Evolution and the key role of communication

From leading mergers and acquisitions on behalf of clients, to trailblazing Ensors’ next phase of growth as part of Azets, I’ve experienced both sides of the deal and can testify to the value of nurturing stakeholder trust.

A business is required to adapt and evolve throughout its lifecycle to ensure success. Whether that’s through a change of leadership, business direction or additional funding, or through global advancements in tech, societal shifts and increased global interconnectivity – it requires an agile mindset.

As all business owners are well aware, your greatest asset is your people, and it’s vital to maintain an open line of communication throughout business evolution.

Define your key principles

As a professional services firm looking for a partner to help grow our offering, one of our key considerations was the cultural fit. We know that if our staff are happy, they will provide a positive experience for our clients. This understanding ultimately prioritised the communications around the growth opportunity as being ‘internal before external’. Bringing our colleagues into the deal as soon as possible allowed for questions to be shared and trust to be built.

Once initial trust is established, it’s important to continue an employee-centric focus by considering ongoing channels of communication. The more familiarity and transparency you can provide, the better staff will feel about coming along on the journey. Designating points of contact that many of your staff will be aware of, and providing genuine updates, will help to foster an open forum.

We are keeping existing channels – such as our monthly regional update, which is delivered live to all colleagues – open as there is an even greater need to be communicating with empathy now.

Implement a communications plan

How that information is communicated should be detailed and documented in a clear and concise communications plan.

It is important to identify each stakeholder group and recognise the requirement for tailored communications. Think about your key messaging, how it could be received and the best mode of delivery such as email, letters or phone calls.

Ultimately, the plan should be a collaborative document that encompasses the who, what, where, when and why of all forms of communication.

It’s important that the language used is clear and precise, using limited business jargon and providing opportunities for an open dialogue. Clarity is what builds trust and authenticity, and it helps to avoid assumptions and ambiguity.

In my experience, being human is what establishes the initial trust, and being present allows that trust to grow. We may not have all the answers initially, but by keeping an open dialogue we’re continuing on this journey as a collective.