, notwithstanding copious support and cooperation from both entities. An interim manager is able to lead an integration team either based in one company or spread across both to pinpoint those exceptional resources that will play a leading role after the merger or acquisition.
Their organisational skills mean they can keep this team working towards the desired end goal, maintaining high levels of productivity and motivation. Not only can an interim lead the team, but they will also train them with the necessary skills they will need to keep the merger or acquisition running smoothly after the interim has ended their assignment with the organisation. This transference of skills and learning makes them invaluable resources during a merger or acquisition that has a positive and long-lasting impact on the organisation.
Oakwood Resources can help to accelerate your business requirements by sourcing interim managers who are assessed based on their skills and experience and who can work alongside you to deliver successful outcomes for your business operational needs.