A complex merger or acquisition can take several months - even years - to be completed successfully, so your organization’s M&A communication plan will be different from any other company. An owner, due date, and priority are assigned to each task. Spreadsheet that includes the following columns for each stakeholder group: Covers all the tasks acquirers should follow to ensure all constituencies, including customers, employees, and investor relations, are well informed. Maintain the very highest ethical standards and remain focused, as always, on serving the needs of our customers. This will reinforce all of the previous information that you sent out as well as notify them that the deal has finally closed. But, the five points listed above should be enough to get you started with a strong backbone for a really solid communications plan. What is going to change? It’s not enough to hold a company wide meeting announcing the deal and crafting your Day One message. But because their communication troubles developed insidiously over the past twenty years, top management doesn’t grasp the scale of the problem. @acquirer has completed its acquisition of Acquired Co.. #gamechanger #acquirer #our industry [link to press release]. Manage expectations and plan for consistent communication about what the benefits of the merger are to all employees, and not just to the company and its executives. What do they sell? Without adequate information, people will cook up all sorts of wild rumors that create unnecessary stress. We have compiled lists from our M&A integration consulting projects of the most common questions asked by: Common Employee Questions The right communication plan can eliminate issues with productivity, reduce anxiety, and maintain efficiency in a coalescing company. How to build a successful merger communication strategy: 6 steps. Communication is a vital component to the success of any merger and acquisition. Maybe then they’d remember the song when talking to their employees about being acquired and merged. After you deliver the messages, answer the last two questions to help with future communications. The truth is a moving target, and often dead on arrival. 3. Yet, most key managers receive little education on what to say, and just as importantly, what not to say. You can assure our customers that we will not miss a beat in delivering on our commitments. When merger difficulties develop, 75% of them have their roots in communication problems. When employees become preoccupied about what might personally happen to them, they focus less on their work. The truth is a moving target, and often dead on arrival. Pre-Close Briefing to M&A Integration Teams, Answers to FAQs from Integration Planning Teams, Example of Completed M&A Core Message Document and Core Message Template, Day -3 Through Day 1 M&A Communications Plan, Stakeholder Analysis Template for a Post Merger Integration, Communications M&A Integration Playbook - $220 Million Acquisition, Day 1 M&A Playbook: Supplier Communications - $1.6 Billion Acquisition, Communications Playbook for Media, Social Media, and Websites - $760 Million Acquisition, Supplier Communications M&A Integration Playbook - $3 Billion Acquisition, When and What to Communicate to Employees in a Merger and Acquisition, Employee Meetings: Announcement, Day One, and Post-Close, M&A Insights Drawn from a Nobel Prize Winning Psychologist, Sugar-Coated Merger Announcements Leave a Sour Aftertaste, Post Acquisition: Customer Survey and Letter. Lack of Communication. Will I lose my job? Call +1-214-239-9600 if you have questions or if you would like to learn about our M&A integration consulting services. No company is perfect. individual discussions. Actually, the term “merger of equals” is a technical term used in M&A to indicate, for example, that the deal qualifies for a specific tax treatment. Include location address and specific times, Website: make all adjustments and key information for Target employees available online. They tend to tune out the inspirational talk ...", "With rolling FAQs, people can self-help. They will continue to receive the same distinctive quality and service they have come to expect from us. This creates a mindset colored by uncertainty, anger, and distrust. For example, if you are merging with an organization that uses a different vendor from you, for the exact same business need, you will need to notify this vendor of the transaction so they can prepare for how this could impact their business. Besides, over the weeks and months to come, something is bound to change. Take the initiative to reach out and introduce yourself. After the initial bustle that arises after closing an M&A deal, the strategy and excitement usually wears away. If you plan to change pricing, products and services, complexity would be greater still. How can you counter this business slowdown? Like cool hand Luke, most companies are being severely punished. Chances are they may have experienced some turbulence caused by the transition. If your organization is currently going through a merger or acquisition, you may be wondering how to communicate this to your staff. looks across at the rest of the chain gang, pauses, and in a strained voice says, "What we have here is failure to communicate". We will begin immediately to get to know each other and develop plans to combine our businesses in the most effective way. 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. Just because a particular approach worked well in the past …, Assuming managers are informed and onboard. Close Day If a customer asks a question that is not included in these materials, it is likely something we cannot answer at this time. It also detailed all deliverables, listing the audiences, the owners, the deadlines, the required preparation times, the content-approval processes, and the interdependencies. It’s official! Acquired Co. has recently become part of the Acquirer Group. How to Avoid Productivity Drop-Offs During a Merger, eMerger: Software for M&A Integration Planning and Communication. He’s a big name in the world of country music, though, a living legend on Music Row in Nashville. As people have to break their familiar routines, performance weakens. The 4-page example of a merger core message document serves as content for various M&A announcements and helps ensure consistent communications throughout the organizations. Practically everything they communicate is taken seriously, studied for innuendo, or held up to the light for subtle implications. Clear and transparent communication during a merger or acquisition can be difficult due to government regulations, private company preferences or timing. Information Technology: Day 1 Answers to Frequently Asked Questions. Posted on October 7th, 2015. Use the below matrix to plan your messages. Changes may come, but not right away. Communication during a merger should not be improvised. While a merger happens when two companies combine together to form one company, acquisitions happen when one company is taken over by another company. There is little opportunity for them to make an insignificant remark. Identify areas subject to name or identity change, plan process of change over and begin ordering new stationary, supplies, signs, banners, business cards, company forms, etc. This is high drama. Don’t assume the new moves are obvious.” It’s not good enough to ask your team to “adapt to change” or “support the merger.”  Say specifically what you want them to …. You will want to notify them of such a big company change, and let them know how, if at all, this will impact your business relationship with them. For the time being there will be no changes and we will continue to go to market as we have in the past. What touch-points should I have in my communication plan? PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. We will act with purpose, focus and transparency to integrate our two companies working closely with our stakeholders every step of the way. The ‘loss aversion ratio’ has been estimated in several experiments and is usually in the range of 1.5 to 2.5. The speed, reach, and sheer volume of information circulating from the people in your workforce eclipses what was possible just a few years ago. Why Do "Staggered Experiences" Foul up M&A Communications? Critical communication meetings with employees occur: 1. As we make business decisions over time, we’ll work closely with our employees, customers and suppliers to ensure smooth transitions. Company and Target will keep existing practices in place for the short-term. Plan early and continuously throughout the merger or acquisition, and set expectations for roles and responsibilities early on in the process. Why: an Overview of generic problems during integration much as the loss corporate driven and not. That both companies will be corporate driven and do not need to create a multi-step communication plan Everything. 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