Mergers and acquisitions (M&A) have been increasingly frequent across many industries. They’re an effective tool to drive growth and strengthen an organization’s market position, especially in challenging business climates—and these are challenging times. That may be why 92% of respondents to Deloitte’s survey on the future of M&A expect deal volume to either increase or stay the same over the next 12 months. Clearly, M&A are here to stay.
But too often, M&A deals result in disappointing outcomes. Why is that?
Professor of Marketing at Rice University, Vikas Mittal, suggests that it may come down to leadership’s tunnel vision—focusing only on the deal’s financial aspects and operational efficiencies while forgetting about its customers. We agree. But we’d also add employees to the mix.
Why CX and EX are Essential to M&A Success
Customer satisfaction is a reliable predictor of sales success, and it often relates directly to the employee experience (EX). Countless times, research has shown that fostering both positive EX and customer experience (CX) leads to better financial outcomes. Happy employees lead to happier customers, and vice versa. When employees must constantly deal with unhappy customers, morale can drop while stress levels rise. So, especially when a merger or acquisition shakes things up, companies should keep an eye on their customer and employee satisfaction.
Pulse Surveys as an M&A Tool
Taking pulse surveys of customers and employees–both existing and new–before, during and after the M&A process can help organizations track the health of their CX and EX.
Before the M&A process, this tool can uncover expectations (good or bad) so you can plan accordingly with your eyes wide open, not your head in the sand. Continue pulse surveys during M&A to get real-time feedback on how your organization is doing and to keep open communication with both constituents. You’ll be more likely to discover issues early and can make nimble adjustments. You’ll also know whether expectations are being met (or even exceeded). Many companies choose to continue their survey program after a successful transition, fostering great CX and EX and maintaining retention.
“By proactively taking this step, firms are significantly ahead of their competition in creating and fostering an environment where clients and employees feel heard and valued,” says Ryen Salo, Direct of Customer Success at ClearlyRated. “Getting out ahead of any unforeseen issues and gaining a better understanding of what’s going well for clients and employees during the transition of an M&A will only lead to a stronger and more collaborative culture in the long run.”
ClearlyRated’s M&A Pulse Surveys
It’s clear that CX and EX play a key role in any successful merge. Take pulse surveys of affected clients and customers with ClearlyRated’s M&A Pulse Surveys. As long-time experts in EX, CX and related survey programs, we’ve specifically designed our M&A Pulse Surveys to deliver meaningful insights and peace of mind. We deliver guidance and assistance throughout the process. From planning survey questions and fielding responses to analyzing results and taking action, we’ll help as you plan a successful integration of your team and your customers.
If you’re ready to get started, contact us today!
