B E N C H M A R K I N T E R N AT I O N A L
HOW TO ANNOUNCE A MANAGEMENT TRANSITION
Benchmark International
HOW TO A NNOUNCE A MA NAGEM ENT T RANSI T ION
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When a company undergoes a management transition following a merger or acquisition, uncertainty can permeate through the entity’s stakeholders. From suppliers to employees, many will undoubtedly wonder about their place in the new arrangement, and even management can experience feelings of failure if the business is being bought out. As such, it is vital that the messaging surrounding this transition is thoughtfully planned and communicated to ensure a seamless process.
EMPLOYEES A major change, such as an acquisition, can stoke fear in employees’ minds and make them likely to be upset and worried about their future with the company. The business leader must be reassuring in their communication and handle all queries and concerns in a calm manner. The timing of the announcement also has to be perfect. Announcing too soon can disrupt performance, while waiting too long can increase the risk of information leaks and even greater damage.
Clients will understandably show concern at the change in ownership, but they too must be informed of the transition. Competitors might see this as an opportunity to lure some clients away, so it is important to maintain good relationships throughout this process. Clear and concise communication is vital, as is an assurance that service delivery will not be disrupted during the change.
Benchmark International
CLIENTS
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