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41
PROJECT REPORT
COLLEGE
JAI HIND COLLEGE
A ROAD, CHRUCHGATE, MUMBAI 400020, MAHARSHTRA
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M.COM SEMESTER I ROLL NO. 41
CERTIFICATE
This is to certify that MR. Harsh Tanwani of M.Com (Advanced Accountancy)
Semester IV (Academic year 2016 17) has successfully completed the
project titles The Employee Perspective: Merger and Acquisition under the
guidance of PROF. RUCHI CHATURVEDI
COLLEGE SEAL
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M.COM SEMESTER I ROLL NO. 41
DECLARATION
I, Mr. Harsh Tanwani, hereby declare that I have successfully completed the
project titles The Employee Perspective: Merger and Acquisition. is an
original work and is being submitted in partial fulfillment for the award of
Masters Degree in Commerce (M.Com) from the University of Mumbai.
HARSH TANWANI
(STUDENT)
DATE:15th FEBURARY 2017
PLACE: MUMBAI
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M.COM SEMESTER I ROLL NO. 41
ACKNOWLEGDEMENT
Further, I would like to thank the faculty of Jai hind College, without their
cooperation I would not have ventured into such a study.
I am also thankful to all those seen and unseen hands and heads, which have
been of help in the completion of this project work.
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M.COM SEMESTER I ROLL NO. 41
Table of Contents
CONCLUSION
LIMITATIONS
BIBLIOGRAPHY
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M.COM SEMESTER I ROLL NO. 41
1
RESULTS AND DISCUSSIONS
Q.) I believe the recent changes will make the company a better place for my professional
growth.
Strongly Agree
Agree
Neither Agree or Disagree
Disagree
Strongly Disagree
18
16
14 17
12 14
10
8
6 9
4 7
2
0 3
Discussion:
From the data collected we can see that majority of the employees neither agree or disagree
if the changes after merger have positive impact on their professional growth followed by
options of agree and disagree. This shows that merger has somewhat neutral effect on the
professional growth of employees.
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M.COM SEMESTER I ROLL NO. 41
20
18
16 19
14
12 14
10
8
6 9 8
4
2
0
Discussion
From the data collected we can see that majority of the employees think that poor
communication of instructions and information is the primary cause of failed mergers
followed by conflicting cultures, conflicting goals and conflict between management teams
respectively. This shows that acquiring company should take proper steps to improve
communication within the organization.
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M.COM SEMESTER I ROLL NO. 41
Q.) How Successful do you feel the integration was or has been to date?
Successful
Unsuccessful
Dont Know
25
20 22
15 17
10 11
0
Successful Unsuccessful Don't know
Discussion
From the data collected we can see that majority of the employees think that the
integration process is an unsuccessful one. This shows that company should implement
integration process more successfully.
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M.COM SEMESTER I ROLL NO. 41
Q.) I feel/harbor resentment towards management after the fact that there were layoffs
after the management change/merger.
Strongly Agree
Agree
Neither Agree or Disagree
Disagree
Strongly Disagree
20
18
16 18
14
12 15
10
8 9
6
4 6
2
0 2
Discussion
From the data collected we can see that majority of the employees dont like the layoffs
done by the acquiring firm. This is something that cannot be avoided so the acquiring firm
should conduct interviews and find ways to motivate the existing employees.
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M.COM SEMESTER I ROLL NO. 41
Q.) Do you (acquired employees) feel like second-class citizens? In general, do you feel both
sets of employees are being treated fairly?
Strongly Agree
Agree
Neither Agree or Disagree
Disagree
Strongly Disagree
25
20
21
15
16
10
10
5
0 2 1
Discussion
From the data collected we can see that majority of the employees think that there is no
change in the way they were treated before the merger happened followed by disagree. This
is a good sign on the part of acquiring firm as the acquired employees should not be given
less priority than any other employees.
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M.COM SEMESTER I ROLL NO. 41
Q.) Has there been any change in work culture or work environment after the merger?
To a very great extent
To a great extent
To some extent
To a very little extent
To no extent at all
25
20 22
15
10
9 8
5
5 6
0
Discussions
From the data collected we can see that majority of the employees think that the work
environment or culture has changed after the merger to some extent. This is normal for any
acquired firm as the management changes. But it should be noted that it is normal as long
as it is to some extent and not to a very great extent as it can cause resistance on the part of
employees.
