A restructuring process necessitates clear and direct engagement with stakeholders. An organization needs to tell key audiences what is happening, how it impacts them (or doesn’t) and what they can expect moving forward. Early impressions of leadership will shape perceptions throughout the process, and trust — once lost — is very difficult to regain.
One of the most common mistakes organizations make when preparing a restructuring communications strategy is to view it as a singular event rather than a process. At every stage, there are legal requirements and milestones, but there are also critical moments to provide context and — to some extent — reassurance to employees, customers, vendors, investors, regulators and other audiences. Failing to communicate effectively and consistently can erode stakeholder confidence and jeopardize a successful outcome.
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