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Your employees are important to you. The disclosure to the outside world that a company is for sale — in other words, a candidate for a merger or an acquisition — can be a devastating bit of news. Case studies – Using employee feedback surveys post-acquisition So, it … Communication should be constant and delivered in a variety of ways such as email, FAQs, meetings, a dedicated website, videos, conference calls, town hall meetings, etc. However, communication skills are one of the hardest ones to learn. Much better for the leadership to encourage the anxieties of the managers to emerge.”. Layoffs are usually part of larger business decisions, such as mergers, acquisitions, or strategy changes. Share on facebook. It's now been three months since we completed the merger to form (company name). Are there unexpected changes in the sector or the economy as a … I’m proud to have been invited to work with, and advise, some of the world’s leading brands. We use cookies to help provide and enhance our service and tailor content.By continuing, you agree to the use of cookies. Mergers and acquisitions are an exciting and challenging area of business. To ensure a smooth transition during a merger or acquisition, it’s important to communicate with employees at every stage—from announcement through integration. Use the timeline to help people understand when the questions you don’t have answers for will be answered” – Elisabeth Wang, Executive Director, PR and Communications, @elisabeth_wang. By listening to employees, communicating effectively, and doubling down on its unique culture and programs, LinkedIn was able to thrive, even during its acquisition. The basic problem is that companies often can’t announce these changes early in the merger-planning effort. Harness a Proven Methodology to Keep Employees Engaged. place in the post merger phase. 1. Effective communication during the post-merger phase is required to: ensure a common understanding of the business case for the merger and the vision for the future; help people understand and internalize change; keep the organization focused on customers and productivity; reinforce desired behaviors; promote cultural alignment; Stay Focused . 2. Here are five best practices for managing layoffs that occur due to a merger. In a startup, the people on the ground have helped build a successful brand from nothing. A recent survey of managers conducted by the Darden Graduate School of Business explored communication practices that companies use to communicate internally during their firms' merger or acquisition. Major HBR cases concerns on a whole industry, a whole organization or some part of organization; profitable or non-profitable organizations. Work collaboratively with the legal and HR teams, as everything has to be aligned” – Laura Sutherland, Founder and Director @laurafromaura. Here are 4 Ways to Prepare Your Employees for a Merger or Acquisition: 1. What’s the worst mistake you could make? Make the merger announcement on new company letterhead or on stationary or an email template that contains both existing company logos. The 1990s could be described as the decade of the consolidation as some of the world’s largest corporations merged. If you are downsizing, then you know the anxiety it produces among employees and the way it impacts morale, productivity, and customers. The mere mention of the term "merger and acquisition" (M&A) can send messages of misinformation or half-truths. It’s business as usual” – Cheryl Martin, independent marketing communications advisor, @cmmbiz. The objectives of this email are to update you on how the integration of the two businesses is progressing, to explain what integration challenges lie ahead, and to highlight how you can continue to help the company deliver on its potential. Announce the merger. Communication during mergers and acquisitions is critical. Merger changes things more fundamentally than most of us have ever experienced before at work. Too often a company will focus on communicating a merger or acquisition to such external constituencies as the media and Wall Street analysts. You also need a log-in to Sainsbury’s site. The two are often talked about together and you’ll see M&A used to denote the pair. Who should make the announcement, and what communication channels should they use? Roadblocks you may encounter during a merger or acquisition 2. I recommend her post on the role of senior managers in a merger situation. Communicate honestly. Remember that your employees will want to know more than the details of the merger. Clarity about the motives and intentions, as well as the d 2. Darden A Case charges $6.25 . 1. The mere mention of the term "merger and acquisition" (M&A) can send messages of misinformation or half-truths. In six years AccentCare has doubled in size. Kickstart the comms as soon as you can. Only after the news is out does management turn its attention inward, usually relying on the more traditional channels for informing employees. As ever, you’re welcome to comment below or Tweet me @AllthingsIC to share your view. The buyer was a public company and feared premature disclosure. These mental worries remain in our minds and consume us. HOW TO COMMUNICATE A MERGER TO EMPLOYEES . “Lack of transparency – delaying tough answers doesn’t help you. How can organisations communicate change? Clients say working with me leaves them feeling inspired, motivated, full of ideas and ready to turn plans into action. In a startup, the people on the ground have helped build a successful brand from nothing. Management must be clear