This post is sponsored by
by Gaurav Ranjit, Principal Consultant, Simeio Solutions
In the last decade, there has been an uptick in the volume of global Mergers & Acquisitions (M&A), and some of the factors attributed to this rise are as follows:
- the increasing value of the dollar
- improving economies of scale
- rapidly changing industries and digitalization
- the need for expansion and diversification of the business portfolio
- complement competency and resource
- converging intra and inter-industry leading to vertical and horizontal M&A integrations
Most Mergers & Acquisitions have difficulties when meeting business goals, due to culture differences. Hence, a change management strategy must be implemented by upper management, business executives and human resources (HR) to integrate assets, business processes, products and services, operations, systems and technology for the merged businesses.
How can an organization enable and motivate the workforce, while also retaining this important asset?
There are many successful frameworks, best practices and methods to help with M&A efforts, and a common enabler is the Post-Merger Integration (PMI) Checklist that covers some of the important identity access management (IAM) processes:
- hiring and transfer processes
- on-boarding of workforce (employees and contingent workers) and enrolling in benefits
- accessing necessary technologies on day one (1)
- off-boarding of redundancies (workforce access, job functions and roles)
The checklist improves the value of the integration, but a common M&A challenge lies in managing, retaining and engaging an organization’s workforce (employee and contingent workers).
Failure to implement an effective strategy on the part of the business and HR can:
- have an adverse effect on workforce retention due to uncertainty
- negatively impact on business performance and operations, because of the inability to manage day-one access to critical systems, services, and products
- allow competitive leverage to competitors
As best practice dictates, the strategy to improve the odds of success is to reduce the variability within the processes that require workforce engagement.
- Access to workforce day one (1) to critical applications and assets
- Connect to the workforce (employee) employment benefits
- Request for access, permissions, and entitlements that are needed during and post-merger for the workforce
- Provide availability of applications, information, entitlements and permissions
Administration and Operations:
- View of “who has access to what” in the merger or acquired entities
- Insight and intelligence into workforce on-boarding, off-boarding and provisioning activities, visually
- Manage delegated administration
Simeio’s identity-as-a-service (IDaaS) solution is built with all end-users in mind—employees, business partners, customers, citizens, security executives and administrators. By providing an intuitive and user-friendly interface, Simeio’s Identity Orchestrator (IO) can boost the workforce and customer productivity post-mergers and acquisition by 40 per cent.
Simeio’s IDaaS sets itself apart from the competitors with the following attributes:
- a Virtual Directory Service, which allows enterprises to rapidly aggregate disparate identity stores — removing the dependency on expensive and timely directory consolidation projects and mitigating against risk of merging disparate networks too quickly
- the ability to plug Simeio’s IDaaS into existing IAM tools and technology via the Simeio Identity Bridge
- a choice between existing Simeio’s IDaaS technology stack or preference of the merging entity complete cloud environment that is hosted, secured and managed by Simeio
- comprehensive program management for your IAM solutions so your organization can focus on Information Technology (IT) consolidation and merger efforts.
- enablement for Human Resources (HR) and change management the leverage to focus efforts on on-boarding, redundancy elimination, process consolidation efforts over time, and track effort spent on managing workforce engagement
Overall, the critical focus for entities in a post-M&A phase is to eliminate operational variance, improve information and resources to end-users and manage workforce engagement proactively.
If you are interested in learning more about Simeio’s IDaaS solutions for Workforce Engagement post-M&A activities, please contact us to speak with an Advisor team.