Effective communications to both your employees and your customers are vital to success, but knowing where to begin when developing a strategy is not always clear-cut.
In Part 1, we set the stage for the difficulties financial institutions regularly find themselves dealing with when they attempt to merge with other banks or credit unions. Now in Part 2, we’ll dive a bit deeper into the specifics of communication successfully with your staff to ensure they’re on board and all in.
Aligning your staff
What good is a merger strategy if your employees aren’t on board? As we’ve said, mergers can result in employee turnover if not managed correctly. Employees who aren’t adequately informed often feel anxious about what will happen next and wonder if their positions are being replaced or eliminated. Upset employees can have a negative impact on your customers’ experiences with the bank. An effective and transparent communication plan can help mollify these risks.
Effective internal communications should cover:
There’s no doubt – communicating effectively with your staff is absolutely crucial to merger success. The only thing as important is communicating effectively with your prospects and customers. And that’s what we’ll take a look at next time.
Download the complete copy of our “Bank Merger Communications” whitepaper to learn why communicating effectively with your customers is just as important as communicating with your employees, and consider some proven tips for dealing with internal matters.
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