Employee engagement may be dismissed by some as paternalistic and weak, but it is the major weapon in a family business that public or private equity-backed firms struggle to replicate
Employee engagement may be dismissed by some as paternalistic and weak, but it is the major weapon in a family business that public or private equity-backed firms struggle to replicate
On a recent trip to Australia I met an entrepreneurial couple who talked about the annual cash flush they provide to their children. When digging deeper the conversation touched on topics of ‘how much is enough’ and ‘how to keep them responsible citizens in their communities despite the money’. In our advisory work we often get involved in such discussions. Conflicts in families mainly centre about two issues: power (who leads the family company) and money (who gets how much access to cash). Let’s focus on the money for now.
Operating businesses are often the lifeblood of family offices and most offices can trace their wealth back to a successful enterprise. So one lesser-lauded finding from the Global Family Office Report 2015 that caught my attention was the number of family offices that still had an interest in an operating business.
What purpose does your family’s wealth serve? In our Q&A series, Emily Griffiths-Hamilton explains how her ‘family bank’ uses fun to focus on human and intellectual capital (as well as financial assets) and pass on the right values to the fourth generation.
What purpose does your family’s wealth serve? In our Q&A series, Emily Griffiths-Hamilton explains how her ‘family bank’ uses fun to focus on human and intellectual capital (as well as financial assets) and pass on the right values to the fourth generation.
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