This may be one of the hardest decisions to make when you are part of a multi-generational family business, especially if you have a C-Suite or leadership position, are an owner, shareholder, or all three. But it does happen. For many, this is an unfathomable crossroads and one you may believe is impossible. Questions keep […]
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Benefits strategies for multiple generations are essential in today’s diverse workforce. With employees ranging from Baby Boomers to Gen Z, organizations must develop strategies that cater to the unique needs and preferences of each generation. While each generation may have different priorities and expectations when it comes to benefits, there are also common themes that
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Developing a family business charter helps individuals with differing points of view learn to work together in the spirit of collaboration toward a greater good — the health of the family and the business. Designed specifically for families in business together, a family business charter documents the shared understanding between the owner/founder and family members
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Featuring:Dr. Thaddeus O’Brien, O’Brien & AssociatesTobi Gold, Skilken Gold Real Estate DevelopmentFritz Reitter, Reitter Stucco & Supply Co. Inc.Kevin Schoedinger, Schoedinger Funeral and Cremation Service Understanding Generational Issues in Family Business The generations that launched many of our family businesses are living longer, resulting in more generations being involved in family business at the same
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Seven In Ten Advisors Say Navigating Interfamily Dynamics Is The Hardest Part Of Estate Planning For HNW Families Key Private Bank’s Advisor Poll found that having no plan in place is the leading estate planning mistake Key Private Bank, the wealth management arm of KeyCorp (NYSE: KEY), released the results of its latest advisor poll,
Each year, our Economic Outlook survey reflects the challenges that family business leaders have in finding and hiring qualified employees. Conway Center service provider Mike Devine of Devine Consulting addresses this issue in a blog post, The Difficulties of Hiring for a Family Business: When one looks at the hiring data, new hires fail 89%
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When you hear the words “succession planning”, what comes to mind? In most family-owned businesses, succession planning primarily focuses on developing the next generation of leaders, but what if there was more to it? Finding that next generation leader is a challenge and makes succession planning an essential exercise in the survivability of the business
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5 Essential Questions in Life and How They Relate to Family Business by Bea Wolper, Emens & Wolper Law Firm The Women in Family Business Peer Group at the Conway Center for Family Business discussed the ‘5 Essential Questions in Life’ delivered by Dean James Ryan as part of his commencement speech given at the
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By Steve Harmon, Managing Director of Spartan Logistics Can there be a connection in the workplace? At Spartan, the answer is YES! Being a family owned company, we tend to do things a little bit differently. We’ve thrown the rulebook out the window by creating a company that not only values our team members but also
The Conway Center’s former Director, Becky Blatt, facilitated an educational program: “Managing Family Business Relationships: Siblings, In-Laws, and Spouses, Oh My!” She ended with this poem, which resonated with many of our members. Family Business by Nadir Godrej, Managing Director of Godrej Industries Nadir Godrej, is the leader of a highly successful family business and also a
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