Finally getting a business you could merge with is probably a dream come true for you. It must have been a struggle, especially with all the merger negotiations; having to make the consequential decisions regarding your company.
However, you may not be prepared for what may happen next if much care isn’t taken. Whether you realize it or not, your employees will be affected by a merger of your company. Some may not be prepared for it and may be considering walking out the door.
A lot of uncertainty will set in and some might feel insecure about their jobs or their positions, or may not trust the top management anymore. Don’t be surprised if your employees seem to become more disengaged.
So how do you keep your best guys from flashing the red card and walking out? Here’s how…
#1. Reduce fear
Once your employees find out that there’s a merger underway, uncertainty and fear may set in. They will begin to ask all the questions pertaining to them- What does this mean for me? What happens to my job?
The best thing to do in this case is to have the answers to all their questions. Ignoring or failing to answer their questions will cause them to disengage and not focus on their work. So be sure to have the answers ready…
#2. Get them on board
Your next step in keeping your star employees with you is by getting them on board. It is vital that they’ve got your back and that they support the merger.
To do this, you have to ‘sell’ the idea to them. Inform them of the reason for the merger and the vision you’re aiming to achieve. They should buy the idea and run with it.
You’ll need to communicate effectively until they have confidence in the new merger.
#3. Choose words wisely
When communicating with your employees, it’s important that you put yourself in their shoes. Ensure that they feel that you’re concerned about their well-being and that you’re doing something about it.
Don’t mention the shareholders as the only reason for the merger. Remember that they are analyzing and studying everything you say or do so be sure to not exaggerate when communicating. Be honest and straightforward. Once they detect a loose end, doubt creeps in and so does a letter of resignation.
#4. Be constantly available
The thing that will be sure to kill your employee’s spirit is your lack of presence. Of course communicating is essential but let them know that they are able to talk to you about anything, at any time.
Make yourself available. There’s no need to force your employees to book an appointment before meeting you.