PEOPLE BEHIND THE DEAL: A LITERATURE REVIEW OF HR PRACTICES ACROSS M&A PHASES
PEOPLE BEHIND THE DEAL: A LITERATURE REVIEW OF HR PRACTICES ACROSS M&A PHASES
Ivett Andrea MÁTHÉ, Krisztina DAJNOKI
1 Ph.D. student, University of Debrecen, Doctoral School of Management and Business, Debrecen, Hungary
2 University Professor, University of Debrecen, Faculty of Economics and Business, Debrecen, Hungary
matheivett@econ.unideb.hu
dajnoki.krisztina@econ.unideb.hu
Abstract: Mergers and acquisitions (M&A) are a key strategic tool for corporate growth, diversification and gaining a competitive advantage. Research findings indicate that a significant rate of these transactions fail to achieve the expected results, often due to the inadequate management of human factors. For this very reason, the strategic importance of the HR function in the M&A process is becoming increasingly prominent. Despite growing academic and practical interest in the subject, the relevant literature typically examines the role of HR only in certain stages of M&A processes, which limits the interpretation of HR practices across the entire process. This conceptual gap justifies the adoption of an approach that examines all stages of an M&A transaction within a unified framework. This study examines human resource management practices applied during the planning, integration and implementation phases of mergers and acquisitions, with the aim of identifying which HR tools support the success of organisational integration in each phase. The research employs a qualitative, theoretical approach, the methodological basis of which is a review of the international literature. Based on the findings, the planning phase is dominated by HR and cultural due diligence, risk analysis, human capital audits, and the development of integration, communication and training plans. In the integration phase, the focus shifts to the integration of structures, cultures and people, the establishment of knowledge transfer, the management of employee resistance, and targeted communication and training. In the implementation phase, the consolidation of new structures, workforce optimisation, managed redundancies, retraining, succession planning and employer branding become key HR interventions. The study highlights that communication and training are HR practices that span the entire M&A process but appear with different content and focus on each phase. The HR interventions applied in the three phases build on one another, and their common strategic goal is to increase employee engagement, reduce turnover and retain key employees. The study’s academic contribution lies in interpreting the role of HR within a unified, processoriented framework, thereby filling an identified gap in the literature and laying the groundwork for future empirical research.
Keywords: mergers and acquisitions; human resource management; HR practices; M&A phases.
JEL Classification: G34; M12; M14; M54.
