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M&A success in 5 steps
For an M&A deal to work, special attention must be paid to communication strategies
There is almost nothing more difficult than guiding employees through change – especially after something as significant as a merger or acquisition. In fact, how leadership handles the transition can make or break a deal.
M&A announcements can sometimes catch employees by surprise. In the aftermath of the news, they will experience a gamut of emotions, many of them negative. This is when employees will opt to leave – and the best people, who have the most options, will be the ones you'll lose, leaving the new, combined organization with something less than what the transaction intended to gain.
For government contractors, this is a particular risk; employees with highly sought skills, security clearances and extensive government contacts are always being courted by other firms, and turbulence in the work environment can make a new job seem the better alternative.
The change in corporate culture also creates risk with government clients. When employees are going through their negative phases, there's an impact on productivity, output and client services – and I think that impact is often underestimated when planning for an M&A.
Even a modest internal communications program can increase employee retention rates and improve morale while changes are made – and that can translate into less distraction and better attention to customers (who themselves may be wondering about the effects of the M&A).
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