Develop special communications/plan for key customers/contracts, prepare talking points, Develop a plan to manage employee expectations / reactions, Identify ways to promote the Acquired Co's image within the acquirer. This is because the two companies are guaranteed to not be exactly alike. In fact, at the very time company communication needs to be better than ever, it’s often at its worst. It may be uncomfortable to go looking for bad news, but it’s even worse if customers have a problem with your business and don’t tell you about it. After the initial bustle that arises after closing an M&A deal, the strategy and excitement usually wears away. 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. We refer to the first ten questions on the list as “me issues”  because they are focused on the most common personal concerns of employees. Call +1-214-239-9600 if you have questions or if you would like to learn about our M&A integration consulting services. 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. individual discussions. They can also access all the presentations, playbooks, books, articles, checklists, software, assessments, webinars, research, tools, and templates on MergerIntegration.com. Help people understand the volatility of the situation. With email, Twitter, Facebook, and such, it’s like every employee runs a broadcasting station. Ten pages of guidance for customer-facing employees and teams to help them communicate effectively with their customers about the acquisition. They can find the answer to their questions on their own which will save you time. The communication role needs to begin during the preliminary stages to set the scene. Bobby is the only living songwriter who’s had at least one song reach the top of Billboard’s country chart in every decade for five decades running. They want information much more than inspiration. Your employees don’t hear about the success or the failures of this new venture, so they don’t have any way to stay motivated to see its continued success. Most M&As involve several people, and you need a strategy for who will own each aspect of the transition. Acquisitions create an insatiable demand for communication and connection. Why Do "Staggered Experiences" Foul up M&A Communications? Prior to any change we will inform you of the changes ... Five-page playbook covers media plan, talking points, letter to state and local officials, and posts for social and media websites. Fear not. Do not call out comparisons to other industry mergers or acquisitions. Just as critical as planning for culture fit is the need to communicate throughout the merger process. Q: Will my benefits change (insurance, 401k, etc.)? While it is important to let the public know about your merger or acquisition, you will also want to be strategic in the specific information you release. M&A Communication Plan: Everything You Need (And Free Templates), The Hart-Scott-Rodino Act and Premerger Notifications: An Overview. Fight the urge to sugarcoat the story—give people the good, the bad, and the ugly. Communication should be relevant and meaningful. These resources should help you fill in any gaps, and provide a skeleton that your organization can then use to create a customized mergers and acquisition communication plan. Put our customers and the business first. For many people the answer is about $200, twice as much as the loss. Employees need clarity on facts and figures, to have opportunities to hear information first-hand and be able to ask questions and to feel part of the process. Hot stuff. Don’t get distracted by what you may believe serves our internal organization at the expense of what our customers need. As with any merger or acquisition, we know there will be some job changes and some overlap that will result in job eliminations. They tend to tune out the inspirational talk ...", "With rolling FAQs, people can self-help. Use the below matrix to plan your messages. There are several reasons for this, including lack of knowledge about valuation, lack of understanding about value drivers, and cultural misfits. Our focus on delivering the best products and services to our customers and maintaining strong supplier partnerships ... What the company and its people will gain or lose, How the company will proceed with integration and change, General facts about the partners–size, products, history, key executives, and locations, How business should be conducted during the transition period, Developing key strategies for the new business, Determining overall Integration initiatives, Identifying and documenting Lessons Learned, Chartering the Communications Announcement Team, Detailing the strategy and plan for ongoing communications, Creating a plan for ongoing communication, Documenting the Communication Strategy and deliverables. ... such as sign-off procedures and a promise to coordinate internal communication. For your internal employees, the information should be very similar to that of the initial announcement, but with more information about the actual closing. However, there are many ways to tell a story that doesn’t include proprietary information such as exact revenue figures or projections. It’s important to remember that mergers and acquisitions are not democratic processes …. This is high drama. When you want someone to behave in a new way, explain the ‘new way’ clearly. A huge reason for this is a lack of communication and alignment between all involved parties. Are there any mandatory time parameters I should use for organizational structuring initiatives? PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. What touch-points should I have in my communication plan? If you withhold information from people, they may eventually figure it out and withhold information from you. Customer Communication Guidelines (excerpt from page 3). Our commitment is to make decisions and come to conclusions on a comprehensive integration plan by [month, year]. 1. Rumors start to fly as soon as people pick up the scent that a merger is in the works. 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