M&a hua yu: TNT "slow pass" genes

Source: in the 21 st century economic report author: yellow Kai

 

Starting from Shanghai hongqiao airport, less than 30 minutes, turn a few can enter heaven and earth viaduct hua yu group headquarters. This is a not luxurious office building, the entrance of orange logo is very smart. Here you can see sit between the grid young white-collar, well-dressed managers, fuck the northeast accent driver, fresh out of college, and only see foreigners.

 

But it really is a foreign company.

 

In March 2007, TNT international express logistics founder WangZhenHua hand from the Chinese space bought 100% of the company, the company will be after equity renamed "heaven and earth and the Chinese space". So, TNT air transport business to the heaven and earth and highway transportation business of hua yu each other added.

 

At that time, the Chinese space already is the biggest highway transportation network of business, but one of the founder WangZhenHua consciousness to the company "big but not strong", and the purchase of the Chinese space before sales rose difficult. So, he put his one organizes enterprise sold to international express delivery giant TNT.

 

It took to TNT, in the 1000 WangZhenHua left DuoTiao transportation lines, 12000 DuoWei employees, 17 customers and, at the same time, accepted the old hua yu management problem.

 

At the beginning of the integration, staff and management are some font. Managing director of the Asia Pacific region from TNT Michael derrick (Michael Drake) in a merger of his opening remarks on BBS, perhaps can peep out some clue: "we are a global operation of the internationalization of logistics companies, in March 2007, the acquisition of the wholly owned the biggest domestic logistics transportation company. Hua yu hua yu has 12000 employees, more than 13000 sets of facilities, 80% of the business is business, 80% of the staff of cash from a province of heilongjiang, most of people and from a city jiamusi, basically you can't speak English." This means that the cross-border m&a has is not open around the "cultural gap".

 

So, in the Chinese space on the heaven and earth in the integration of Confucius opening.

 

Governors cut right

 

The worry is that employees, their future career, how will the new company where the disposal? And the management of the new anxiety is, how to realize the smooth transition of TNT, heaven and earth and the coordination effect of the Chinese space?

 

A McKinsey survey shows that the proportion of transnational m&a success only 23%, and the proportion of failure is as high as 61%, the rest of the success or failure is uncertain. At the moment, the deal is almost not wrong: capital chain tension, financing cost is high, the investor patience is limited,. Once the integration of after the merger hobbled staff will upset, regulators will become fussy, competitors will also grasp. Just heaven and earth itself, although the Chinese space on TNT turnover within the system, but not a big itself for the mass, twelve thousand DuoRen logistics enterprise is already a big MAC, both integration and how much success rate?

 

Back then, TNT into China has nearly 20 years, the greater China management for a long time from China are rare local staff headquarters to China, the understanding of the market also lay particular stress on financial performance. Both sides just to begin negotiations, hope the new company will complete, standard of TNT operation system and the Chinese space of localized channel and the ability to realize complementary, is the premise of personnel should be stable.

 

The two original works are independent, not quite the same enterprise merged into one, is a difficult task. This not only need foresight to consider problem, still need to dig the smallest details. In order to realize the smooth integration in the early stages, TNT, do a lot of propaganda and the communication work, even invited 20 old hua yu executives to Europe to study. Earlier, even in the DuoNian TNT China work area manager, to European headquarters of the investigation is the opportunity is not good.

 

Rao, so this is still experience the integration and the Chinese space of the early days of pain.

 

The first challenge come from the change of business model. The Chinese space structure of the past in the power of the branch is more big, because each branch is an independent business entity, branches each does things in his own way. Every branch in their own cost structure to planning, as long as the line of their customers to send the goods to go, as for the walk of goods at another branch, often consider how much disposal. (traditionally, delivery value assessment, the output value into profit not included in the profits, will lead to some examination branch, do not take the arrival shipment value).

 

In fact, deliver goods is very simple, but very complex, and the arrival of the branch is likely to their own profits to consider and make the goods have reasonable transfer, causing the other branch of congestion. This led directly to the goods to the customer delay and reduce the operating efficiency. So, heaven and earth to strengthen the group and regional hua yu the control functions, such as line planning which will power group.

 

"Big guiding principles, such as price, lines, vehicles, etc must be in the group under the guidance of professional functional departments, area are formulated according to the local characteristics, can be in a certain range of flexible adjustments." Heaven and earth and the Chinese space a responsible for the strategic vice President said. Previously, even if is suzhou and changzhou two are close the gap between the price of the branch, all can be very large. In the past, the store's relatively free to pricing salesperson can, may the same customer, today and tomorrow's offer is not the same. In the long run, the company's brand image and operation must disadvantage.

