Possible Impacts of Change
The merger that World Travel Agency and Holiday Seekers Travel Agency undergo will affect both companies substantially. The firms’ management should recognize the scale of changes and create an account of all details that will be impacted. For employees who will encounter insecurity and new job openings, training will become an essential approach to increasing mental preparedness and reducing negative feelings. For example, workers from both firms will need to adjust to one another’s company culture, and main operating platforms (paper-based and online). All employees should recognize the need for change and lead it in the right direction.
Leading the Change
The implementation of change requires the companies to pick a suitable leader. The three potential choices include hiring an outside person or selecting one of the two current CEOs. The option that seems to yield the most benefits is the first one – a third-party leader with experience in change management will help the business to achieve major goals. This person is likely to evaluate the companies’ strengths and limitations without fearing to lose old connections, forging new ones instead. The chosen leader should use a transformational approach that relies on increasing employees’ motivation and participation. This way, the workers will understand the essential role of teamwork and put effort into succeeding with the new firm.
Preparing the Culture
It is vital to prepare the employees for change because their performance will significantly influence the success of the merger. Thus, the companies should provide them with an explanation of the upcoming events. Older employees may experience readjustment issues which can be addressed with training and gradual change. Furthermore, all workers should the values of the new firm and understand their effectiveness. A smooth transition may be supported by gradually introducing new ideas and features. It is vital to monitor all phases of the change to ensure that the risks are minimized. In the end, the company should implement a new hiring policy and a new set of conduct to document the developed values and aims.
A correctly chosen change model can support the companies in their activities and help them achieve all established goals. Such approaches as the ADKAR model or Kubler-Ross five-stage model can be considered. However, one of the most popular frameworks is Kotter’s 8-step approach. It outlines the steps that are helpful to employees and leaders as it considers the changes from both sides. This model highly values strategy development and employee-supervisor interaction. It should be noted that the approach does not include a separate step for monitoring the company’s success after the change is implemented. Nonetheless, it implies that the firm’s management will take appropriate steps to institutionalize new practices.
Phases of the Model
Kotter’s 8-step model proposes a set of actions that are necessary to implement any change. The first phase deals with the employees’ understanding of the proposed change – they should be ready to participate. During the second step, the future leaders will form a team that will control the whole process. On the next stage, the companies will formulate the initiatives and vision to show the potential outcomes and point out future benefits. The completion of the fourth step will result in the workforce that is prepared to contribute. Next, the leaders should eliminate all obstacles to change through guidance and education. The management should ensure that the firm has milestones which can generate quick successes. The pace of implementation should be accelerated and monitored closely. Finally, the change should be turned into regular practice.
In order to ensure that the change is sustained, the newly merged business should not decrease its efforts. Instead, the management should ensure that workers can provide feedback and discuss possible barriers and problems that they encounter. This will allow the company to correct mistakes and prepare for the future. Furthermore, the leaders should be open with the staff about the intentions of the companies. The personnel should realize that the change positively impacts their performance and outcomes. Finally, the firm should remember to monitor results and compare them to the established goals.
World Travel Agency and Holiday Seekers Travel should consider the outcomes that the merger will have on their clients, employees, and management. They should focus on the workers’ recognition of the change’s importance. The companies can utilize transformational leadership and hire an outside person to lead the change – this individual is likely to make impartial and experience-driven decisions. To prepare the culture, the firms should make sure that most staff members understand the benefits of change. The merger can be completed using Kotter’s 8-step model as it values leadership and communication. To ensure sustainability, the new company should be open, communicative, and attentive.