Identity crisis: companies strive to preserve their unique culture otter an acquisition.

• Author: Christensen, Lisa
• Position: Focus

Acquiring another company can propel a business to new heights with an influx of resources, manpower and ideas, but those additions can also potentially water down or derail the culture that made the business successful enough to consider acquisition in the first place.

However, a little forethought, conscientiousness and communication can go a long way in ensuring transitions go smoothly and benefit the company.

Communicate and connect

Over the last three years, CBC Advisors has grown 310 percent, including acquisitions last year that doubled the Salt Lake-based company, giving it 30 offices in 11 states. Before that boom, the company's most notable acquisition was of an office in American Fork with around 30 employees, says Lew Cramer, CEO of CBC Advisors. When looking at the national expansion, Cramer says, everyone on the executive team knew it would be a whole different ballgame.

"It's a whole different challenge. It's all about communication, communication, communication," he says. "We were aware at the outset that we had to keep communicating."

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CBC Advisors hired a communications specialist with the specific goal to help keep all of the offices across the nation on the same page, Cramer says, and the administrative team chats weekly to make sure all concerns from all the offices are being addressed and everyone is on the same page.

"We want people to have a forum to bring something up. It's a very safe environment," he says.

Regular meetings and strong communication have also helped in acquisitions big and small by ExtraSpace Storage, says Clint Halverson, vice president of human resources at ExtraSpace Storage. ExtraSpace's acquisitions range from a single mom-and-pop property to large chains, and the protocol can vary greatly based on the size and needs of the new assets, he says, but communication is a constant.

When ExtraSpace acquires a new property, the senior administrative team addresses questions and concerns with a series of town hall-like conference calls with the new managers and sponsors an in-person town hall meeting to meet each employee face-to-face. The administrative team continues having regular contact with each location with a rotating schedule of visits, Halverson says.

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"We try to over-communicate, we try to be in front of them in these town halls. It's the little things--getting them into their uniforms, a small gift to say thanks for joining our team, and then...