next generation

Is The Family Business Right For You?

Joining the family business is a little different than going to a typical job interview. You may have been told from a young age that this is your destiny. Or you may have been told the opposite: that you will have to start small and prove yourself. Either way, there is an idea that because the business is “family” that you may be a part of it at some point. But do you want to?

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Family Business Succession Planning

Succession planning is a process that every organization needs to be thinking about and working on throughout the lifecycle of the business. However, succession planning in a family-owned business has some unique challenges and considerations. More often than not, more than one family member is working in, invested in, or associated with the business. When your business associates are the same people you celebrate special occasions and holidays with, you need to be even more intentional about not damaging relationships in the process.

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The Generational Divide: Working with Millennials

Recently, several managers have asked for suggestions on how to challenge, motivate, and retain talented Millennials. On the flip side, a few managers have also expressed the opposite problem: being frustrated about working with and managing the Millennial generation. We’re finding that the frustration is typically blamed on generational differences.

We typically hear comments such as, “When I was that age,” or “This Millennial generation doesn’t have the same work ethic that my generation had.” Negative references are made about Millennials who use their smartphones all the time, and their constant use of social media sites. Or that they think they can show up for work whenever they feel like it and demand a flexible work schedule.

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Dear Boss, I Quit! – Making changes for new generations

  • “I can’t stand my boss; I need a new job!”
  • “I wish I had more time off. My family is just as important.”
  • “I know what I’m doing…get off my back!”
  • “I wish my job was more fun…”
  • “Why bother? Nobody listens to my ideas anyway.”

These thoughts run through employees’ minds in almost every company. And the part that’s scary is…eventually they are going to do something about it. As someone managing employees, you may think that everything appears great from the outside. Sales are up, your team has a good relationship with your customers, and you don’t see any immediate problems.

Since there are no major problems, why change? Because even though you don’t see it, you’re about to lose valuable employees! In your eyes, things are fine. But in your employees’ eyes, one of these things could be the final straw…it’s only a matter of time.

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