Tips for Change in Business Mergers or Acquisitions

Harmony Thiessen, Change Management Consultant, offers some tips for change in business or organizations.

As a change management consultant one of the issues we commonly face is the stress and chaos of a business merger or business acquisition.  Employees and stakeholders including suppliers and distribution, feel unsure, uncertain and frustrated at the loss of security and control over their career position and thus over a major part of their lives.

Often, company leadership overlooks the power of communication.  Companies fail to keep the employees in the loop.  This undervalues the worth of each individual and drastically affects the efficiency and performance of your team.

Since resistance is the default response to change, the best thing a new leadership team can do to optimize a delicate situation is to create open communication to engage employees in the transition strategies.

Transition strategies for Business Mergers and Acquisitions

Understanding human nature’s need to resist change, successful leaders work with the emotional response rather than against it.  Here are a few tips:

1.  Initiate a Communication Plan Immediately.  Don’t wait for all the facts to come in – by then, you have lost half your human momentum.  Start sharing and listening asap.
2.  Share why the step is necessary or is being considered. What are the benefits – and what are the risks (share within proper parameters)?
3.  Talk about the process, how long you expect it to take, how it will possibly effect jobs and what will be expected.

4.  When you offer information to your team, you offer them internal power.  People are far more likely to go to bat for you, take risks with you, and even face salary reductions or longer hours, if they feel valued.
5.  Create a ‘Listening Plan.”   Often when we use the term communication in relationships, business settings or political policy, the consensus is the same: talk.  We confuse communication with being heard.  Communication is about sharing and listening.  Remember the old saying grandma used to share: “ God gave you one mouth and two ears – what do you think He thought was most important for your success in life?”

Demonstrating empathy to stakeholder concerns through listening channels is as important as the information you share.  Consider:
a.    daily emails with a reply address that sends replies
b.    an internal company page (forum) for dialogue – not just for stakeholders to share in, but to receive feedback that they are heard.
c.    an open door policy to a leadership team member whose job it is to listen and give feedback.
d.    An FAQ internal page where questions are addressed (and not with jargon!)

The best tip for business merger and acquisition communication is honesty and openness.  This is almost anti – popular with the business world that forces change onto long-term employees with little regard for their humanity.