At West Monroe Partners, we believe that delivering the best results for our clients depends on investing in and nurturing the talent that makes it all possible. The first tenant of our values is “people first” – and, since day one, our leadership has focused on doing right by its people.
To be most impactful, any policy or process change must be rooted in a strong focus on people and culture. This truth is most apparent during times of change, and there is no instance of greater change than during a merger or acquisition, when combining two organizations, two ways of operating, and two cultures.
Acquisitions are an important part of our business and growth strategy. West Monroe has made four significant acquisitions in the past several years—including one last year in Los Angeles, when we welcomed CAST Management Consultants to our team.
The acquisition nearly doubled the size of our Los Angeles office, bringing tremendous change both for our new team members and our existing employees. To make this acquisition successful, we knew we had to consider our culture and our people throughout the deal process—from diligence through integration.
INCLUSION IS THE KEY TO REALIZING YOUR ACQUISITION’S VALUE
As the Los Angeles office leader, making the team from CAST feel included—as rapidly as possible—was one of my top priorities. When employees immediately feel like part of their new organization, they are more likely to stay and thrive, and when employees stay, the client relationships they brought with them are also more likely to remain with the firm. That feeds a growing, profitable business.
Ignoring inclusion can lead to the development of an “us versus them” mentality that prevents true team integration and erodes trust over time. It can also lead to poor adoption of operational practices, particularly when acquiring a smaller firm that may not be accustomed to processes of a larger company. These issues can lead to loss of productivity, poor morale, lack of engagement and eventually, attrition and slower growth.
BEFORE YOU SIGN, CONDUCT A CULTURAL DILIGENCE
Our culture is our single biggest differentiator in the market, both as an employer and as a service provider. When we consider an acquisition, cultural fit is one of our most important areas of due diligence.
What does a cultural diligence entail? We look at the people, roles, and types of jobs at the target organization to see how well they match with our roles. We look at travel and work-life balance expectations. We look at the types of work people do to ensure they will continue working on similar strategic initiatives.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Best Places to Work 2017: West Monroe Invests in the Next Generation of Leaders for the Los Angeles Community
- Chief Exec’s Departure, Death Revealed After Deal
- Diversity & Inclusion Summit 2018: Innovation Without Inclusion is Risky at Best
- Who's Building L.A. (March 26): Working Together for a More Inclusive Industry
- Women's Council & Awards 2018: Gender Parity: Making the Business Case for Diversity in the Workplace
- Diversity & Inclusion Summit 2018: Connecting People and Uniting the World Through Diversity and Inclusion
- Best Places to Work 2018: The Best Large Companies to Work for in Los Angeles
- Best Places to Work 2018: The Best Small Companies to Work for in Los Angeles