Process Streamlining Due To Mergers And Acquisitions
Overview
The client was facing a challenge trying to migrate over 11000 existing employees into newly formed legal and organizational structure. Having extensive experience guiding organizations through M&As, AscentHR created a solid plan outlining processes pertaining to employee data transfer and compliances management by following best practices and due processes.
Our Client
Our client is a powerhouse in the media, information and technology, and research space.
AscentHR’s engagement helped us embody the best parts of the erstwhile units and at the same also enabled us to incorporate new insights, efficiencies, learnings, competencies and best-in-class practices.
Challenges
The M&A brought numerous challenges with regard to role and resource mapping, the synchronization and ratification of salary and pay grade, the collation, corroboration and restructuring of existing HR policies, processes and documents, and the transfer of employee data from the old disparate, stand-alone systems into a newly-created, unified payroll process.
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A comprehensive approach was required to address employee records management challenges posed by M&A.
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The client was looking to re-value employees’ earnings and perks but without causing much concern about what was happening with their pay.
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Routine HR processes such as onboarding and separation were not uniform across the entities.
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Ensuring a simplified data integration process, and achieving data consistency and security was challenging
Solution
Despite numerous compulsions, constraints, and parameters, AscentHR developed multiple platforms to encompass all actionable factors.
A help desk was established to enhance employee awareness, aiding them in tasks like online PF transfers and declaring previous income. Comprehensive query resolution systems familiarized employees with the new vendor and processes.
A highly searchable employee database allowed sorting by parameters such as tax declarations and provident fund accruals.
Mock runs and tax workshops educated employees about salary credits and the impact of recalculations. Exhaustive checklists facilitated smooth data and personnel transition. Reconciliation reports provided a dashboard view of integration, backed by continuous stakeholder feedback to prevent oversights.
Outcomes
The outcomes from the engagement were:
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Seamless data management: Successfully verified, sanitized, and transferred the existing employee records pertaining to PF, gratuity, tax, accruals, leave, attendance, etc.
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Better compensation & benefits strategy: Salary structures were synthesized, rationalized, and standardized. Helped the client to revise and restructure employees’ earnings and perks while ensuring that employees did not witness drastic cuts and changes in their salary structures.
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Process harmony: Onboarding, separation, and other areas of people practices were harmonized, overhauled, and repurposed to align with the new entity’s organizational goal and strategy.
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Secured data management & compliance: Helped the client prevent any data loss and data breach, and also ensured compliance with all relevant regulations.
Conclusion
AscentHR’s dual approach of sorting, integrating, and transferring data while simultaneously engaging with, and hand-holding anxious employees allowed us to successfully help the customer navigate M&A integration complexities seamlessly.