Ernst & Young (EY) people advisory services teams include more than 15,000 people in 120 countries who assist companies with their professional services. Safe to say, when the company makes a change it can have a significant impact on people across the world.
EY has now announced that it has acquired Tao Leadership Limited, a company that focuses on driving fast-paced organizational transformation and culture change in businesses.
The deal was finalized with a 100% share purchase of Tao by EY and now the teams employed by Tao are expected to transfer to EY.
Tao’s technology allows companies of all sizes to combine behavioral science and analytics to launch rapid behavioral change programs in a 12-week period.
The deal is expected to help EY to adapt to the emerging challenges of supercharging employee experience and company culture during the shift to hybrid working.
As companies increasingly struggle with staff retention amidst the ‘Great Resignation‘ this could be a shrewd acquisition that helps EY’s vast clientele with their culture and engagement goals.
The importance of the acquisition
Speaking about this deal, Liz Fealy, EY global people advisory services deputy leader, said: “This is a hugely exciting acquisition for the EY organization.
“Supporting clients by putting humans at the center of transformation is a growing part of EY work, and behavioral change is a critical component of any transformation.
“Tao’s innovative products complement the EY broad capabilities in this area and bring a new dimension to the service offered to EY clients.
“We are delighted to welcome the Tao team to the EY organization.”
“Combining technology, social science research and coaching is an incredibly effective methodology, and the Tao platform identifies key organizational influencers to help drive change organically, from the ground up.