Mergers can be tough on leadership and employees alike. After a merger or acquisition, the organizational structure of the company the employees have become accustomed to can change in a flash. Change is typically off-putting to most people. Employees may become scared that they will be no longer needed or will have to impress a new boss. All of this can lead to a lot of stress and anxiety that can slow productivity or even paralyze your work force. Therefore, it's crucial to have a plan to manage anxiety (aside from Xanax) otherwise your team will be set up for failure.
Communication is one of the most important ways to manage merger anxiety. Let your employees know what changes will be made as soon as possible. A lot of the fear of changes from mergers is due to not knowing exactly what the changes will be. Letting your employers know exactly what to expect can help them cope with the changes sooner, minimizing anxiety. If there is no communication, it's human nature for people to come up with the worst possible scenario in their minds, thus maximizing anxiety.
It's also very important to be as honest with your employees as possible. If your company is the one being acquired, it is likely some employees will have to be let go due to redundant positions in the two companies. It is also likely some people will have to change their role or take on additional responsibilities. Being up front with your employees you feel will be most affected will give them more time to prepare. It will also lend to a better opportunity for all of you to manage the change, allowing for a smoother transition.
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