Maintaining Employee Morale and Retention During M&A Transitions
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Leading by example is key to me. E.g. if you want to achieve post-merger integration, this should already be perceived from top management of both companies.
From my experiences with several PMI exercises, I find that clear and frequent communication from the senior leaders about the progress of the M&A integration process is always helpful to maintain employee morale. Townhalls and any face-to-face interactions are always better than via emails. Such interactions will allow employees the chance to have their questions answered, and are helpful to address any post-merger anxieties (e.g. redundancies) they may have. For the senior leaders, these communication sessions also are helpful for them to quash those unhelpful rumors that may have arisen from the grapevines.
While the communication processes can in some ways also help with employee retention during the M&A period, but it is also inevitable that in most M&A exercises, there will be people who will eventually have to leave or made redundant if their skills and experiences do not quite fit the new job profiles of the post merger integrated company. Therefore, it is essential for the HR M&A team to work with the senior leaders to identify the key talents that will be required in the end-state organization. Monetary related retention programs can obviously be considered as well, with conditions, as a retention hold of key talents.
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