about motives and intent as well as attentive to the timing of the release of information during a merger, but a company requires strategic management of communications both internally and externally. Your employees are important to you. Employees need clarity on facts and figures, to have opportunities to hear information first-hand and be able to ask questions and to feel part of the process. To: All Employees From: Senior VP . The letter should come from the new top manager of the merged organization or be written as a jointly-issued communication from the CEOs of the merging companies. Share on email. Initial reading is to get a rough idea of what information is provided for the analyses. “Not being clear on the real timescale for reviewing resources in each part of the business” – Andrew Martin, Senior HR Consultant @AskAndrewMartin. Being in touch with and understanding our own feelings is a start. Enrol today >. The 1990s could be described as the “decade of consolidation,” when some of the world's largest corporations merged. 1. When they make the announcement to employees, it is, literally, a done deal. Breaking the News: How to Communicate a Merger to Employees Case Solution,Breaking the News: How to Communicate a Merger to Employees Case Analysis, Breaking the News: How to Communicate a Merger to Employees Case Study Solution, The mere mention of the term "M & A» (M & A) can send messages to misinformation or half-truths. What’s the best way to communicate mergers and acquisitions? Employees need clarity on facts and figures, to have opportunities to hear information first-hand and be able to ask questions and to feel part of the process. I imagine his message is along the lines of “this is what it means for us/you” at Asda. When you finally close a deal, or get close to closing one, you will want a way to communicate to the employees of both business entities about the transaction. I hope this email is a demonstration of my commitment to continue to improve in this area. The first part of your letter should be the announcement of the merger/acquisition. Communication is the key to organisational success and nowhere is this truism more apparent than in the influence of internal communication during a transformational process as dramatic as a merger or acquisition. A leader at one of the organizations was exceptionally good at communicating how individual employees would benefit from the merger. UVA-BC-0180, Available at SSRN: If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday. Share on twitter. This page was processed by aws-apollo4 in, http://www.darden.virginia.edu/faculty/bourgeois.htm, http://www.darden.virginia.edu/faculty/west.htm. Reassure them” – Paul Cawley, Communications & Engagement Officer, @paul_cawley. Initially, fast reading without taking notes and underlines should be done. NEW online masterclasses - learn about internal communication with Rachel. Further reading on the All Things IC blog: If you are responsible for M&A comms, you need to get organised. Communication during mergers and acquisitions is critical. If you … “Respect both companies’ brands and history. But when is the right time to tell employees about a pending merger? Create a timeline with milestones that can be updated and referred back to. Clarity about motives and intent, as well as timing the release of information during a merger, requires strategic information management. They recommend a multiphase approach that begins as soon as the transaction is announced and carries over into the weeks and months thereafter. Keywords: Acquisitions, communication, employees, mergers, success. Clarity about the motives and intentions, as well as the d Communicating the shared vision and goal of the transaction will help employees and other stakeholders to understand and accept the deal. Hot on the heels of the proposed merger of Asda and Sainsbury’s supermarkets, I thought I’d collate some advice and guidance to help you learn more about the topic. Be considerate” – Lynda Thwaite, Head of Marketing and Communications, @LyndaTLive. An effective communications plan identifies milestones, such as Day 1, and trigger events, including the announcement of … During a major change such as a merger, employees are in need of information that will bring clarity to their specific situation. Your employees are human beings too and you need to treat them that way too. During a major change such as a merger, employees are in need of information that will bring clarity to their specific situation. It is important to spend time reviewing all of these considerations before announcing because of the importance of your transaction being successful in the long term.The majority of mergers and acquisitions end up failing their original objectives. This page was processed by aws-apollo4 in 0.127 seconds, Using these links will ensure access to this page indefinitely. Required fields are marked *. Keeping employees motivated through this period of change is one of the most important considerations. Is the company stock underperforming? They will be the worried ones” – Paul Cawley, Communications & Engagement Officer, @paul_cawley. INTRODUCTION Weston et al (1998) believe that mergers and acquisitions (M&As) and industrial restructuring activities have raised important issues both for business decisions and for public policy formulation. While at the time most headlines focused on the economic effect of the mergers, some observers noted the internal impact on the companies involved. Employee survey questions to use post-merger or acquisition 4. Here are five tips that business leaders can use to manage communication and performance through a merger or acquisition: Strategize. © 2021 All Things IC LtdCompany registered in England No. It is said that case should be read two times. What works well? You can follow Kate’s thoughts via her personal blog. In no particular order (they’re all important!)