Mergers and acquisitions are complicated no matter the state of the market. However, add a global pandemic crisis to the mix during negotiations and communications could easily be placed on the back burner as the pressure increases to close deals.
In times of crisis, communications are essential to gaining trust and affirming your reputation as a leadership team and organization that is guided by a set of goals and values. You can imagine what an employee, business partner or investor may be feeling as the market tanks and now you’re pushing through a merger or acquisition.
Based on historical information, times of change drive greater interest in consolidation for leadership teams to sustain their organizations during drastic economic fluctuations.
Don’t miss the opportunity to build a stronger relationship with your new company and teammates, even in times of extreme crisis. If anything, make communication an even higher priority on the check list.
If you’re about to manage a major M&A announcement during COVID-19, here are a 10 tips to help you protect and build trust with communications even while social distancing:
1. Write more candidly to your employees
2. Get ahead of their questions and provide information proactively
3. Never underestimate the value of a video call to convey emotion and truth
4. Get over videoing yourself and just do it, record videos to share on your private networks
5. Make core values a priority and remember to share motivating values weekly
6. Create centralized locations for access to information
7. Reach out to key employees and managers every day to see how they are doing
8. Host webinars and private live feeds with employees
9. Start that employee newsletter now
10. Incorporate instant feedback loops (surveys) on communications received
We have plenty more tips. Watch for our blog updates for more advice.
As always, the Gavin team is here to guide you through your M&A communications needs. Contact us today.