Follow up

10. December, 2020

EVERYTHING PREPARED AND PLANNED PROPERLY. BUT HOW DO I TELL MY CLIENTS?

In our experience, the succession process takes at least five years from start to finish. Companies (generally) allow enough time for planning in this regard. We all know that communication is essential in order for a management handover to be successful, but… 

“Should we also inform the media?” “Is it not OK to just send a letter and call it a day?” If these questions or similar ones arise shortly before a management handover, something has definitely gone wrong. Because, in this case, it would seem that no communications concept is in place. This is regrettable insofar as a lot has been invested in succession planning but with apparently little or no targeted thought given to communications. This “oversight” can have disastrous consequences. Why?

Both internally and among a wide range of external target groups, awareness of a management handover triggers the whole gamut of reactions.

This is understandable. After all, everything has been ticking along nicely. People know each other and their most frequent contacts, and often have done so for many years. There is a great deal of trust. And security. The daily business is running well and has settled into an established pattern. In this situation, a management handover means

• A fundamental disruption to “business as usual”
• A question mark over continuity and expertise
• Concerns about whether you will get on with the new person, both personally and professionally
• Uncertainty about having accurate, secure and reliable information
• Often some misgivings or even slight mistrust of the new
  
  

These kinds of situations can cause a company to lose clients and revenue. In order to prevent this as much as possible, it is absolutely essential to draw up a communications concept in addition to the succession concept itself. This should pursue three main goals:

1. Confirming, maintaining and reinforcing existing clients’ confidence in the company
2. Comprehensively conveying and positioning information on the successor
3. Temporarily increasing communications and presence in order to establish a platform for the incipient, planned generation of trust in the successor.

ROUGHLY SPEAKING, THE COMMUNICATIONS CONCEPT SHOULD CONTAIN THE FOLLOWING:

1. Analysis, determination of the situation, definition of the problem (if there are any specific problems)
2. Definition of the goal or goals
3. Definition of the message or messages. One precise sentence for each message: WHAT are we saying? The important thing here is to keep the message consistent and to communicate everything! This is convincing, conveys a sense of security, generates trust and stifles rumours.
4. Determination of internal and external target groups: WHO is saying what to whom and when? Including the key account designations and the timeline of which groups we say what to and when.
5. Action plan
6. Communications budget, including follow-up (please refer to point 3 of the main goals)
7. Measurement of effectiveness

SHOULD YOU USE EXTERNAL CONSULTANTS?

There is no universal answer to this question. It depends on what internal resources and communications expertise are available. An external specialist may be useful as a sparring partner. And they also introduce a fresh perspective. It is possible to bring in external communications expertise for the entire task or for sub-tasks such as brainstorming or drawing up concepts and then handle the implementation yourself. However, this usually places too many demands on your time and know-how.

THE COMMUNICATION OF A SUCCESSION OR A MANAGEMENT HANDOVER PRESENTS OPPORTUNITIES

Whether it’s “staged” or discreet and low key, communications in connection with a succession process should (must) be proactive. This is something that should be managed in a targeted manner on the basis of a clear concept, because announcing a succession or a management handover offers a unique chance to present the company and its achievements in a positive light. The situation provides a rare marketing opportunity to position the company as forward looking and in control in order to ensure continuity and security for clients. This inspires trust.