Are you preparing to purchase or merge with another company?
Like any major business move, mergers and acquisitions (M&A) can be equal parts exciting and challenging. One of the biggest challenges of all is dealing with how employees from the impacted companies perceive the situation.
Enact This Communications Strategy for M&A Success
To ensure a successful leadership transition, you’ll want to prioritize an all-new communications strategy that speaks not only to the public but also to internal teams.
Communicate internally first
In the excitement of a merger or acquisition, many company owners neglect to communicate with their employees first and foremost.
Even before inking the contract, I advise owners to bring in a communications expert adept at helping owners prepare for high-impact change. This professional can help you develop a plan to share the news with employees on your existing team and those working for the newly acquired company.
Many company owners hesitate to begin this process “too early” out of fear that the deal may still fall through. However, even when that is a concern, planning your media strategy is one of the very first moves you should make as an owner.
A trusted communications pro will keep the news under wraps until the time has come to share it. And in the meantime, they’ll help you dot all the i’s and cross all the t’s to ensure the transition is seamless.
Get ahead of the rumor mill
When business owners fail to actively (and proactively) prepare an M&A communications strategy, they quickly fall behind to the detriment of their teams and customers. (After all, an uneasy team can’t provide top-notch service!)
While you and other C-suite executives are thrilled by the M&A news, feelings may not be so upbeat further down the line.
Even closed-door meetings or atypical travel can kick the rumor mill into high gear, causing employees to wonder, “Is my job safe?” “Should I seek new employment?” “Can I continue to share vulnerably with my manager, or am I being scrutinized for possible termination?”
Recognize that change is difficult
When preparing to merge two separate companies, you must take the time to identify and acknowledge the very different cultures, benefits, training processes, and management approaches that, while familiar to one organization, may prompt anxiety in the other.
By working with a communications professional, you’ll find your blind spots and learn to see clearly through the lens of the day-to-day workers who keep the companies alive and thriving. A comprehensive communications strategy can help keep your teams focused and enthusiastic.
Ignore internal communications at your own risk
When company leaders fail to prioritize and properly handle internal M&A communications, the resulting upheaval can be time-consuming at best and financially devastating at worst.
Coaches and culture builders can help teams navigate the changes caused by an M&A, but once the deal is done, you’ll find yourself chasing after an already-departed wagon, picking up the pieces rather than setting the stage.
Coordinate internal marketers with third-party communications experts
When consolidating marketing departments from two different companies, go ahead and accept that the teams won’t immediately share the same perspective. A third-party communications pro can help the two unique visions begin to overlap, guiding marketing leaders to collaborate effectively and positively impact their teams.
Marketers will need to collaborate early to develop:
- Fresh website content
- Rebranding possibilities
- Internal and external messaging
- Coordinated leadership styles
Keep your media strategy experts on board through the first news cycle, at the very least. They’ll be available to address both internal and external concerns that may arise after the initial M&A announcement, staving off any discord and answering key questions about the future of the newly associated companies.
Promote Positive Publicity with Guidance from Goodwin Consulting
Positive public relations stories don’t magically appear. With PR consulting and media relations from Goodwin Consulting, you’ll see your company highlighted in front of the right audiences, attracting the right customers, and drawing in the right talent.
When you’re ready to build a powerful communications strategy for your newly acquired or merged businesses, talk to your allies at Goodwin Consulting. We’re here to turn good news into great results!