An established, global diagnostic company that is experiencing rapid growth, both organic and inorganic.
The life sciences company acquired another diagnostic company but chose not to merge the two businesses. After operating independently for a few years, the client made the strategic decision to merge the two entities. As part of this process, the client also appointed a new chief compliance officer (CCO) to establish a comprehensive compliance program from scratch that the newly merged companies could adopt.
The task of creating a new compliance program posed a significant challenge for the client. However, an additional layer of complexity arose from the need to successfully and efficiently integrate the distinct cultures of the two businesses that had been operating independently from one another for several years.
To help soften the integration and adoption of a new compliance program, Baker Tilly assisted the CCO with developing a principal-based program by establishing a framework of guiding principles that employees and stakeholders should follow to ensure ethical behavior and compliance with laws and regulations.
With these new guidelines in place, there was some resistance to change by the employees. To help team members with this resistance and understand the compliance program better, Baker Tilly implemented various change management strategies, including:
With the help of Baker Tilly developing a principal-based compliance program and implementing change management strategies, the new program was accepted and embraced in a short period of time. This resulted in an organization that now sees compliance as an integral part of their business, rather than an annoyance, and a resource that can be used to make sure they are making the right decisions when faced with a difficult situation.
In addition, the success of the program has prompted the client's headquarters to take on the same principal-based compliance approach to a global level and implement it throughout different offices around the world.