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Talent Trade Tidbit - Mergers, Acquisitions, Chaos, and Opportunity
M&A got you spooked? No need to fear. In fact, a little shake-up may be just the thing to stir up some unexpected opportunities...
Transcript
Hi, this is Stephanie Maas.
Speaker:What I wanna talk about today is kind of an exciting cycle, if you will, that we often see in banking.
Speaker:And that's the cycle of mergers and acquisitions.
Speaker:What is so fascinating to me is ever since 2009 and that unbelievable downturn in the market, m and a amongst banking has been incredible.
Speaker:A lot of it, unfortunately, was for not great reasons.
Speaker:But this time it's for some really great reasons.
Speaker:Instead, this time around, a lot of what we're seeing is m and a based on growth banks, buying banks to get into new markets for them.
Speaker:So what exactly does that mean for you?
Speaker:Here's my advice.
Speaker:If you find yourself in the middle of a merger or being acquired, or you're actually the acquiring bank.
Speaker:Couple questions you wanna ask yourself.
Speaker:Number one.
Speaker:Do I want to work for the acquiring bank?
Speaker:You didn't sign up to work for them, but you know what?
Speaker:They're one of their Your competitors, you should know them.
Speaker:So knowing what you know, do you know enough to know if you want to go work there?
Speaker:Second thing, you have to ask yourself.
Speaker:I. Is duplication of job competition for job.
Speaker:Look at your organization, look at the job you do.
Speaker:Look at whoever's acquiring you or whoever you're merging with, and who do they have doing that job and how do you stack rank against them?
Speaker:For a lot of us, we actually do a lot better job, so we're gonna be fine if there aren't any politics involved.
Speaker:You gotta know.
Speaker:Either way, you need to know the answer.
Speaker:Third category, our question is, should I just go into a wait and see mode?
Speaker:I know the acquiring bank, they have a good reputation.
Speaker:I know who does what I do there or they don't have anyone that does what I do.
Speaker:I think there's some value that could be added.
Speaker:I'm gonna go in a wait and see mode.
Speaker:I actually don't disagree.
Speaker:But I do think you need to be smart about it and you should always have a backup plan.
Speaker:'cause you just never know when all of this happens.
Speaker:It absolutely creates chaos in the market.
Speaker:For most people when they hear the term chaos, it has such a negative connotation.
Speaker:But I really wanna encourage you to think differently.
Speaker:Instead of hearing chaos and be thinking negative, I want you to hear chaos.
Speaker:Think opportunity.
Speaker:One of the most fun parts of my job is being able to work a specific niche and talk to the same people year after year after year.
Speaker:I get to watch them develop professionally.
Speaker:I get to watch banks grow and do really cool, fun things.
Speaker:I know that makes me sound a little dorky, but that really is part of the fun of my job and working such a small niche.
Speaker:So let's challenge ourselves to adopt the mentality that chaos.
Speaker:Opportunity.
Speaker:For some people, it's an opportunity to grow internally and get faced with new good challenges they otherwise wouldn't have.
Speaker:For some folks, it's the kick in the butt.
Speaker:They needed to go find something else because they really weren't happy in that current situation.
Speaker:Whatever it is for you, trying to find the good and the chaos.
Speaker:Because I think if you do look, you'll be surprised how many opportunities are in chaos.
