Success Stories

Aadhar Housing Finance Limited
Industry: BFSI
Type of Work: Internal Communication
Smoothening a merger through an intensive communication strategy
About Aadhar Housing Finance (AHFL)

Formed with the merger of Aadhar Housing Finance and DHFL Vysya Housing Finance, AHFL is one of the largest housing finance companies in India today. Servicing the home financing needs of the weaker sections of society, AHFL endeavours to empower underserved millions to own their first homes. AHFL is backed by the World Bank through the International Finance Corporation (IFC).

Visual highlights of the project
The Challenge

The merger of Aadhar Housing Finance and DHFL Vysya was a strategic move for the parent company – Wadhawan Global Capital (WGC).

Both the organizations were focused on mutually exclusive locations and catered to low income groups. The merger was aimed at creating a stronger brand for the organization, leveraging their consolidated pan-India presence, enabling better servicing levels for customers and enhancing growth opportunities for employees.

As with any merger, the proposition was met with apprehension from various quarters, especially employees and customers. With the two culturally-diverse companies beginning the process of the merger, a well-thought-out communication plan to address varied stakeholder concerns in a positive and consistent manner was critical.

The Solution

Rite KnowledgeLabs advised the client on creating a 3C (Clear-Consistent-Continual) communication strategy for the merger.

It outlined the timing of the announcements, leaders who will be responsible for communicating with specific audiences and the key messages. The strategy encompassed various communication pieces for the pre-merger, merger and post-merger phases for a six-month period. A compelling narrative behind “why” the companies were merging and what this would mean to various stakeholders including customers, employees, partners and the media was built.

The Approach

Rite KnowledgeLabs crafted an emotional theme “One Aadhar” to connect to stakeholders on a emotional level.

It helped in making the merger communication relevant and memorable whilst resonating with all the stakeholders. To address questions from across the stakeholder groups, FAQs addressing employees, customers, partners, media, etc. were created to avoid confusion and uncertainty. Consistent language & messaging across executives and managers, helped alleviate doubts & concerns, dispel rumours and keep the morale high. An employee newsletter was conceptualized as a platform to house the merger communication and was continued post the merger. Overall, continued communication through various channels helped endorse the rationale behind the merger in a transparent and consistent manner.

THE RESULTS

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The communication paved the way for internal acceptance of the merger and smooth integration. The merger was completed successfully over a six-month period. The communication initiatives proved successful in keeping the employee attitudes positive towards the changes brought about by the merger. They helped minimize post-merger employee and customer attrition (numbers?). Overall, the employee and customer feedback through the transition was positive.

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