How to overcome people and culture issues when expanding in global markets paid CroweUSA
In some countries, hard caps on hours worked and generous leave periods are the norm. In others, deadlines are seen more as suggestions than sacred.
It’s also important to understand that the way you arrive in a new market can be just as significant to workers as your mission, compensation, or workplace policies.“A growth scenario has its own risks, but it probably carries less risk than acquiring because acquiring magnifies the trust issues that come with new management oversight,” Walztoni says. And in some major markets, most notably China, it is effectively impossible for an outside company to enter the market on its own.
In the United Kingdom, formal meetings held during the workday can pale in importance to the real work and decisions being made in a local pub after hours. Understanding the importance of connecting in an informal setting can make the difference between acceptance and failure. “Leaders and key influencers might share what they really think over a pint of beer at the pub rather than in group meetings if they are concerned their opinions could be perceived as resistance,” he says.
When companies charge in without understanding the business realities past a balance sheet level, their well-laid plans can quickly crumble. Walztoni cites the example of a company that made a French acquisition. The financial justification included a plan, approved by the acquirer’s board, to close an under-performing plant run by the new French subsidiary within 30 days. More than two years later, the company was still negotiating with the plant’s workers’ council on terms.
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