Management Consulting
Aon
Full Credential Description
A recent case study involving a $140 billion merger between two leading fintech companies highlighted significant challenges related to varied work cultures and employee mistrust. The differing compensation philosophies and benefits approaches necessitated a comprehensive redesign of the total rewards strategy for the newly combined organization. To address these issues, the M&A team initiated a thorough analysis of the existing compensation and benefits programs across 44 countries. This included recommending and supporting the implementation of tailored compensation redesign scenarios, which were essential for achieving synergy objectives. Following approvals from the C-suite, a preliminary compensation structure was developed alongside a communication and change plan aimed at ensuring understanding and buy-in from all stakeholders throughout the project. The results of this strategic approach were substantial. The client was able to optimize compensation and benefit expenditures for over 30,000 employees, effectively harmonizing rewards to meet the diverse needs of the combined workforce. This alignment was achieved generally within a year of the deal closing, fostering a unified organizational culture and enhancing employee engagement during a period of significant transition. The case underscores the critical importance of a well-structured total rewards strategy in the context of mergers and acquisitions, particularly in maintaining talent and ensuring operational success.