“Ask them about the milk” was the unusual suggestion made by a client as I prepared to run a workshop with some unhappy employees of a financial services company they had recently acquired. The company in question was Bearings Asset Management (BAM)*, previously part of Bearings Bank which had been bankrupted in 1995 by the rogue trader Nick Leeson. Subsequently, the bank was sold to ING Group for £1; a traumatic comedown after over 200 years of successful trading. 10 years on, BAM was sold onto my client.
During the workshop we sketched out a timeline, plotting significant moments in recent years and how people had been affected by them. As we talked about the ING takeover, I asked them “What about the milk?”. They let out a collective groan before angrily explaining that under ING they had to buy their own milk for the coffee area, whereas previously it had been free.
It was clear that this seemingly minor gripe had become a lightning rod for all the anxiety and frustration they felt. The milk was a symbol of the tragic downfall of Bearings. Surfacing this story opened the door to expressing their fears and unease about the latest take-over. This made it easier to defuse the belligerent behaviour that was currently disrupting company operations due to misunderstandings and insufficient communication.
The moral of the tale is two-fold. 1) Provide people with opportunities to openly express their concerns and be heard. 2) Bad feelings generated by poorly managed change may disappear from view, but they will continue to undermine business performance until they are addressed head-on.
Sometimes it’s helpful to cry over spilt milk.
*Bearing Asset Management Financial Services Group
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