…. Thank you to the professional communicators who have shared their thoughts as part of my blog’s #ICVoices series. Is customer demand lower than expected? Budget-cuts? Some decisions will be timed so market hears first but, initiate comms to your employees at the same time. 2. Power struggles prevail. Don’t wait for info/detail to communicate. Recognise it matters to employees, so as well as being clear about the benefits, be honest about the challenges and the risk and the steps being taken to overcome them. And that is just one issue to worry about! Communication is the key to organisational success and nowhere is this truism more apparent than in the influence of internal communication during a transformational process as dramatic as a merger or acquisition. A merger is a radical change which is already affecting everyone in both organisations, even if for many of them nothing is actually changing in terms of jobs or terms of employment. There’s a variety of ways I can support you including training, consultancy and mentoring to boost your skills and confidence. “Saying right from the start, “Nothing’s going to change.” I.e. Kate Davies, CEO of Notting Hill Genesis has been writing on her personal blog about the experience over the past few weeks. Breaking the News: How to Communicate a Merger to Employees Case Solution, The mere mention of the term "mergers and acquisitions" (M & A) can receive messages from misinformation or half-truths. Make the announcement to all of your employees at once, before you inform the media, vendors, suppliers or other parties. You can also book a free 15-minute call this way. Invite questions. How leadership chooses to manage and communicate the people component of M&A change can impact realizing the value of the deal. The multiple demands of planning our future strategy, running the business on a day-to-day basis, and dealing with the demands of the merger have interfered with more frequent communications. “We’ll keep our brand. Successful Organizations underscore the need for effective communications “The perseverance to … Clarity about the motives and inte 1. A recent survey of managers conducted by the Darden Graduate School of Business Administration at the University of Virginia has explored these questions about the practices that companies use to communicate internally during their firm's merger or acquisition. Congratulations on the merger, Rachel. She writes: “A merger is really a disturbing experience for those involved, where we confront both real dangers (will I have a job?) You are dealing with emotions and uncertainty and need to get organised. During a merger, it’s important to share with employees up-to-date information about business decisions that are being made, even if all the details haven’t been nailed down. If you disregard that then you lose trust and respect from day one” – Lynda Thwaite, Head of Marketing and Communications, @LyndaTLive. 3. File name: UVA-BC-0180.pdf “As well as issuing FAQ’s etc, ask people what three questions they most want answered; provide an honest open face-to-face contact – not a corporate messenger but someone who will address the elephant in the room as best they can; promote the positives in a warm inspiring way – where are the synergies, why should Joe Bloggs want to be part of that?” – Andrew Martin, Senior HR Consultant @AskAndrewMartin. Bourgeois, L. Jay and Yemen, Gerry and West, June A., Breaking the News: How to Communicate a Merger to Employees. A common pitfall is for the acquirer to communicate to employees early in the deal that they intend a “merger of equals” so as not to upset employees in the acquired organization. After a merger, HR leaders are often tasked with developing an internal communication strategy. This note reveals the findings and makes communication recommendations. Integrating cultures, values, expectations and staff is a big challenge for management – and for employee communication. How to communicate a merger. Suggested Citation, P.O. However, … The long term success of the merged company depends on the communication strategy to communicate with employees. When leaders feel they have said enough, employees still want more. Clarity about motives and intent, as well as timing the release of information during a merger, requires strategic information management. Before long, however, as systems and processes are overhauled, those employees realize they have been fed a “party line.”. “Plan but be agile, as nothing stands still. This immediately alerts existing customers to the nature of the transition … A 2015 report from Harvard Business Review found that between 70 per cent and 90 […] Too often a company will focus on communicating a merger or acquisition to such external constituencies as the media and Wall Street analysts. I Tweeted this morning to ask my network for advice about M&A comms. This is a serious case of change comms. 