Imagine you close an M&A deal that will skyrocket your business.
But your top personnel leaves for the competition, before the integration process even starts.
If you haven't acquired a company yet, it will surprise you that this is a bitter reality for many CEOs.
Losing the team members you count on to your rivals may seem unfair.
But you can do a lot to make sure they realize that staying is better for them, and that they don't give in to advances from outside.
And the first step is to set up a retention plan for the most important people who will realize your M&A plan.
In today's episode, you'll discover the different types of leaders your M&A plan depends on, how to figure out what they need in order to stay with you, and how to communicate with your team in a way that makes them ignore lucrative job opportunities in the market.
Show highlights include:
- Why your competitors may poach your best people in the middle of a merge (4:28)
- 5 leaders in your business a successful M&A integration depends on (6:43)
- The “Retention Plan” checklist to keep your most important team members (even if leaving would be “easier”) (11:56)
- A quick mind game to single out your most valuable partners during the M&A process (13:51)
- One simple communication rule that leaves your competition no chance to win over your best people (16:23)