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Should an acquiring company be transparent pre and/or post-closing on retention of employees, leadership etc. What are your experiences on experiences, best practices, pros and cons.
Yes – I think you should disclose your intentions of leadership roles and include any key individuals as part of the closing. On the larger level, I don’t think you can promise that the organization as a whole will not be impacted but being transparent in your goals of the acquisition should be shared
I also think transparency is a must.
Thinking of layoffs etc. it of course can be a disadvantage to communicate that too early. But if you don´t appear trustworthy to the employees/management of the acquired company the best employees will leave anywayIn my experience, not being transparent initially helped boost participation in short-term projects immediately after the acquisition where we really needed the legacy knowledge. However, it did lead to poor company reviews later on. Being upfront about retention plans and leadership continuity can build trust and alleviate uncertainty among employees… but it is a delicate balance to not overshare sensitive information early on either.
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