Mergers and Acquisitions (M&As)

How change management is essential during an M&A

Managing change during a Merger and Acquisition (M&A) can be incredibly stressful and go catastrophically wrong if senior leaders, or even staff alone, are not ready for the change.

Often, companies treat the change as a separate entity or stand-alone activity. This can have a devastating effect on how the collective workforce approaches, views or deals with a merger.

M&A’s need collaboration from all sides

Although change management has a hierarchical directive, collaboration and communication with senior leaders is key in its creation and implementation. By providing opportunity to feedback and contribute to change because of a recent M&A can create a more unified and embracing culture which will entice rather than scare employees through the overwhelming, often, daunting process.

case study, change management, ClearVoice, communication strategy, communication, company culture, customer journey, digital engagement, digital evolution, digital maturity, digital strategy, employee advocate, employee communication, employee engagement, employee experience, employee journey mapping, employee journey, employee retention, employee value proposition, employee voice, employer brand, Engage for Success, engaging managers, EVP, financial services, focus groups, four pillars, healthcare, HR communication, HR, human resources, innovation, Institute of Internal Communication, integrity, internal communication, IOIC, M&A, manufacturing, merger and acquisition, motivation, on-boarding, people, performance improvement, pharmaceutical, productivity, recognition, research, retail, reward, Silke Brittain, strategic narrative, strategy, talent acquisition, trust, values, well-being,Academics and acquisition key opinion leaders, such as Birkinshaw, Bresman and Hakanson, proposed two distinct processes when merging companies looking at how they equally foster value creation. In their leading report, they believed that two sub-processes need to work together for acquisitions to succeed; ‘task integration’ (capability and resource sharing) and ‘human integration’ (employee satisfaction). Consequently, they found that without one or the other, an acquisition is set to fail from the start.

Communicate from the onset through all M&As

Change management only works effectively when processes and communication are enforced at the start of a significant change. During M&As, leaders face many challenges including cultural and stress management, redundancies, HR restructuring, resistance to change and job insecurities. As a result, change management implications need to be considered from the onset before negotiations are finalised.

Below is a collection of articles which focus on the good, the bad and the ugly of M&A’s; looking at what went wrong and what key leaders did, to successfully merge two iconic brands.  From the phenomenally successful merger of Disney and Pixar to the almost, disastrous merger of Yahoo and Facebook; check our favourite accounts of some well-known brands:

Offering a great synopsis; this site gives a collection of mergers which have succeeded or failed miserably when embarking on a company merger:

http://www.rasmussen.edu/degrees/business/blog/best-and-worst-corporate-mergers/

A great article listing some of the worst mergers that have happened in the last couple of years; including legendary Apple and LaLa, Facebook and Instagram:

http://www.zdnet.com/article/worst-tech-mergers-acquisitions-cisco-linksys-apple/

The following website provides thought-provoking video snippets of corporate mergers that have gone wrong:

https://www.phactual.com/9-corporate-mergers-gone-wrong/

An M&A is one of the largest changes companies can undergo and often, staff are susceptible to the greatest of disruptions. The key to success? Communication and collaboration from day one: giving you the power to excel through even the most trying times!

Have your say and tweet us @ClearVoiceComms

At ClearVoice™, we are experts in delivering employee communications and engagement solutions. We inspire and motivate your workforce to increase your company’s productivity and profits. For more information on how we can help with change management when going through an M&A, call or email us today and let us show you how engagement can boost your organisation.

Creating a successful employee value proposition (EVP)

What is an Employee Value Proposition?

An Employee Value Proposition (EVP) is an employment proposal which outlines what an employer expects from its employees and what it provides its employees in return.  Generally, it is the key tool to engage, attract and retain quality talent.

Similarly, to a Customer Value Proposition (CVP) which focuses on why customers should buy into a product or service, an EVP concentrates on why a candidate should choose to work, stay and engage within a company.

It is the unique value which a company can bring not only to its future but also its existing employees.

