kaz29Вестник Казахстанско-Британского технического университетаHerald of the Kazakh-British Technical University1998-66882959-8109Казахстанско-Британский Технический Университет10.55452/1998-6688-2026-23-1-454-465kaz29-2538Research ArticleЭКОНОМИКА И БИЗНЕСECONOMY AND BUSINESSУПРАВЛЕНИЕ ЧЕЛОВЕЧЕСКИМ КАПИТАЛОМ В ПОСТИНТЕГРАЦИОННОЙ СРЕДЕ: МИНИМИЗАЦИЯ РИСКОВ И ФОРМИРОВАНИЕ ЦЕЛЕВОЙ КОРПОРАТИВНОЙ КУЛЬТУРЫ В КОМПАНИИ «X» ПОСЛЕ ПОГЛОЩЕНИЯ КОМПАНИЕЙ «Y»HUMAN CAPITAL MANAGEMENT IN A POST-INTEGRATION ENVIRONMENT: RISK MINIMIZATION AND FORMATION OF A TARGET CORPORATE CULTURE IN “X” AFTER ACQUISITION BY COMPANY “Y”https://orcid.org/0009-0008-6525-100XАбдыхалыковК. С.AbdykhalykovK. S.

PhD, председатель

г. Алматы

PhD, Chair

Almaty

almatyalliance@gmail.comhttps://orcid.org/0009-0007-8619-1483ЧерныхД. В.ChernykhD. V.

MBA, консультант

г. Алматы

MBA, Consultant

Almaty

darya.v.chernykh@gmail.comhttps://orcid.org/0009-0003-7458-8791ТайырА. А.TaiyrA. A.

MBA, главный бизнес-аналитик

г. Алматы

MBA, Chief Business Analyst

Almaty

altynaytaiyr@gmail.comhttps://orcid.org/0009-0005-2139-7734ЕсенжоловаБ. Ж.YessenzholovaB. Zh.

MBA, младший менеджер

г. Алматы

MBA, Junior Manager

Almaty

baljan83@gmail.comГражданский альянс АлматыКазахстанAlmaty Civil AllianceKazakhstanDeloitte Touche Tohmatsu LimitedКазахстанDeloitte Touche Tohmatsu LimitedKazakhstanАО «Компания по страхованию жизни «Коммеск-Өмір»»,КазахстанKommesk Omir Life Insurance CompanyKazakhstanPBN Central AsiaКазахстанPBN Central AsiaKazakhstan202629032026231454465Copyright © Абдыхалыков К.С., Черных Д.В., Тайыр А.А., Есенжолова Б.Ж., 20262026Абдыхалыков К.С., Черных Д.В., Тайыр А.А., Есенжолова Б.Ж.Abdykhalykov K.S., Chernykh D.V., Taiyr A.A., Yessenzholova B.Z.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://vestnik.kbtu.edu.kz/jour/article/view/2538

Современный глобальный бизнес-ландшафт характеризуется непрерывной консолидацией, где сделки слияния и поглощения (M&A) выступают основной стратегией роста для организаций, стремящихся к технологическому лидерству и расширению доли рынка в странах с развивающейся экономикой. Однако эмпирические данные свидетельствуют о том, что значительная часть таких сделок не достигает своих стратегических целей из-за систематического игнорирования вопросов человеческого капитала и культурного соответствия на этапе постинтеграции. В данной статье рассматриваются критические аспекты управления человеческим капиталом (HCM) в рамках трансграничного поглощения казахстанского телекоммуникационного оператора (компания «X») международным конгломератом (компания «Y»). Исследование направлено на выявление и диагностику кадровых и культурных рисков, возникающих в первые 12 месяцев после сделки – в период, когда ценность сделки наиболее уязвима. Используя смешанный метод исследования, объединяющий анализ вторичных данных, глубинные полуструктурированные интервью (n=23) и масштабные опросы сотрудников (n=106), авторы изучают социокультурную динамику, определяющую успех интеграции. Результаты выявили три основные угрозы: значительную «утечку мозгов» (рост текучести кадров до 15%, что вдвое выше нормы), глубокий культурный конфликт между предпринимательским духом «agile» поглощаемой фирмы и бюрократической централизованной структурой покупателя, а также критический коммуникационный вакуум (78% линейного персонала не были проинформированы об этапах интеграции). Ключевым выводом стала сильная отрицательная корреляция (r = -0,72) между качеством внутренних коммуникаций и риском увольнения ключевых сотрудников, что подтверждает количественную связь между прозрачностью процессов и удержанием талантов. На основе полученных данных предложена комплексная модель интеграции, включающая такие инструменты, как матрица рисков удержания и тепловая карта коммуникаций, предназначенные для формирования гибридной корпоративной культуры.

The contemporary global business landscape is defined by continuous consolidation, where mergers and acquisitions (M&A) serve as a primary growth strategy for organizations aiming to secure technological leadership and market share in emerging economies. However, empirical evidence suggests that a significant proportion of these deals fail to realize their strategic intent due to the systematic neglect of human capital and cultural alignment during the post-integration phase. This article examines the critical aspects of human capital management (HCM) within the framework of a cross-border acquisition of a Kazakhstani telecommunications operator, Company X, by an international conglomerate, Company Y. The research focuses on identifying and diagnosing HR and cultural risks arising within the first 12 months post-deal, a period where deal value is most vulnerable to erosion. Utilizing a mixed-methods approach that triangulates secondary data analysis, in-depth semi-structured interviews (n = 23), and extensive employee sentiment surveys (n = 106), the study investigates the underlying socio-cultural dynamics governing integration success. The results reveal three primary threats: a significant «brain drain» where voluntary turnover rose to 15% (doubling the historical norm), a deep-seated cultural conflict between the «agile» entrepreneurial spirit of the acquired firm and the bureaucratic, centralized structure of the acquirer, and a critical communication vacuum that left 78% of frontline staff uninformed about integration milestones. A fundamental finding is the strong negative correlation (r = –0.72) between the quality of internal communication and key employee attrition risk, providing a quantifiable link between transparency and talent retention. Based on these findings, a comprehensive integration model is proposed, incorporating data-driven tools such as a Retention Risk Matrix and a Communication Heatmap, designed to foster a hybrid corporate culture that preserves local agility while leveraging global scalability.

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The authors declare that there are no conflicts of interest present.