08383648Permission needed to reproduce content. This month a major merger was completed when two organisations, each made up of around 1500 people, managing about 65,000 homes between them, amalgamated into a £750m turn over organisation. “Not thinking of the risks and researching and planning for them” – Laura Sutherland, Founder and Director @laurafromaura. During a merger, you may expect employees to be distracted. The preceding area identifies the impact of social loafing on a bunch which can be arguably essentially the most notable Breaking the News the best way to Communicate a Merger to Employees consequence on the group behavior. Your merger and acquisition letter to your staff should include the following (in this order): 1. The basic problem is that companies often can’t announce these changes early in the merger-planning effort. Thanks for your insight. How you’ll coordinate communication between your existing employees and the business being acquired How updates and changes will be revealed to the company A timeline helps employees to feel like they’re still “in the loop” during the complex process of a merger. Mergers and acquisitions often create winners and losers at both the corporate and individual staff levels. How to communicate with employees through a merger. Breaking the News: How to Communicate a Merger to Employees Case Solution,Breaking the News: How to Communicate a Merger to Employees Case Analysis, Breaking the News: How to Communicate a Merger to Employees Case Study Solution, The mere mention of the term "M & A» (M & A) can send messages to misinformation or half-truths. This is a serious case of change comms. By ticking this box you are agreeing to our privacy policy. Box 6550Charlottesville, VA 22906-6550United States434-924 -4833 (Phone), HOME PAGE: http://www.darden.virginia.edu/faculty/bourgeois.htm, P.O. Some companies extend equity to founding employees, so the future of the company matters even more … Analyze current roles and responsibilities, and create a tentative plan. Share positive company announcements, like a new product in development or a glowing customer review. Breaking the News How to Communicate a Merger to Employees Case Study Solution & Analysis. Corporate reorganizations, mergers and acquisitions affect employees, customers, suppliers and vendors. The mere mention of the term “merger” or “acquisition” (M&A) often sent ripples of misinformation or half-truths throughout a company and had enormous negative implications for the merger integration process. To learn more, visit our Cookies page. Do get in touch below. STEP 2: Reading The Breaking the News How to Communicate a Merger to Employees Harvard Case Study: To have a complete understanding of the case, one should focus on case reading. Over-communicate. When managing projects such as mergers … “Over communicate. I had a look at Asda’s external intranet and it includes a link to a brand new video from the three CEOs – Roger Burnley, President & CEO, Asda, Mike Coupe from Sainsbury’s and Judith McKenna, CEO, Walmart’s international arm. All our profound emotions that are contained within our original organisational structure are released, and can result in ourselves or our people descending into panic – Who is in charge, will my manager change, will I have to work from somewhere else?”. Communicate and loop them into a conversation that can directly affect them. “Completing forgetting any emotional ties employees have to their former or new brand. Employees in one plant received the … the role of senior managers in a merger situation, How to communicate mergers and acquisitions. The mere mention of the term "merger and acquisition" (M&A) can send messages of misinformation or half-truths. How you’re going to communicate with your team. ), the offer remains open. To combat rumors and twisted facts, create a solid communications plan for your employees, leadership and other key stakeholders, such as customers and board members. They collectively have 330,000 employees across 2,800 stores and £51bn revenue. Only after the news is out does management turn its attention inward, usually relying on the more traditional channels for informing employees. What and When to Tell Employees about a Merger or Acquisition. Going off the last tip to boost employee morale, be sure to communicate! Ensure line managers have an FAQ on hand for follow-up questions. Communicate Often and Through Several Channels. Since most mergers and acquisitions fail, this ongoing communication to keep your new band of employees aligned and working towards one goal will greatly improve your chances of success. Rather than leaving everyone to wonder how the reorganization will affect their relationship with the company, it’s wise to develop communication strategies that address employee concerns as well as questions from customers, suppliers and vendors. So when is the right time to tell employees about a pending merger? Fearful employees might try to undermine the deal by giving the buyer a negative impression. You have collected up some really valuable views and advice here. How to Communicate with Employees During Mergers and Acquisitions. Listen to why Lindsay’s first duty is to understand the new audience, and what a good communications blend that drives business results and motivates employees looks like. Typically the senior management is accountable for breaking the news, but most of the questions are going to be asked to team leaders as the employees are most likely to feel comfortable to ask them. Employees, after all, have a role in implementing the changes that may be required to realize the merger vision. I really enjoyed this post. Merger & Acquisitions (M&As) are a valuable growth strategy for businesses looking to expand and acquire new capabilities. HOW TO COMMUNICATE A MERGER TO EMPLOYEES The 1990s could be described as the “decade of consolidation,” when some of the world’s largest corporations merged. Or visit my shop to see everything I offer. In contrast, merger consultants Clement and Greenspan stated: “Devising