A proposed marriage, where one partner might be on the fence or even openly hostile to the prospect, can be a lot like a merger or acquisition – a topic explored by a panel during an April 8 professional development program presented by IABC New Jersey. The program, “Mergers and Acquisitions: Strategic Communications Planning,” presented by IABC NJ on April 8, at Fairleigh Dickinson University.

An audience of communications professionals and students from FDU’s corporate communications program were entertained and informed by a panel of three M&A experts, who also engaged in a lively Q&A session following their presentations.

It’s important to remember there’s a difference between a wedding and a marriage, said panel moderator Kristina DiPalo, founder and principal, Elysian Communications LLC. Similarly, a merger or acquisition culminates like a wedding but the culture and relationships involved in the new union must continue to be cultivated, as in a marriage. She identified four stages of a merger or acquisition:

• Launch Preparation – the 60 days before the countdown.

• Countdown to Close – the final 30 days before closing.

• Working as One – the first 60 days following closing.

• Operating as One Culture – the 60 to 180 days following closing.

“Don’t over-focus on Day 1,” DiPalo said. “Each stage is equally important. Sometimes, companies ease up on the gas too soon after a merger or acquisition. That’s the period to lean in, to communicate more to maintain continuity.”

A merger or acquisition, she continued, “is one of the few times you have the complete attention of senior leaders, so take advantage of the opportunity to strengthen your communications functions. Communicate through a range of media … and experiment with social media. Find as many opportunities to be transparent and build trust.”

Panelist Stacy Quinn, director of internal communications, Black Rock, said it’s essential to give employees the opportunity to be part of the conversation by engaging them in two-way communications through a variety of media, including:

• An online Q&A site

• Various events and gatherings

• “Rounding,” where senior leaders make the rounds by walking through work areas and talking with employees about their concerns and listening to their feedback

• A candid senior leader blog

“Be sure to provide timely answers,” Quinn said. “And leverage the feedback to improve the transition.”

In addition, she suggested the newly combined organization  think about its employees into distinct audiences and identify the transition’s likely emotional impact on them – from rank-and-file employees who might lose their jobs and their understandable apprehension to longtime employees who, fearing dramatic change, might need help moving on.

Panelist Stuart Katz, president and executive producer, Elm City Communications, offered some key steps on “how to avoid a migraine,” including:

• Manage expectations related to speed, quality and cost

• Determine the approval process for communications – and get it in writing

• Use technology to simplify the process. Wistia, for example, is useful software to garner feedback for a video before its release when preparing, for example, to communicate a merger or acquistion. [more needed here perhaps … such as, a pre-merger video, or a Day One video]

By exercising transparency, Katz said, “Employees will understand the thought and rigor used to drive the transition.”

In summing up her thoughts, DiPalo said, “Ultimately, employees and customers are not only the most affected, they’re the ones who will decide if the merger or acquisition is a success or failure.”

Click here to view Kristina DiPalo’s presentation

Click here to view Stacy Quinn’s presentation

Click here to view Stuart Katz’s presentation