NLB Bank improved post-merger cultural integration

Transforming or building a new, desired culture in post-merger integration is an important factor. When two companies undergo mergers and acquisitions, aligning their organizational cultures determines the success of the entire integration process. 

In fact, in various reports, McKinsey highlighted that 95% of executives whose companies went through integration report that cultural fit is the primary reason integration efforts fail. 

To address these challenges, NLB Bank has incorporated the HeartCount platform, among a wide range of other initiatives, as part of its HR transformation process.

In just a year, they’ve built a strong, transparent organizational culture based on feedback.  

Case Summary

NLB Bank aimed to strengthen the company culture within its newly merged organization. Its focus was on building a unique, joint culture based on open communication and feedback. 

The biggest challenge was to prevent dissatisfaction that could arise from the clash of multiple organizational cultures and to find new levels of transparency and honesty.

To increase satisfaction, the new leadership developed a strategy that clearly focused on understanding and addressing employee feedback and monitoring employee engagement at all levels.

With over 2,000 employees, organizing one-to-one meetings with each of them and collecting regular feedback was impossible.

Using the HeartCount platform significantly contributed to building a strategy for listening and providing feedback. While they regularly used PulseCheck Surveys, they’ve started using other features and collecting feedback more efficiently on various matters. 

After a year of using HeartCount as a tool to improve employee experience, the bank has built a transparent culture based on feedback, with an employee participation rate of over 57%.

In addition, NLB Bank earned a Top Employer Certificate, reflecting its commitment to employee well-being and satisfaction. 

Customer Profile

NLB Commercial Bank operates within the NLB Group, the leading banking and financial group with headquarters and an exclusive strategic interest in Southeast Europe.

The Group operates in seven markets and supports its clients through retail, corporate, and investment banking services. 

Customer’s Problem

In the post-merger period, NLB Commercial Bank faced significant differences in organizational culture and communication. 

Ivana Bamburać, Head of Culture & Employee Experience, highlighted that the formal part of the merger was merely the starting point for rebuilding the company’s culture and creating a new employee experience.

The HR transformation involved changes in culture, employee experience, employer branding, employee development, and performance management. All initiatives were designed and implemented with the goal of building a strong and constructive organizational culture.

Solution

NLB Commercial Bank decided to:

• Regularly use the HeartCount platform, particularly its weekly Pulse Check surveys and other initiatives, as part of its HR transformation strategy.
• Monitor results and review weekly reports to address any employee issues around the following topics quickly:
  • Well-being
  • Personal advancement
  • Job satisfaction
  • Attitude towards the company
  • Relationship with management
  • Relationship with colleagues
  • Productivity and efficiency
  • Feedback and recognition.
• Respond to all feedback received through weekly surveys or custom surveys via a portal where all information is transparent.

Outcome

After a year of using HeartCount and other tools as part of its HR transformation strategy, NLB developed a “feedback-to-feedback” culture, where management not only reads employee concerns but also addresses each one transparently. 

These efforts resulted in an employee participation rate of 57%, a response rate of 40%, and a well-being score of 4.14.  

In addition, NLB Bank was able to reduce employee dissatisfaction from 6% to 2.5% in less than a year. 

Plans for the future

NLB Commercial Bank plans to continue using the HeartCount platform and expand its use, including specific questions about company values in regular surveys and providing more frequent reports to employees in gratitude for their participation. 
If you wonder if HeartCount can meet your organization’s needs, consult our experts!