Recent surveys have unveiled a resounding consensus among family business leaders: the imperative to explore untapped territories ranks among the top priorities for strategic evolution.
The article, “Why Next-Gen Leadership Transitions Fail,” describes how full buy-in and holistic commitment to a solid succession plan are essential for success. Denise Federer explains how trust, cooperation from all parties, and transparency will help ensure a smooth transition.
The article, “Preparing the Next Generation: Is it really necessary to work outside of the family firm?” the author discusses the typical advice of requiring next generation leaders to work outside of the family firm for external experience.
For family and privately-held businesses, wealth generation is woven throughout their prosperity, legacy, and future. Recent insights reveal that for many of these businesses, not only does the pursuit of financial wealth define achievement, but also their legacy building. Let’s explore the strategies and considerations that support the continued growth of wealth within family businesses, while also exploring its significance to the family.
The article, “Research Reveals Claw-Back Bonus Schemes Can Lead to Big Losses,” debates the pros and cons of “loss-framed” bonuses, or those pre-paid to sales teams and then “clawed back” if targets aren’t met.
The article, “Sharing Leads to Caring: Personal Details Help Cement Coworker Relationships” shares the surprising findings from a recent study published in Organization Science on the macro view of learning personal information about colleagues.
The article, “Ready to Mentor a Senior Colleague? A Roadmap for Reverse Mentoring” discusses what reverse mentoring is as well as the pros and cons of mentoring colleagues in senior leadership roles.