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Hello all, at my company we are having a debate about how to approach Day 1. Some feel that having a quiet day with no celebration and giving the acquired time to reflect and then celebrating the day after is the right answer. Others (myself included) feel that Day 1 should be more ceremonial and more of a celebration. Does anyone have any strong opinions or insight here?
Hi there,
Day 1 is a critical milestone in the integration process and as such I also believe you should celebrate it pending of course of its success. Especially since D1 preparation takes many weeks (8-12 according to the syllabus) involving both the target and the acquirer, celebrating this milestone would help create a sense of achievement and bonding, which in turn may reinforce capability, focus and motivation for the next important milestones such as the 30 days, 100 days, etc…
How are you defining “Day 1” – literally the first business day following the completion of the transaction?
If so, I would treat it similarly to the first day of starting a new job – communicate, communicate, communicate. Yes, there’s absolutely a place for celebration on the first day, but from the perspective of all of the people who are now wondering whether they still have jobs – articulating the integration plan and letting them know that this is how they fit into the larger organization (assuming that this is true!) seems like something to start sooner than later. The longer you wait, the quicker gossip fills in the gaps, and the harder it will be to un-stick perceptions that have gained traction without any factual basis.
Gregory,
From the materials in these IMAA courses, literature I have read and personal experience, Day 1 activities need to done by the acquirer that are needed, required by some governmental agencies AND to avoid gossip/wrong information from starting. However, the Day 1 message to the target’s employees needs to be carefully crafted to communicate the right message. That should include acknowledgement that “we” (the acquirer) know this may be a hard day/moment for “you” (the target) and will work to make the transition be as smooth as possible. It should be encouraging to them and not have tone of negative messages such as “we win and you loose”.Regards,
DaleDay 1 is of extreme importance because many handover take place on this. Executive and management need to porvide a vey clear and concise roadmap and plan for the company. Honesty in commmunication is essential, it provide clarity and reduced uncertainty in rather uncertain times. Day 1 is where companies will need to focus on some quick wins and prioratize accordingly.
Day 1 is extremely important and each day 1 is different. For example, would day 1 begin when the deal is signed or would day 1 begin after the deal closed.
Based on my experience, day 1 is important to let the acquired company know what the acquisition means to their business strategy but more importantly what happens to them. “Me issues”. With employee retention, a key risk in a lot of acquisitions, it is essential that day 1 focuses on giving the “Target” company’s employee information on what to expect in the incoming days and what will happen next. Communication is key. Similarly to Dale Deg’s comment, day 1 messaging is extremely important as well. It is important that the target company messaging mirrors the acquiring company.
Day 1 is a very important day, I believe it depends on the target and their culture. I would suggest asking the leadership at target or preforming an employee survey?
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