employee communications in M&A situations requires a tremendous level of strategic forethought and skillful execution.” An essential task facing a merged organization's management is the development of timely, honest, and detailed internal communications in the days and weeks immediately following a merger announcement and the eventual closing of the deal. “The focus on industry/market/investor communications and a lack of engagement and focus regarding employee comms. Ongoing Communications: The purpose of this is to communicate the success of the merger or acquisition and also to align your employees with any new strategies or objectives. I’ve included their thoughts below on their top tips, plus worst mistakes you could make in this situation. One culture unseats another. What communication channels should be used? While at the time most headlines focused on the economic effect of the mergers, some observers noted the internal impact on the companies involved. 2. If they don’t get enough solid information about the company’s future direction and where they fit into it, they are more likely to clock out – literally and figuratively. In the worst-case scenario, employees hear the news from neighbors, friends, or clients or read about it in the newspapers. 3. Good employees might get nervous and leave, reducing the acquisition value. If you wish to purchase the right to make copies of this paper for distribution to others, please select the quantity. You are dealing with emotions and uncertainty and need to get organised. One of 2018’s biggest business news stories was the proposed merger of SSE Energy Services with npower, to create a new, independent energy supplier with around 11 million customers for listing on the London Stock Exchange by Q1 2019 here in the UK. You need a log-in to access it. The audience for a company merger or acquisition announcement video is primarily employees but also stock holders, customers, vendors and the overall market. In a startup, the people on the ground have helped build a successful brand from nothing. From what I can see, they’re taking a joined-up approach to internal communication, which is smart, particularly having the message from the three CEOs, plus one from Roger. COMMUNICATION WITH EMPLOYEES FOLLOWING A MERGER: A LONGITUDINAL FIELD EXPERIMENT DAVID M. SCHWEIGER University of South Carolina ANGELO S. DENISI Rutgers University This study examined the impact of a realistic merger preview, a pro-gram of realistic communications, on employees of an organization that had just announced a merger. I’ve got lots of advice to share with you today including views from professional communicators in my network and a first-hand account from a CEO who has just been through a merger. Notify me of follow-up comments by email. The merger and acquisition process can immediately impact the stress levels of employees involved. Because affected employees will eventually see through the nonsense, and you can expect lost respect and lower productivity. Colleagues will have uncertainty. Would you like me to write more about this topic? Specifically, IC should communicate with employees about the necessity for the change, explain how the change will benefit them, and manage the stresses that accompany change. and mental anxieties (feelings of disorientation and loss, for example). Your employees are important to you. Sample merger and acquisition letter to employees. A merger or acquisition? All Things IC Hub address:Saunders House, 52-53 The Mall, Ealing, W5 3TA. The 1990s could be described as the “decade of consolidation,” when some of the world's largest corporations merged. Here's what a good communications strategy that drives business results and motivates employees looks like. No firm is regarded safe from a takeover possibility. How to communicate a merger. Before long, however, as systems and processes are overhauled, those employees realize they have been fed a “party line.” Leaders lose credibility and productivity slows. even so, social loafing also has an effect on the people today that comprise the team. One employee outweighs another. Communication should be constant and delivered in a variety of ways such as email, FAQs, meetings, a dedicated website, videos, conference calls, town hall meetings, etc. Identify the main milestones and trigger events. “I don’t know, yet” is an okay answer once you close the loop down the road. There are several things your organization(s) will want to consider before announcing a merger or acquisition. Do you have a query for me? I am not the only one who has lost sleep. I help practitioners around the globe increase their knowledge of internal communication. “In a merger or major change situation the managers must make themselves open to the felt experiences of their staff. Create an FAQ process that allows people to ask questions & receive answers. Rather than leaving everyone to wonder how the reorganization will affect their relationship with the company, it’s wise to develop communication strategies that address employee concerns as well as questions from customers, suppliers and vendors. A common pitfall is for the acquirer to communicate to employees early in the deal that they intend a “merger of equals” so as not to upset employees in the acquired organization. It only serves to erode trust” – Elisabeth Wang, Executive Director, PR and Communications, @elisabeth_wang. Merger Excellence will be achieved. Clarity about motives and intent, as well as timing the release of information during a merger, requires strategic information management.

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