| Abstract: | There is a wide body of evidence that suggests that the management of 'human factors' in post‐acquisition implementation is important and, where it is badly managed, helps to explain why up to half of acquisitions are not deemed to be successful. A central feature in this process is the management of employee expectations. Using research insights drawn from the management and formation of expectations in recruitment and from breaches of the psychological contract, this article reports on research in organisations subject to a takeover within two years of the field work. Detailed findings on two of these cases are used to explore the dimensions of dual expectations in such circumstances. It is suggested that employees in acquired companies have concerns that become expectations concerning both themselves ('me') and their work group ('us'), ranging from immediate job and employment worries on transfer to longer‐term status and behavioural and cultural concerns in the 'new' organisation. These expectations will vary over time and have different facets according to the seniority of the employee, the degree of integration sought by the acquirer and the extent to which expectations formed are proven to be realistic and realisable. The two cases analysed reveal different aspects of unmet expectations in acquisitions. Seven factors were identified as influential in shaping employees' expectations in acquisitions: quality of communication, believability of information, trust in management action, credibility of leadership, fairness of action, consistency of action and communication and logic of management action or behaviour. |
