When the financiers and dealmakers move on to their next big project after finalising a corporate takeover, the complex process of integrating the two companies into one entity is really just beginning.
Much of the work in ensuring a smooth transition inevitably falls to the human resources team of the 'receiving' company. They become the nerve centre to co-ordinate strategy, communications, training and trouble-shooting and - having overseen two successful takeovers in the past couple of years - Ellen So, head of human resources for AXA China Region Insurance, has become an authority on the subject.
Ms So learned the ropes following the buyout of MLC Hong Kong from National Australia Bank in 2006. After this takeover, AXA completed the HK$2.4 billion acquisition of Winterthur Life (Hong Kong) in December that year and Ms So, along with her colleagues, swung into action.
The crucial first step was to determine a detailed structure for the new organisation. For this, a 40-person steering committee was formed, with 10 work-stream leaders and representatives from every key department in the two companies.
From the initial meeting of the four-month analysis and design phase, they had one primary objective - to keep all critical staff while maintaining the same levels of service and combined revenue.
Beyond that, though, the committee also had to create an organisational structure equipped for expansion, strengthen areas, such as sales and operations, and make sure employee morale was sustained throughout.