How do I announce my acquisition to employees?

by a searcher from Stanford University - Graduate School of Business

2 years ago

We're about to close on a plumbing business where the owner has been there 40 years and his name is on the truck (so central to the business's identity). 

Am looking for advice on how to announce the sale to his employees (there are ~40). Our current plan is to call an All Hands where we announce it together and then arrange for 1:1s with everyone over the next few days so they can sign their new employment agreement (everyone is getting a retention bonus, some people are getting raises - no one's comp is going down). 

Any good resources/articles you'd recommend for handling business transition announcements/messaging? Any watch outs or things to avoid?

7 likes
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20 comments

searcher from Harvard University - Harvard Business School

This is very timely as I am about to have a conversation about this with the seller. Thanks for sharing.

2 years ago | like reply | 0 likes

professional from University of Dayton

Great plan and comes down to execution. The 1:1s are the perfect place to set the tone for your ownership of the business. It is important to listen more than speak and make sure that you've addressed or communicated back to them on any points they've raised. This will start to establish the foundation for your interactions going forward. I think it's a good move to have the old owner involved in the town hall but carry out the 1:1s yourself so you can create the relationship with individual and not rely on the owners relationship (positive or negative).

2 years ago | like reply | 0 likes

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