How to Keep Employees Engaged During a Merger/Acquisition
For many companies, acquisition or merger can be an attractive growth strategy. Acquisitions or mergers make it possible for companies to acquire top talent, streamline operations, and reduce overhead. However, on the other hand it also brings challenges related to employee’s integration. Numerous ideas pop up in the minds of employees when they came to know that their company is planning an acquisition or merger with some other company. They worry about contending with unfamiliar talent, not getting pay increases as well as being laid off. Due to this anxiety they won’t be able to concentrate on their daily assignments. It is the duty of the managers to carefully control these emotional employees and dispel nonsensical rumors.
All these sensitive processes can widely affect your business. Low productivity, low morale, loss of key employees, and absenteeism are some of the major consequences for not addressing acquisition or merger appropriately. Here in this article we shed light on how to keep employees engaged while going through merger/acquisition.
- Make strong leadership:
Forming a strong management team from both companies of the acquisition or merger always makes the process easy and successful. When both companies align to share same strategy, mission and vision, make sure the employees have a firm support team to turn to. Before announcing the transition, spot out the key leadership players and plan different steps that help you handle this change successfully.
- Communicate through different channels:
To battle against twisted and rumors facts you must have a solid communication plan for your board members, customers, leadership and employees. Remember that employees are a major part of your company, therefore they must know more than the ordinary details of acquisition or merger. 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. Flow messages through different channels to make sure that every stakeholder receives them. Practicing two way communication and readily ask the employees to share their suggestions is always a good idea.
- Align business processes and culture:
Of course every company has different cultures and ways of completing work. Before the transition it is better to carefully plan the new business processes. Arrange a meeting with your staff members and tell them how new changes might affect their workflows. Again, communication is very important here to keep your staff in the loop.
- Never leave your employees alone – take care of them:
Merger or acquisition benefits your company financially, but on the other hand it might also hurt other essential areas of your organization, specially your talent. News of the merger or acquisition leaves your top performers anxious, about their destiny and the new people they will have to work with in the future. Competitors take an advantage of this period and pluck your top talent. This can only be prevented by involving your staff through the entire transition process and tell them how they can fit themselves into the changing organization. If there are employees whom you don’t want to retain, it is better to let them leave the company with dignity.
Sabena James is a C.E.O of the marketing Buy Assignment company in the United States of America and has been working at this post since last 2 years, before this she was working as research manager in the same company.