【正文】 as well as classroom training. We identified the anizationwide gaps and a development plan to bridge them. We then monitored the implementation of the plan. 37 Teams created within each Business Unit to address existing barriers that prevent the desired culture from being demonstrated. Issues may involve: ? rules and policies ? goals and measures ? physical environment ? anizational structure HR culture teams can address these issues: ? staffing and selection ? training and development ? ceremonies and events ? rewards and recognition Culture Development Teams CULTURE DEVELOPMENT TEAMS instill new culture,values and behaviors by solving critical business problems, caused by old work culture and thinking, that prevent us from most effectively supporting the strategy. 38 Organization Measurement Surveys “ We keep a continual pulse check on whether we are staying true to our culture/ vision.” MEASUREMENT Regularly tracks the current state and progress to enable readjustment of goals and methods Methods might include: ? Culture Audits ? 360 Degree Feedback ? Employee Opinion Surveys ? Customers Surveys 39 Lessons Learned ? Important to get the CEO’s personal involvement in culture development or any other major HR initiatives ? Understand the CEO’s style and personality and adapting the approach accordingly. ? Intimate involvement of client (HR team) at all stages of project . – getting their sign off on any munication documents – interview questions – presentation slides – liaison for all meetings ? Be open to changes in project scope and deliverables 40 靜夜四無(wú)鄰，荒居舊業(yè)貧。 issues. * Gain information from pilot tests. * Provide the big picture. Phase 3 RollOut This is what it means to you. Program Specific * Provide specific information on the changes being made and how they will affect people. * Provide training in new roles skills and methods. Phase 4 FollowUp This is how we will make it work. Team Specific * Listen to and act on manager39。s involvement Phase 2 Program Status This is where we are going. Companywide * Demonstrate senior management mitment. * Identify managers39。W W W . W A T S O N W Y A T T . C O M 14 March 2023, Shanghai Kwan Chee Wei Director Human Capital Group Watson Wyatt Singapore The Importance of Cultural Integration in Mergers and Acquisitions Agenda M A Statistics A Case Study WW’s Approach to Cultural Integration What is Culture? Q A 2 Agenda M A Statistics A Case Study WW’s Approach to Cultural Integration What is Culture? Q A 3 ‘Cultural People’ Issues Often Present the Biggest Challenges “The hard stuff is easy it’s the soft stuff that’s so hard to change.” Frederick Smith CEO, Federal Express 4 Watson Wyatt M A Survey 1998 (190 CEOs, CFO, Top Executives) ? 75% are clearly disappointing or outright failures Source: Watson Wyatt Worldwide MA Survey, November 1998 ? 50% suffer an overall dropoff in productivity in first 48 months ? 47% of acquired pany executives leave within the first year。 75% within the first three years ? “ People problems” are cited as the top integration failure factor by a sample of 45 CFOs from Fortune 500 panies who have recently merged/acquired ? Only 23% of all acquisitions earn their cost of capital ? On average, management grade the financial performance of their alliances as a “C minus” (on a scale of