May I Have Your Attention Please?

"Uh oh, sounds like somebody’s got?a?case of the Mondays!" Office Space

The announcement of a deal typically falls into two categories: 1.) the deal is the worst kept secret, folks are aware that the organization has been shopped around or 2.) the announcement comes as a complete surprise and employees find themselves learning about the deal at the formal announcement and are understandably are caught off-guard.

For deals that have been leaked and/or been openly discussed, employees have been given time to digest what is potentially going to happen to them. In those instances, the acquirer gets in front of the employee population the initial shock of the deal has likely subsided. This is not to say that the announcement is any less stressful, however. When reality sets in, it can still be a destabilizing experience.

In the case where a deal has been kept under wraps or is moving quickly, the first interaction with the purchaser can be a very emotional experience. And, the name of the game in transactions is to limit the disruptions and distractions in an effort to get people focused back on business-as-usual as quickly as possible. But, in order to do that, the purchaser needs to ensure they are meeting the employee on their terms.

Put yourself in someone else’s shoes; you go to work like any other day and a mystery meeting has popped onto your calendar overnight. You all gather in a conference room having no idea what the meeting is about. The room is buzzing and speculation fills the air. This can be an unsettling scenario.

The meeting starts after a few agonizing minutes and you are told that soon you’ll be part of a new organization. This might be welcomed news to a subset but most feel like their world has been rocked. For most people all they can think about are their basic needs, such as:

1.??????Will I have a job?

2.??????Does my manager change?

3.??????What does this mean for my benefits, compensation, time-off and so much more?

4.??????Why is this happening now?

5.??????Will I like the company?

6.??????Will I like the people?

The acquirer must meet the employee on their level and deal with the implications of the announcement. Employees likely cannot process a 45 minute presentation on the new organization’s strategy and how they fit in. Sure, they will sit there quietly but their minds will be racing with silent questions and concerns.

So, if you don’t address the 800 pound gorilla in the room, the transaction starts off on unstable footing. If you completely demotivate the employees, well, then the reason you bought the organization, in the first place, takes a huge hit. People are likely to freeze up and spend more time around the water cooler than actually working. And, if you don’t answer their questions, someone will start making up answers for you. Those will spread like wildfire and then you have completely lost control of the narrative.

"I’d say, in?a?given week, I probably only do about fifteen minutes of real, actual work.” Office Space

So, what to do? Well, it is really quite simple; you must address their basic questions head-on and in a forthright and timely matter. Tell them what you know, tell them what you don’t know (hasn’t been decided) and tell them when they can expect more answers (when decisions will be made and communicated). Manage their stress.

The best formula to do this, in my humble opinion, is take make sure employees are given immediate outlets to get their questions answered. For instance, at the announcement meeting, lay out a timeline and series of options (HR town halls, FAQs, office hours…) where employees can ask questions, get clarification, and it some cases, vent. It’s the new organization’s first opportunity to start forging a relationship and gaining the trust of those impacted. This may seem like 101 stuff, but you’d be amazed at how many organizations stumble out of the gate.

This is where HR can lead. Many Business Units are ill-prepared for the onslaught of questions, emotions and turmoil a deal announcement can bring. In the end, the organization most own retention and engagement but, in the beginning, HR can help get people through the turmoil and refocused on things the business is equipped to address. The symbiotic relationship between HR and the business unit is the secret. Otherwise, you will have a subset of employees that feel unmotivated, frustrated and maybe even hostile.

?“The thing is, Bob, it’s not that I’m lazy, it’s that I just don’t care.” Office Space

No one said this part would be easy. But, if done right, an organization can calm the masses, provide much needed clarity and maybe even begin to establish trust.

“In business, as in life, all that matters is that you do something positive.” Sir Richard Branson

So, do something positive and take control of the narrative before it takes control of you and your deal.

Until next week - Stay strong, stay focused, stay sane and stay the course…__________________________________________________________________________