 

At the same time, heaven and earth and the Chinese space for their own profits and losses to original every branch to make "income" policy, ensure that transfer group formed a more reasonable encouragement mechanism. Among them, the details of the involved in very complex, involving logistics enterprise operation system of basic.

 

On this basis, the Chinese space heaven and earth to promote the transformation of the performance appraisal. In the past, the company pay special attention to each branch of the results of operations, but after the assessment of TNT, capturing key became more "balanced" : in addition to the sales and the portfolio is outside, "personnel-service-growth-profit" TNT type management philosophy, is taken into examination system, because on TNT view, the "enterprise only treat employees, through the staff will service well, through the service to improve sales, sales growth through a profit". Derrick said.

 

The more big difference is that old hua yu out, and most of the family enterprise mechanism, even if the old employees in similar to a branch is bad, the group will also change a branch, the can always be found in an enterprise to place. Before the acquisition, the Chinese space of middle-level cadres above positions from the northeast to the old by most employees as. In contrast, TNT pay most attention to safety and performance is, both of them are not the same values.

 

In February 2008, heaven and earth in the Chinese space according to the internal performance by a big order, which has caused a cadre of layer to change "action". Company adjust to walk some level 1 subsidiary, general manager of reason or removed from the substandard performance, or to the customer service is poor, or management ability is insufficient. At the same time, the Chinese space according to public performance from heaven and earth, and recruiting new branch company general manager to fill the vacancies, and at the same time to create national campus recruitment, have introduced more than two thousand college students to a line work, including some work in a year when the department manager example.

 

Married "jiamusi girl"

 

In the six months after the completion of the acquisition, and the Chinese space of operation and management face some challenges. At that time, don't understand Chinese derrick concurrently heaven and earth and the Chinese space President, began visiting branches. Derrick and the Chinese space management team spent the whole nine months of each branch company, with the visit to general manager down to a staff talks to find one, the idea of employees, explore where contradictions.

 

In chalking up the dialogue, TNT consciousness to the employees, the old hua yu education level is uneven, but a real status. On TNT, the internal acquisition is said to be "simple jiamusi country girl married to the Netherlands a millionaire." Want to let jiamusi girl with new families simply follow the enterprise TNT, culture and management mode is it won't work, "to a happy marriage, it must understand and respect each other." As for TNT, must respect the old hua yu culture, learn from its successful experience, again on this foundation research to set up what.

 

Heaven and earth and no less frustrating taste the Chinese space of taste. Shortly after the merger has English training courses offered, hope more smooth communication, to staff the TNT concept to heaven and earth to the Chinese space. However, it started the hua yu employees in the most sensitive nerve, can't speak English among employees creates a worry: later in the heaven and earth spoke no English, hua yu is no future?

 

Want to know, merged party first in the vulnerable, they often feel may will each detail is magnified indefinitely, which causes the outlaw motion, they sometimes even down in an E-mail. Derrick afterwards to understand, especially under, "don't despise instructs a E-mail, have staff don't understand why must be through the email communication."

 

In addition, the old hua yu and most private enterprise, employees will be as boss as a invincible general founder is the core of enterprise belief, is also all decision-making and operation of the commander in chief. This "the management of family" although culture efficient, but also the constraints of sustained development of the company. Heaven and earth, after the establishment of the Chinese space company's performance reflected in the financial statements of the TNT, decision cannot easily by the word "." In other words, workers in the heart of worship, the company not only founder disappeared from income up old employees, but also to attract them a clear values and cultural support.

 

This change is not by leaps. At first, policy meeting everybody always yes let President panic, then heaven and earth and the Chinese space had to set up a "unspoken rules" : "if no one mention opposition, will not make any decisions." DuoCi running-in, management after gradually formed first discuss atmosphere.

 

In addition, in order to show respect to the old hua yu history, and the Chinese space will transport vehicles painted TNT brand color orange at the same time, have retained a blue cross to take, this is the original color of the Chinese space. At the same time, heaven and earth and the Chinese space improved the management of human resources, the company for social security, but also the whole purchase invest a lot of money in staff training and skills in ascension.

 

After half a year, after a successful integration of communication, and the world of the old employees began to hua yu to the future with a new look forward to. In April 2008, the Chinese space heaven and earth month of its record high performance, this time from the acquisition of time just one year.

 

Now, heaven and earth more employees hoau has reached 18000 DuoRen after the merger, the staff turnover is not high, with Derek words, "of the 18000 people, the management of the TNT to from less than 100."