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Additional resources for Human Resources in the Family Business: Maximizing the Power of Your People
1. Our aim is to earn the trust of our customers by providing them with a level of quality and value of both service and products that exceeds their expectations and exceeds that available from the competition. 2. Our aim is that the career of every team member is supported by quality leadership, training, and opportunities for advancement. Our people will work safely and have the ambition, 32 HUMAN RESOURCES IN THE FAMILY BUSINESS 3. 4. 5. 6. 7. enthusiasm, and energy to be productive, efficient, and contribute to an upbeat atmosphere in the workplace.
In later sections, we will discuss how to move toward the best-fitting culture for your firm. The “Historical Influences on Family Values” worksheet is helpful in articulating how a family’s history as well as other historical events have influenced the family and its values. 1 shows how family values inform business culture. Culture may also be shaped by factors internal or external to the family/firm, whether through an influence on the family’s values or not. ” That is, an opportunity-rich environment such as a high-growth market may breed a different kind of culture (often one marked by dynamism and high energy) than an environment with fewer routes to growth.
For example, does it make sense to actively seek family employees? What is the best process for helping family members transition to business roles? How do we set and manage expectations for family members’ performance in the business? The parallel planning model helps family businesses gain clarity on their vision, values, and strategy, which then shapes the desired culture and guides HR practices. 3 ● ● ● ● Shared future vision. A shared, sustainable vision of the future guides the family and the business, balancing the needs of each, along with elaborating on how family ownership can be a strategic advantage.