Next generation engagement

Happy, curious, conscious and engaged (to be defined by each family) next generation members are important to the successful multi-generational family business. That is whether they are going to work in the business, sit on the board, be involved in family philanthropy and/or act as responsible owners and ambassadors. Regardless of their role in your family business, this is something that happens most constructively when it is prioritised and sufficiently resourced (finance, time, attention etc).

There are many ways of going about this, of course, and each family is different. My services in this area are tailored to what the family and business want and need. I also help each family to think through what there needs and desires are from and for the next generation. And then of course, I listen to the next generation. As with anything in family business, it starts with communication.

Here are some of the ways in which it might be helpful to work with your next generation.

I help foster relationships between the next generation as a group. Social cohesion is important. People make better decisions together if they know, respect and like each other.

I help prepare the next generation for ownership of your family business.

I create opportunities for the next generation to develop an entrepreneurial mindset and/or find the best way to contribute to the family enterprise through focusing on individual skills and enterprise needs. We will consider the whole enterprise as an opportunity for engagement and contribution.

I mentor individual next generation members, help individuals find their way in life whether that is working in the business or pursuing a career elsewhere and I curate opportunities for the next generation to gain knowledge and build a peer network outside the family.