Maintaining an Ownership Culture Through Mergers and Acquisitions

Transcription

1 Maintaining an Ownership Culture Through Mergers and Acquisitions SEPTEMBER 15, 2017 Kirsten Lesak-Greenberg, Account Supervisor Natalie Smith, Senior Vice President

2 Ownership culture With great power comes great responsibility. - Voltaire or Spiderman Expectations of a Padilla Owner: Be resourceful! Grow our business. Make us better every day.

3 Who we are

4 We are 100% employee-owned So we re vested in our clients success Minneapolis Chicago New York Washington D.C. Richmond San Francisco Los Angeles

5 Our history

6 Our biggest acquisition From: 115 employee-owners to 195 employee-owners 2 cities to 6 cities (duplicate offices in 2 locations) 65 clients supported to 116 clients supported

7 Acquisition challenges Merger vs. acquisition Unique organizational cultures Geographic separation and proximity ESOP, what?

8 Practice what we preach

9 Answering the Big Three What s happening? Why is it happening? What does it mean for me?

10 What s an ESOP? and soon, we ll all be employee-owners For individuals For our finances For our culture Details on timelines, vesting schedules

11 Dive deeper Introductions to other teams and offices Better understanding of each others capabilities Senior leadership visibility Constantly reinforce why this is good for everyone

12 What did this look like for Padilla?

13 One company, one celebration

14 Internal brand rollout

15 Vision, Purpose, Values Excellence Every day, we try to make our best even better. Integrity & Truthfulness We build relationships based upon honesty, because there is power in truth. Innovation & Creativity We discover different solutions, for there are many paths to greatness. Service & Servant Leadership We surprise clients with attention and lead by serving. Generosity We generously share time, attention and rewards. Inclusion We celebrate diversity and learn from our differences.

16 Blending office and company culture

17 Common culture

18 ESOP Owner s Manual Provided to current ESOP members New members receive Owner s Manual as they re added Company background ESOP FAQS Expectations of Padilla owners Vesting schedule Annual statements

19 Purpose Committee ESOP education and more Representative staff involvement Access to Executive Leadership Team Annual shareholders meeting (spring) and ESOP celebration (fall) Living our Purpose awards Culture improvements, grassroots-style Link to other committees, functions and projects

20 Internal communications Monthly all-staff meetings Face-to-face time with leadership Launched Intranet site Staff surveys

21 Intranet site Pulse home page ALL company news and announcements live here Weekly update from CEO Weekly employee social media photo featured Office news and events Client and team best practices Staff hires and departures San Francisco office home page

22 Does it matter to our customers?

23 We are employee owned So we re vested in your success Minneapolis Chicago New York Washington D.C. Richmond San Francisco Los Angeles

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25 Strive for continual improvement

26 Continued growth Three new companies acquired in the last 3 years Smaller but equally important Repeat process but refine as we go Include ESOP ownership in onboarding

27 What we know People engage with and activate stories they help create. 1. Old Yarns Forget the past 2. Keepsakes Manage the present 3. Picture the Future Create the future

28 Putting it into practice

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30 Top tips for mergers & acquisitions Have a plan Talk about what you know and what you don t Share the thinking, not just the decisions Deliver experiences, not just information Align internal and external messages Pay attention to what people are saying Invite employees to participate Repeat, repeat, repeat Clearly and consistently communicate with employees to keep them engaged and inspired during times of change

31 Questions? Natalie Smith, Senior Vice President Kirsten Lesak-Greenberg, Account Supervisor