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Talent Trade Tidbit - Mergers, Acquisitions, Chaos, and Opportunity · The Talent Trade

• 0:00
  Hi, this is Stephanie Maas.
• 0:01
  What I wanna talk about today is kind of an exciting cycle, if you will, that we often see in banking.
• 0:08
  And that's the cycle of mergers and acquisitions.
• 0:12
  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.
• 0:23
  A lot of it, unfortunately, was for not great reasons.
• 0:27
  But this time it's for some really great reasons.
• 0:30
  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.
• 0:40
  So what exactly does that mean for you?
• 0:42
  Here's my advice.
• 0:43
  If you find yourself in the middle of a merger or being acquired, or you're actually the acquiring bank.
• 0:50
  Couple questions you wanna ask yourself.
• 0:52
  Number one.
• 0:53
  Do I want to work for the acquiring bank?
• 0:56
  You didn't sign up to work for them, but you know what?
• 0:59
  They're one of their Your competitors, you should know them.
• 1:02
  So knowing what you know, do you know enough to know if you want to go work there?
• 1:07
  Second thing, you have to ask yourself.
• 1:09
  I. Is duplication of job competition for job.
• 1:12
  Look at your organization, look at the job you do.
• 1:15
  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?
• 1:23
  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.
• 1:29
  You gotta know.
• 1:30
  Either way, you need to know the answer.
• 1:32
  Third category, our question is, should I just go into a wait and see mode?
• 1:36
  I know the acquiring bank, they have a good reputation.
• 1:39
  I know who does what I do there or they don't have anyone that does what I do.
• 1:43
  I think there's some value that could be added.
• 1:45
  I'm gonna go in a wait and see mode.
• 1:47
  I actually don't disagree.
• 1:50
  But I do think you need to be smart about it and you should always have a backup plan.
• 1:55
  'cause you just never know when all of this happens.
• 1:59
  It absolutely creates chaos in the market.
• 2:02
  For most people when they hear the term chaos, it has such a negative connotation.
• 2:08
  But I really wanna encourage you to think differently.
• 2:11
  Instead of hearing chaos and be thinking negative, I want you to hear chaos.
• 2:18
  Think opportunity.
• 2:20
  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.
• 2:30
  I get to watch them develop professionally.
• 2:33
  I get to watch banks grow and do really cool, fun things.
• 2:38
  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.
• 2:45
  So let's challenge ourselves to adopt the mentality that chaos.
• 2:50
  Opportunity.
• 2:51
  For some people, it's an opportunity to grow internally and get faced with new good challenges they otherwise wouldn't have.
• 3:00
  For some folks, it's the kick in the butt.
• 3:02
  They needed to go find something else because they really weren't happy in that current situation.
• 3:08
  Whatever it is for you, trying to find the good and the chaos.
• 3:13
  Because I think if you do look, you'll be surprised how many opportunities are in chaos.