Cutting through Crisis
COVID-19 HR practices in India
Joint study by
Culturelytics & KPMG India
The survey reveals the impact that COVID-19 has had on a range of core HR practices, including employee well-being, engagement,
recruitment, compensation & benefits, performance management, and learning & development.
More than 300 organisations in 20 industries, representing more than 60 Lakhs (6 million) employees across the country, took part in the survey, the first of its kind since the outbreak of the pandemic.
Globally, mergers and acquisitions worth a total of more than $4 trillion take place every year. Studies show that more than 85% of these deals fail to create value, and in more than 30% of these, cultural misalignment is one of the key reasons cited.
Despite this, ‘cultural due diligence’ is virtually unknown, and many investors overlook the impact of culture on their acquisition strategies because they lack a clear way to measure it. But M&A due diligence continues to mature. With a new focus on people accelerated by COVID-19, it is expected that culture will soon be routinely integrated into the due diligence process, to accurately assess a target company’s corporate culture today and, more importantly, tomorrow.
The study clearly revealed investors’ belief that people and culture are vital in ensuring successful outcomes for M&A.
A new study conducted by data analytics company, Culturelytics and India’s leading investor research firm, Venture Intelligence sheds new light on the impact of culture on the outcome of mergers and acquisitions and reveals significant demand by investors for effective tools to measure and manage culture. This trend will only accelerate as business leaders prepare for a post-pandemic world.
For the study, a survey and in-depth interviews were conducted with India’s leading venture capitalists, private equity investors and investment bankers, along with heads of corporate M&A departments. Their responses and insights have given a new window into the effects of culture on M&A.
We wanted to share with you the initial results from a fascinating new study by one of our partners, the Barrett Values Centre, that examines the impact of COVID-19 on organisational values and culture. With participation by more than 2,500 participants from around the world, the Global COVID-19 Culture Assessment reveals important shifts in people's values, how they are responding to shifts in organisational values, and what they want for the future. We hope you find the report interesting and of high value