A few months back at a business development conference in New York, I attended a discussion on post-merger integration. On the dais were a moderator and two panelists—a corporate development executive for a global outsourcing service provider and a consultant from a well-known company. Talk turned to the need for integration teams empowered with the tools to map out a comprehensive merger strategy and the resources to execute it with precision.

There was agreement all around—that is until the corporate development exec said that integration team leaders at his company were also expected to fulfill the duties of their regular jobs. This drew an immediate response from the consultant. Managing post-merger integration can be a full-time job in itself, one that can take many months to complete, he argued. It’s unrealistic to think a person can oversee integration and perform a second job simultaneously. There just aren't enough hours in the day, he said.

A flurry of audience comments and questions followed, with the consensus being that, of course, it’s best to have a dedicated team focused solely on post-merger integration, but it's not always practical, especially in small and mid-size operations.

I wonder how many corporations invest the resources necessary to support a dedicated post-merger integration team, or at least a point person to oversee the operation, especially when a mega-merger is on the table? The decision is about more than money. Integration teams often include some of a company's smartest, most valued employees. Can a company really afford to pull those people away from what are likely key positions?

At the same time, the vast majority of acquisitions fail to deliver the projected synergies, and some even result in a negative drag on the company. That said, the cost of freeing up at least one employee who knows your business inside and out, would be a bargain compared to the financial reverberations of a billion-dollar-plus merger gone bad. — Suzanne Stevens

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