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how to tell employees about a merger

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. Among the factors that impact M&A performance is the quality of the communication with employees. Before long, however, as systems and processes are overhauled, those employees realize they have been fed a “party line.” Here are 8 ways you can retain your top employees after a merger or acquisition: 1. It’s time to win their trust, tell them that the merger won’t affect their job and also they will keep on getting other benefits. Address how the merger will affect employees directly. You are dealing with emotions and uncertainty and need to get organised. Outside of profit and market share, one desired outcome of a merger is to build a unified culture. Expansive claims about how essentially nothing bad will happen, sound worse than a more realistic approach. This letter will be sent out to all employees at the new organization to let them know how this merger or acquisition will impact their specific employment. As an HR professional, should your company go through a merger, you’ll likely be one of the key people responsible for juggling the many different duties that come with managing layoffs and downsizing—from following legal guidelines to providing a smooth offboarding experience for exiting employees. Merger announcement letters are addressed to your existing customers to encourage continued repeat business, introduce the new brand, emphasize customer benefits, state the company mission and explain any potential changes. One of the main reasons companies flounder in the weeks and months following a merger or acquisition is because employees become less productive when faced with stress, doubt, fear, and other … In an annual survey of 10,000 U.S. workers, the Kenexa Research Institute found that workers lose … Allaying M&As Fears Among All Employees. Define a new direction. A leader at one of the organizations was exceptionally good at communicating how individual employees would benefit from the merger. Also plan on telling them in the beginning of the week – learning that your boss is … The best time to tell your employees that you have sold and will be moving on is the next business day after closing. “There will always be rumors and gossip. Following the initial announcement, management should meet with employees. Communication during mergers and acquisitions is critical. Make a plan. Dear Fellow Employees: We are in the process of making a number of changes in our worldwide manufacturing operations that will require us to establish an after-tax profit reserve of about … It also provides resources for additional information about the merger. The basic problem is that companies often can’t announce these changes early in the merger-planning effort. Mergers and acquisitions (M&A) represent a make-or-break time for employee engagement. Employee Confidence. Celebrate your accomplishments and history. Set up a "town hall" meeting where people can ask questions – preferably in person – about what's happening. As frequently mentioned by researchers and practitioners, many mergers and acquisitions (M&A) fail to achieve their expected results. Remember that employees are a major part of your company, therefore they must know more than the ordinary details of acquisition or merger. Some employers purposely tell employees that the business is merging (as opposed to being acquired) so employees don’t get nervous about their jobs. The rumors of a merger have been circulating for months. Addressee Address City, State Zip. Although used together, mergers and acquisitions are different. Abstract. Perhaps you will need them to erase hard drives on computers or pack items around the office. A merger is when two companies join forces to create a new management structure and a joint organization. To successfully navigate a sale of your company, it is helpful to understand the dynamics and issues that frequently arise. An effective, proactive communication plan is therefore critical to ensure that employees understand the process and the timeline until the company can reveal the decisions it has made. And when M&A activity is in the air, employees from the soon-to-be-acquired company ask questions, says Shari Yocum, a managing partner at Tasman Consulting, an HR integration advisory services firm. Send out status updates at each stage of the merger or acquisition. Share past memories and allow employees to take part to say goodbye before moving on. This is a serious case of change comms. Come prepared with answers but don't be afraid to say you don't have … Employees are not children and know when they are being aggressively soothed. As a result, many employees flee in search of greener pastures. When two companies merge - or when another company is acquired - changes will have to be made to employment policies. For instance, if the business is closing or being moved, then you may need to tell employees on the tasks they will be expected to do in the weeks or months ahead. This is because the two companies are guaranteed … 4. The merger is effective immediately. 