In the last two years, we have seen a string of headline-grabbing mining mergers, with Newmont’s acquisition of Newcrest, Northern Star’s deal for De Grey, and AngloGold’s move on Centamin among the most notable.

Much of the coverage has centred on the scale of the assets, shareholder returns, and production synergies. Yet for those working inside these companies, mergers and acquisitions are felt in far more personal ways, which are often overlooked.

‍

What employees experience

• Research shows that employees in organisations going through M&A often face heightened uncertainty. Questions around job security, reporting lines, and day-to-day responsibilities can quickly dominate. Even when redundancies are not planned, the lack of clarity can create anxiety and lower morale. Productivity may dip as employees adopt a “wait and see” approach until the future feels clearer.
• Culture is another area where the impact is sharpest. Bringing together two companies means blending different values, ways of working, and leadership styles. What looks like a strong strategic fit on paper can feel like a clash at ground level if culture is not managed well. Employees can lose their sense of belonging if their “old” company identity seems to vanish overnight.
• Communication plays a pivotal role here. Poor or inconsistent messaging breeds rumour and mistrust. On the other hand, transparent, regular updates, even if they do not have all the answers, help employees feel informed and respected through the change.

‍

Why this matters

The employee experience during M&A is not just a “soft” issue. Studies from organisations such as Culture Amp, EY, and McKinsey consistently show that neglecting the people side leads to value leakage, talent flight, and integration delays. Conversely, when companies actively manage morale, culture, and communication, they are far more likely to achieve the synergies that drove the deal in the first place.

For mining, where technical talent is both scarce and highly mobile, this is even more critical. A poorly managed transition risks losing the very specialists needed to deliver on the combined company’s strategy.

‍

What good looks like

The companies that navigate M&A most effectively tend to share a few common practices:

• Clear and consistent communication, keeping employees informed even if outcomes are still being shaped
• Respect for culture, identifying and preserving the best elements of both organisations rather than forcing a one-sided identity
• Employee voice, creating opportunities for staff to share concerns and feedback, and acting on it where possible
• Visible leadership, with senior leaders showing up, listening, and modelling the behaviours expected post-merger
• Support during transition, whether that is redeployment opportunities, training, or simply recognition that change is difficult

‍

A recruiter’s perspective

From my side of the industry, the pattern is clear. Employees who feel informed and supported through mergers are not only more likely to stay, but also more engaged in helping the new organisation succeed. On the flip side, uncertainty often drives people to look externally, and the market quickly absorbs good talent.

For leaders, the lesson is straightforward. Mergers and acquisitions may start with strategy, finance, and assets, but they succeed or fail on the people side. And for employees, understanding that your concerns are valid, and voicing them constructively, can make all the difference in shaping the culture of the company you will be part of tomorrow.

‍