The success of the organization in its operations mainly depends on the quality of employees as well as the leadership that exists. Firms usually succeed through the use of other people to achieve their desired goals. Thus, enlightened companies attribute their success to the employees and put appropriate measures in place to develop their skills, retain them, and promote employee teamwork.
In many cases, organizations face viability challenges during a merger and acquisition (M&A). Some studies indicate that M & A often fail to win their expected goals due to many factors. For instance, leaders usually overlook the significance of organizational culture when two companies merge, and this has a bearing on their success.
Leaders also fail to consider the priorities of human capital in the form of fulfilling the needs and interests of the employees. The workers form the solid base of any organization since its success depends on them. If the company is committed to winning the set goals, it has to engage the employees in its operations adequately.
Why Mergers and Acquisitions?
Many large corporations attribute their success to M & A since there are many advantages they can gain from embarking on this business strategy. For instance, an M&A plan helps the company to increase its profitability. When two companies merge, talent is attracted to the new entity that is formed.
However, winners in a merger and acquisition pay attention to the significance of organizational culture. The concept of corporate culture is fundamental to the operations of the company since it affects its activities in many ways. Culture shapes the behavior of the employees within the organization, and it also determines how they perceive their roles.
The other important aspect of culture is that it does not happen naturally. An effort needs to be put in place to nurture the desired lifestyle in the organization that will be shared by every employee. Thus, leaders need to align the culture of the company in their operations during the integration process when two companies merge.
Companies need to create new value by integrating new talent and culture if they are concerned about winning in their operations. There are different measures like employee development that you need to take into account as a leader to develop employee skills. The employees will remain in the company for an extended period. The other issue is that it is costly for the company to lose its talent to other firms due to competition.
Development and Retention of Talent are Recipes for Success
A winning company puts measures in place to develop the employees as a way of improving their skills and expertise. The employees are likely to stay longer in the organization if their skills are continuously enhanced.
It is therefore imperative for leaders to support the growth and skills development of their employees in the firm. This is an effective strategy for motivating employees so that they can use their creativity to contribute to the overall performance of the firm.
In order to achieve this feat of developing talent, the company needs to build a coaching culture. The leaders play a pivotal role in supporting the employees so that they can improve their performance. The leaders also have a role in identifying the skills gap among the employees that need further development.
The Significance of Building a Coaching Culture in the Company
Organizations continue to witness constant growth that also needs to match with the continuous development of the employees’ skills. Against this background of the continual growth of the companies, leadership needs to boost team morale so that the workers can meet the new demands brought about by the change. To achieve this change, it is essential to build a coaching culture.
It is imperative for leaders to ensure that they develop an employee development strategy that is capable of aligning well with the company’s core values and goals. The leaders have the task of articulating the vision of the company to the employees. Through the strategic articulation of the organization’s vision, the leaders will be capable of aligning throughout the entire firm.
When the employees share the vision of the company, it becomes part of the organizational culture. The leadership impacts the culture of the company by sharing it with their followers. The leaders also play a pivotal role in reinforcing culture within the organization. Shared learning is crucial in the operations of any company since it impacts the behavior and ultimately the performance of each employee.
Creating a coaching culture in the organization is also essential since it helps the leaders to be exemplary. The followers can emulate their leaders if they lead by example since this is inspirational. Loyal employees need to follow the steps of their leaders in their operations, and this is good for the company.
How to Keep Good Talent in the Organization
Talent retention is essential for the success of the organization since this entails that the employees with the right skills will stay longer in the company. The leaders in the organization need to identify people with the traits of good talent and develop them further for the betterment of the company.
The leaders should also play an active role in identifying the skills gap among the employees. It is undoubtedly true that organizations operate in environments that are continually changing. To keep pace with such changes, the employees need to possess the right skills so that they can be in a position to solve the challenges they are likely to encounter in their operations.
To keep talent in the company, the following measures are essential. When the employees know that they benefit concerning skills development, there is a high chance that they will remain in the company.
Learning in the organization is crucial since it helps employees to develop different skills and talents. Organizational learning comes in different ways, but leaders should champion it since it is good for the whole company.
