Failure to Communicate Can Equal Failure to Retain
You’re facilitating an acquisition and you’re about to pull your hair out. There’s SO MUCH work to do, there’s financial risk, and you’re only one person.
If all that wasn’t enough, the employees are freaking out, have a billion questions… or worse… are completely silent.
An acquisition is full of changes, uncertainty, and stress to employees. Even though everything else feels more urgent, your future self will be kissing your feet in gratitude for creating a communication plan that keeps the monsters (panicked employees) at bay.
Be Proactive: Communication as a Retention Strategy
Employees need to hear from you. Why, you ask? Can’t they just wait and I promise I’ll share when there’s something worth sharing?
That’s the problem, friend. Ambiguity fuels fear, and in the absence of clear information, people fill in the gaps to create their own stories. These stories are never fairytales—always nightmares. If you can address concerns before they escalate, you’ll be planning a smooth transition instead of a mass exodus.
Announce Changes Transparently
Are you credible? If trust is a concern, you’ll be working from defense instead of offense every time. Tell the truth, and follow through on what you say you’re going to do.
Even if you’re not 100%, say so, and share these items as soon as you are able:
- The reason for the merger/acquisition
- What changes it will bring to employees and their way of work
- The expected timeline for changes
- How they can share their concerns and ask questions
- Saying “We don’t know yet, but we will keep you informed” is better than silence.
Keep it Going
Communication during M&A requires frequency to be successful. Here are a few items that you can incorporate. Remember, weekly communication is best practice.
- Regular newsletter with progress updates
- Town halls and Q&A sessions
- Pull individuals aside and check in with intentional questions
- Equip managers with talking points (and hold them accountable to communication ownership)
- Address rumors as soon as you hear them with direct communication
Being proactive helps employees feel informed, engaged, and ready to move forward TOGETHER. Will all of these employees stay for the long haul? Who knows? Don’t let poor leadership on your part make that decision for you.