According to Richard Veal, Head of Towers Watson’s Reward, Talent and Communication Consulting, UK practice:

“Unfortunately, to many organisations the EVP remains a hidden gem that is unshaped, overlooked or not utilised to its fullest extent. Our latest research provides important insights into what makes the best companies – those with highly effective EVPs – different.”

The impact of an effective employee value proposition

Effective EVP’s encompass strategy, communication and engagement.  This can help attract new employees and align personal goals and values with the company’s goals and values (aiding in employee retention).

To develop a strong EVP that is effective and communicates the overall strategy of the company it is imperative to collate and digest current feedback.  Fundamentally, this should focus on how internal and external audiences perceive the company’s brand and culture.

Find out why employees were attracted to your company, why they have stayed and the unique offerings that competitors have failed to offer. It is also important to assess why employees have left or why candidates have turned down a role. A company can achieve a 360° review of its proposition in a variety of ways. These can include employee surveys, focus groups and external surveys targeted at former employees and job applicants; providing more qualitative and quantitative data.

By establishing current and previous feedback, this will help create a more effective and targeted EVP; strengthening the overall company brand and solidifying industry positions.

Strengthen your company with a purpose-led EVP today!

Have your say and tweet us @ClearVoiceComms

At ClearVoice, we are experts in delivering employee communications and engagement solutions. We inspire and motivate your workforce to increase your company’s productivity and profits. For more information on creating a more wholesome and strategically focused EVP, call or email us today.  Let us show you how engagement can boost your organisation.

Internal versus External Communications: The Relationship

Internal versus external communications: making a stand!

Internal versus external communications is a staple topic.  Historically, they have targeted very different audiences; communicating with those who work inside the organisation and communicating with those who do not.  However, the audience focus for internal and external communications is now migrating to a more targeted reach and instead; companies are embracing ‘all’ audiences instead of a targeted selection.

From investors to shareholders, employees to the general public, communication has evolved into a hub of ‘share and display’. Consequently, as companies demonstrate value recognition, the divide between internal versus external communication starts to merge.

Companies that have merged internal and external communications

Companies, including HSBC and Royal Mail, have avoided compartmentalising communications into internal and external by introducing channels that are accessible by  all audiences.  As a result, both companies have increased engagement and strengthened trust in their overall brands.  With over 250,000 employees located across 71 countries; HSBC, has launched a weekly TV programme that aimed to unite and screen their employees inside and outside the business.

internal and external communications, clearvoice, silke brittain, employee engagement, hr departments, engaging strategies, employee voice

According to the Event and Visual Communication Association, a 15% engagement increase was recorded internally as a result of the new channel entitled ‘HSBC Now’; embracing the open culture of their workforce.

Royal Mail created an online platform aptly named myroyal.com giving public accessibility to internal news and recent accreditations, awards, shares, employee feedback and even, an online uniform brochure!  Subsequently, Royal Mail’s latest online channel led to better engagement with their employees as well as their customers.

The dynamics of internal versus external communication

Below are three fundamental tips for creating a unifying relationship between internal and external communication:

1. Communicate & explain: Create an understanding of team responsibility from the onset and this can help to reduce negative impact on departments who are divided.  Schedule workshops or regular meetings with key teams, which aim to inform, listen and deliver key campaigns in the pipeline.

2. Liaise & feedback:  For a crossover of internal and external communication to be successful, implementation of key messages must be shared across the channels.

3. Share & implement: One of the biggest downfalls for organisations who don’t communicate their internal or external comms strategy, is their inability to communicate, share and implement the campaign internally as well as externally.  For employees to actively engage and promote the company message they need to understand, participate and engage in the campaign.

Brief, share, reiterate what you are doing, why you are doing it and how it affects the whole company.

Have your say and tweet us at #iandetherelationship

At ClearVoice™, we are experts in delivering employee communications and engagement solutions. We inspire and motivate your workforce to increase your company’s productivity and profits. For more information on how to step away from internal versus external communications, call or email us today and let us show you how engagement can boost your organisation.