After a nearly 3 year search and the second time in due diligence it appears I will be closing my first transaction in the next few weeks. Due diligence has been smooth and I am still excited to own the company. The search has been much longer than I anticipated but I was committed to only buying a quality company that had sufficient earnings to replace my corporate earnings without requiring relocation.
I wanted to ask for advice on how to handle the first conversation with the employees when I am introduced. With any company the employees are one of if not the strongest assets you are acquiring so I believe it is one of the most important conversations I will have in my lifetime.
Below is a general outline of what I want to communicate to the employees. My goal being to make the employees as comfortable as possible and eliminate as much fear and anxiety as possible. Most employees are working class with only a high school education and older than me. The worst case scenario would be coming across to them as a young, arrogant, rich, know-it all.
I am partnering with the sellers as they transition to a less active role but the sellers will still be involved. (I'll avoid speaking about ownership but keep saying partnering with the sellers since they will still have a vested interest in the company as long as they have a seller note.)
I'll mention one of the most exciting aspects of the company are the great employees. I'll compliment their commitment to quality and customer service. (Many employees are long tenured and I want to appear humbled and appreciative of their work.)
Emphasize I am not planning any changes to the business.
I was going to touch on my career and family, wife and kids and possibly hobbies. (I want to appear relatable and a real person by mentioning my wife and children)
Tell them I am scheduling one to one meetings with the employees over the next week. (I want to get to know them and them to know me. I want them to be comfortable with the change as much as reasonably possible.)
I welcome any feedback on my outline above and any thoughts people have on sharing their experience being introduced post-acquisition.