2. Both companies need to think about messages that address and allay those fears. Initially, it’s important to keep in mind that simply the prospect of a merger or acquisition automatically stirs fears among employees on both sides of the consolidation. If management can figure out how to harness the emotional commitment of employees during the transition, they can gain valuable support for the initiative that can have a ripple effect throughout the organization. When you announce your company merger or acquisition, there are several things to consider. But when is the right time to tell employees about a pending merger? Company Name or Letterhead Address City, State Zip. Employees' job security grows if a merger creates a more competitive business that's financially stable. For instance, if duties, methods and responsibilities will be changing, admit that employees will be asked to do things differently. The news of your sold business may hit the streets and you want them to hear the news from you, not on the internet. You will receive the most up-to-date stories, as has been the hallmark of The Daily Stratford, with the creative approach to news and events, the claim-to-fame of Stratford Press. Employees need to be informed about what changes will take place. Take Care of Employees. This requires careful planning and preparation of those selected to speak to the employees … While retaining employees after acquiring a company, it is important that you make your selection based on ‘merit’ and not on the ranks. 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 … It’s helpful to build a central location to announce merger news, receive questions and post answers to the most common questions. Date. The initial announcement will be responsible for letting your investors and employees know that you are currently working on closing, or have closed, a merger … Mergers tend to have a negative impact on how employees view their employers. Employees need clarity on facts and figures, to have opportunities to hear information first-hand and be able to ask questions and to … Team – You’re going to read in the news this morning (or afternoon for the London team) that we’ve entered into an agreement to be acquired by Cisco. The mere mention of the term “mergers and acquisitions” (M & A) can receive messages from misinformation or half-truths. The moment employees learn about a merger, fear, uncertainty, and doubt usually take hold. Clarity about motives and intent, as well as timing the release of information during a merger, requires strategic information management. Merger communications is a conversation, not a series of orders. Employees’ most immediate concerns will usually focus on pay, benefits, schedules and location of their work and should be addressed as quickly and fully as possible. Agreeing to merge with or acquire another organization may benefit your company financially, but it could hurt other areas of your business, specifically your talent. Your first communications priority is to answer the “me” questions. Because this is a really big deal and Cisco is a public company, I unfortunately wasn’t able to talk about it with all of you before the … The mere mention of the term "merger and acquisition" (M&A) can send messages of misinformation or half-truths. During the course of a merger, and before signing the deal, develop a clear plan for handling your people and aligning benefits. Once the merger or acquisition goes through, you’ll need to do the same with the employees of the other company. Don’t let those distract us,” CEO Anthony Tan is quoted. During the initial merger announcements, management can employ one-way communication such as print memorandums, e-mail messages, and company-wide voice-mail announcements. Select employees on merit. You may not hear the news you want to hear until things are pretty final, your boss may not be able to tell you what is going on and may not even be in the loop. But failing … Acknowledge pride. If stories don’t match among firm leaders or employees sense that you are stumbling through it, the outcome won’t be good. A merger, and any corporate action for that matter, can be a very unsettling period for employees in a company. Example 3: Company merger letter. To: All Employees From: Senior VP . The merger will provide the path to improved compensation and benefits for employees. Who … Reuters revealed on Thursday that Grab told employees in an internal note that the firm is well placed to make acquisitions. A Company Merger and/or Acquisition Announcement Template: What should you include? It's now been three months since we completed the merger to form (company name). M&A transactions can involve very complex business negotiations. To minimize disappointment and reduce anxiety, keep your staff informed. News of a merger or acquisition can leave even your star performers feeling nervous about their fate and the new set of employees … 3. Treat your employees how you'd like to be treated. But when is the right time to tell the staff about an upcoming merger? With this business merger, we will also join efforts to bring you the positive aspects of both newspapers. Clarity about the motives and intentions and timing of release of information during a merger, requires strategic information management. Letterhead Address City, State Zip business negotiations by researchers and practitioners, many mergers and acquisitions different... Transactions can involve very complex business negotiations series of orders complex business.... 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Revealed on Thursday that Grab told employees in a company share past memories and allow employees to part...

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