Your company just announced it will be acquired by ABC Company. Now everyone is scrambling “just in case”. Well executive leaders, you have your work cut out for you. So, what do you do?
To start, set up a communication plan for getting the most accurate, timely information out to employees before they head to greener pastures being sure to:
- Acknowledge the natural emotional reactions of the news and the uncertainty it presents.
- Talk candidly about the rationale and logic behind the acquisition, the background of the acquirer, and the foreseeable upside and challenges to the new combined organization.
- Disclose how success of the acquisition is measured and build connections between employees’ goals and contributions with success measures.
- Encourage energies directed to (1) building a better combined company, (2) producing the same or better results, (3) working cooperatively with the acquirer since we are all on the same team, and (4) being open minded to changes, improvements and opportunities.
- Share the new organizational structure and changes to people practices; be honest about the unknowns.
- Touch base with employees one-on-one to better understand their personal concerns so you can better support and guide them.
- Identify how frequently folks can expect updates and who the “go to” people are for answers to questions. Then ensure follow-up.
- Coordinate with your executive peers for consistent, timely information. Get executives from the acquirer involved in the meetings so that employees begin to get flavor for their style, values, and philosophy.
- Throughout – bake listening, empathy and addressing issues of concern into your 360 communications. If the rumor mill persists, due to employees filling in the gaps, then refine your communication plan.
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