This topic contains 6 replies, has 7 voices, and was last updated by 1 month ago.
October 21, 2020 at 10:06 pm #114193
What recommendations do you have for mitigating negative perceptions and fear that comes with the uncertainty around an acquisition?
NatalieOctober 23, 2020 at 11:56 pm #114261
Communicate to employees quickly, transparently and often about their personal situation – when they will receive an offer, new reporting structure, what they can expect following the close, orientation with new management and most importantly the rationale for the transaction – why it’s a “good” thing – and how they are a valued contributor to execute strategy/vision. It’s also helpful to enlist their key employees that were supportive of the deal to address concerns and act as “cheerleader” to support the strategy.October 25, 2020 at 1:22 am #114276
Agreed, open and honest communication. Show them the growth plan and the benefits of the new paradigm. Especially important is continued updates beyond the initial announcement. Let them know how it is going and what needs to be done for it to be successful. Where possible, have one on one conversations and discuss their concerns and their future with the company.October 26, 2020 at 1:45 pm #114298
Open, transparent communication — it’s okay to overcommunicate! Incentivize employees to see the value of working on a workstream/team by offering bonuses and offering career growth opportunities.October 28, 2020 at 1:10 pm #114351
Recently, my organisation started discussing a merger with another organization. The deal is not yet done, but so far everything that could have been done wrong, was done wrong. So following a list of things to not do 🙂
– Have no clear team that is responsible for negotiating the details.
– Do not include people in the negotiations who will be most affected by the merger.
– Do not communicate with the two teams about the progress/process.
– Ask people to prepare calculations, but don’t tell them the reasons for it.
– After two months of discussions, start asking yourself if this merger is really what you want.December 12, 2020 at 3:04 pm #115685
2 years back my bank had acquired 2 other banks an I can share the experience I had gone through at that time.
We all had the uncertainty of getting fired when the management look for synergies during PMI phase. But the management kept conversing with us during team meetings regularly about the M&A developments and how it won’t be affecting our existing job profiles, what all future opportunities would be available and value would be created through that merger, future strategy etc. They also advised us about the departments that would be impacted going forward. So such transparent and honest communication, helped to allay our fears and gave sufficient time for others to plan for their future.January 25, 2021 at 9:53 am #116485
Open and transparent communication is crucial to instill trust in staff and prevent the decrease in their morales. By planning the integration prior to the acquisition, management can communicate their expectations and strategic direction to employees before the acquisition is finalised. This would allay fear and uncertainty among the employees.
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