2026亚太并购中的人力因素：弥合亚太地区交易中雄心与执行之间的差距

The Human Factorin APAC M&ABridging the gap between ambition and executionin Asia-Pacific dealmaking Executive SummaryThe Strategic Imperative of Human Capital in M&A Western firms invest in the region. M&A remains a powerful engine for growth. Managing the “People” side of transactions is the most challenging problem acquirers face. Cross-continental deals amplify this due to cultural differences and employee uncertainty.The Evidence Failure to realise expected synergies can be directly correlated to problems in integrationplanning and people transition. This survey reveals critical gaps in HR involvement. M&A Survey Report 202678% 92%Expect HR Rolein M&A Strategy Have M&A Plansin Next 24 Months 22%Have PlaybookDocumented HR M&A 28%Do Full HR DDDue Diligence Gap Survey MethodologyComprehensive Research Across APAC Markets Professional Services Consumer Goods Perception of M&A Success The APAC Deal Boom:Ambition Meets Reality APAC contributed ~US$1T with 33% growth,positioning the region as a key driver of thenext wave of dealmaking. Global M&A Context2025 Surge and 2026 Outlook Global M&A Context2025 Surge and 2026 Outlook AustraliaStrategically Focused IndiaFast-rising M&A hub ChinaAnchor Market Financial services, utilities, technology, Continued consolidation in financial services and technology Energy and natural resources dominate Strong industrials and technology activityResilient demand for critical minerals and materials sectors leadingExpanding domestic demand Regulatory-driven restructuring ongoingEmphasis on strengthening The Paradox:High Expectations,Late Involvement strategic role in M&A, yet the reality shows a starkgap between aspiration and practice. The HR Involvement GapWhen Does HR Actually Get Involved? The Cost of Late InvolvementWhy Timing Matters in People-Related Risk The ProblemHR is structurally excluded from the stages where the biggest The Impact value and people risks are determined. Late involvement limits HR’sstrategic impact and contributes to execution challenges. Only The Due Diligence Divide:Guessing on People Risks diligence. The rest are making critical decisionswithout understanding the people risks that couldmake or break the deal. HR Due Diligence RealityThe Gap Between Best Practice and Common Practice 2.1xData Insight 72%Do NOT Conduct Full-Scale HR DD Higher Success Rate Making decisions without understanding people risks Culture: The No.1 Missed ItemRanked 5th in Priority, Yet Critical to Integration Success Cultural Due Diligence Checklist The ParadoxCulture is consistently cited as a top reason for M&A failure, yet it ranks only 5th in priority during due diligence. Organisations focus on financial and legalrisks while underestimating cultural integration challenges. Direct vs. indirect, formalvs. informal channels Hierarchical vs. collaborativedecision-making patterns ●Cultural clashes lead to employee disengagement and turnover Decision-making friction slows integration progressCustomer experience suffers when cultures don’t alignSynergy realisation depends on people working together effectively Values & Mission Alignment Core purpose compatibilityand shared vision Individual vs. team-basedrecognition structures 4 Integration Challenges:Where Good Deals Goto Struggle execution determines success. HR teamsface structural challenges that underminetheir ability to deliver value. The HR Integration BurdenStructural Challenges, Not Capability Gaps +33%The Impact When HR is in the IMOData-driven insight Alongside Integration Responsibilities Offices Have HR as an Integral Member40% lack HR representation The HR Integration BurdenStructural Challenges, Not Capability Gaps M&A Integration Work+40-60% Regular HR Operations100% Additional HeadcountReduced BAU Responsibilities The Capability Gap:Flying Without a Playbook HR M&A playbook. The majority are reinventingthe wheel with every transaction, leading toinconsistent execution and missed opportunities. The Playbook ProblemLack of Documented Processes and Confidence Gaps 78%Do NOT Have a DocumentedHR M&A PlaybookConsequences Compensation Harmonisation Confidence41 Confident%Confident in Cross-BorderComp Harmonisation Inconsistent Approach Across DealsReinventing ProcessesEach TimeKnowledge Loss When 40% for Due Diligence SupportWhile external expertise is valuable, over-reliance indicatesinternal capability gaps that need addressing. The New Playbook:Building the Bridge M&A ambition and execution. The choice is yours:close the gap or lose the value. 1: Mandate Early HR InvolvementNo LOI Without HR at the Table HR Involvement Timeline The Mandate HR reviews target’s people profile HR must be involved before any letter of Intent is signed HR conducts full due diligenceCritical HR must have a seat on the core DD team, not advisory Integration planning begins 2.1x higher success rate with full HR DD 2: Fund Dedicated HR M&A CapacitySt