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M.COM SEMESTER I ROLL NO. 41
Q.) Please rate how you feel about communication regarding recent company changes?
Very Informed
Somewhat Informed
Not Informed at all
30
25 28
20
15 16
10
5 6
0
Very Informed Somewhat Informed Not Informed at all
Discussion
From the data collected we can see that majority of the employees feel that they are not
fully informed about the changes that takes place after the merger. This shows poor
communication as discussed above. Acquiring firm should take steps to effectively
communicate with the employees.
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M.COM SEMESTER I ROLL NO. 41
Q.) What kind of change has come in your work life balance?
Positive
Negative
Neutral
35
30 32
25
20
15
14
10
5
4
0
Positive Negative Neutral
Discussion
From the data collected we can see that majority of the employees are neutral about the
changes that have come in their work life balance followed by negative and positive
experience. Acquiring company should take steps to create better work life balance among
employees.
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M.COM SEMESTER I ROLL NO. 41
30
25
20 24
15
10
5 9
7
5 5
0
Discussion
From the data collected we can see that majority of the employees feel that their job is
secure to some extent. This shows that employees feels lack of job security as they feel that
acquiring firm may not need them as they have their own departments to take care of
things.
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M.COM SEMESTER I ROLL NO. 41
25
22
20
15 16
10 11
0
0 1
All of the time Most of the time Some of the time Hardly ever Never
Discussion
From the data collected we can see that majority of the employees get the information they
need to perform their job well. It should be noted that company changes should also be
communicated effectively like this.
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M.COM SEMESTER I ROLL NO. 41
Q.) Management gives staff a clear vision of the direction in which we are going.
Yes
No
Cant Say
35
33
30
25
20
15
10 11
5 6
0
Yes No Can't Say
Discussion
From the data collected we can see that majority of the employees feel like management
does not give clear direction regarding the goals that company is pursuing. Acquiring
company should take proper steps to communicate missions, visions and goals with the
employees of the acquired firm.
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M.COM SEMESTER I ROLL NO. 41
Q.) After Merger, the company has implemented policies that help adaptability to the
change.
To a very great Extent
To a great Extent
To some Extent
To a very little extent
To no extent at all
20
18 19
16
14
12
10 11
8 9 9
6
4
2
0 2
Discussion
From the data collected we can see that majority of the employees feel like the acquiring
firm takes steps to implement policies that help them adapt to the change.
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M.COM SEMESTER I ROLL NO. 41
2
CONCLUSION
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M.COM SEMESTER I ROLL NO. 41
3
SCOPE FOR FURTHER RESEARCH
The related fields of study that is recommended for further studies are as follows:
The main outcome of the study should be to stimulate further research in the field
of mergers and acquisitions in relation to their impact on employees within an
organization. This study should enable managers, change agents, Human Resource
personnel, and HR planning and strategy departments to deploy more effective
change interventions and training programmes in the course of future mergers and
acquisitions of companies.
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M.COM SEMESTER I ROLL NO. 41
4
RELEVANCE OF THE STUDY
This study is relevant for several reasons. There has been little research performed
on the effect of mergers and acquisitions on the culture of an organizational, and
more specifically, on employee morale. By this study, a number of groups can
benefit. The company will benefit, as the study involves participation on the part of
employees. This experience in itself will attempt to contribute to a more positive
experience of various employees at the company. This study will present more
opportunities for employee participation and intervention that will attempt to
improve employee morale. This study will contribute to the field of Human
Resource Development in areas of research and practice. The study will also
present various suggestions for HRD professionals when faced with the
consequences that merger and acquisition brings to an organization.
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M.COM SEMESTER I ROLL NO. 41
5
LIMITATIONS
The main source of internal research error associated with this study were response
effects caused by fear of possible suspicion that responding to questions may
hinder their success within the department or company as a whole. Respondents
also feared that these may jeopardize their position, employees felt they could not
disclose some information.
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M.COM SEMESTER I ROLL NO. 41
6
BIBLIOGRAPHY
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