Leaders need to create an enabling environment in the organization whereby the employees can learn from each other. Interaction among the workers helps them to exchange ideas that in turn play a role in generating knowledge. Knowledge in the company is vital since it contributes to creativity and innovation. These two components give the firm a competitive edge over other players within the same industry.
Leaders ought to promote free communication channels in the organization as a way of appealing to the interests of the employees. Staff turnover is high in different companies just because the employees cannot express their views. Some of the benefits for the employees can be addressed by merely opening communication channels.
The employees’ concerns need to be heard, and feedback from their leaders is essential. No company can survive without communication, and this is the reason why employees’ voices need attention. An open discussion also helps to create a mutual relationship between the employees and their leaders.
Employees Need Recognition as Valuable Assets to the Organization
The workers are the mainstay of the company, and there is no way it can survive or exist without them. The employees are responsible for driving production, and they also determine its overall performance in the market. As such, there is every need for leaders to treat the workers as valuable assets in the company.
As valuable assets to the firm, the employees should contribute towards decision-making. There are many advantages of involving employees in the decision-making process. A sense of belonging to the organization is created among the workers if they are part of the decision-making process. This also helps to minimize conflicts in the company as the employees will become part of the decisions that affect their day-to-day operations.
The leaders should also give employees the autonomy to solve some problems they may encounter in their operations. The workers can feel that they are essential to the company if they make decisions instead of being expected to take orders from their superiors. If a worker feels he is not necessary for the company, he may leave it in search of other organizations with better working conditions.
Collaboration in the company is essential since it enhances the exchange of ideas among employees. When the workers collaborate within the organization, they pull their efforts in the same direction. The workers will be in a position to share their views and put optimum attempts to achieve the desired goals set.
The element of collaboration also helps the workers to iron out conflicts that may exist among them through the sharing of ideas that are productive. The workers will also be in a position to learn from each other when they collaborate in different situations within their workplaces. A working environment where collaboration has space is conducive, and the employees can stay longer.
Teamwork Fosters Cohesion
The success of the organization mainly depends on the existence of cooperation among the employees. The main advantage of the partnership is that it encourages cohesion where the members share the same vision of the company and work towards attaining it. A mutual relationship among the employees is likely to be created when they pull their efforts in the same direction.
Mostly, the main idea behind teamwork is the synergy of individual efforts. It is easier to achieve specific goals when your efforts are combined compared to your own initiative. The workers are also in a better position to create a sense of collective belonging to the company when they get recognition for excellent performance.
The collective will of the employees to achieve the set organizational goals can determine its success. If the workers lack unity of purpose, it may not be possible for the organization to attain its objectives. Thus, the winning organization is dependent on the will of its members to contribute towards the attainment of the goals set positively.
Employee motivation is a crucial ingredient that contributes to the success of the company. Since the success of the organization strongly depends on the efforts of the workers, these people need motivation for them to be productive. Apart from the financial gain as the principal form of motivation among workers, there are also other motivators available.
Employees are human beings who also have their own goals and aspirations, and they can achieve them via their workplaces. For the workers to realize goals like recognition in society, they need to be given the autonomy to make decisions in their operations. This helps them to feel important such that they can get the status they desire from other members.
Creativity is another necessary component of motivation within the organization. The members will always feel special if they can identify with their creations within the workplace. It is essential to give credit where it is due since this helps to promote the exchange of views and ideas that can contribute toward the generation of knowledge.
Source: Media Partners
Be A Winning Organization
Above all, a winning organization depends on the quality of the employees it has. This goes hand in hand with the element of leadership that exists in the organization. Leaders have a role in developing the workers to improve their skills so that they can stay longer in the company.
The leaders also have a role in treating the workers as valuable assets since they are the mainstay of the firm. Motivated workers are productive, and there are high chances of staying longer in the company compared to demotivated people. In the end, both the workers and the organization benefit.
In other words, when you want to build a winning organization, you must make an effort to create an excellent balance between the needs of the organization and the employees. These two components are complementary since both sides are likely to achieve positive results. Workers will also stay longer in a company that satisfies their needs and gives them the opportunity to pursue their own goals.