How to overcome challenges in the family business to transcend generations

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La profesionalización y la planificación a largo plazo son clave para garantizar la continuidad de las empresas familiares en un entorno competitivo.

1. Family businesses are a cornerstone of the global economy, but they also face challenges that can limit their competitiveness and sustainability. Family dynamics, when not managed properly, can become an obstacle to business success. Below, we explore the main challenges affecting your performance and how to overcome them.

2. Informal human talent management It is common for family businesses to prioritize family members for key positions, without evaluating their competencies. This approach can create inefficiencies and affect team morale. It is crucial to implement transparent selection processes that ensure that the best candidates—family or external—occupy key positions.

3. Absence of clear disciplinary rules Without a formal disciplinary framework, favoritism and power conflicts can proliferate. Establishing clear rules of behavior and conflict resolution mechanisms fosters a more balanced and professional work environment.

4. Lack of performance indicators The absence of metrics to evaluate performance can generate perceptions of favoritism and demotivation. Defining clear indicators allows the contribution of each collaborator to be objectively measured, promoting transparency and efficiency.

5. Short-term planning Operating without a strategic vision puts business continuity at risk. Designing long-term plans in key areas such as operations, finance and succession ensures stability and sustainable growth.

Conflicts over the remuneration of family members Salary discrepancies between family members can generate tensions and affect organizational harmony. Establishing fair, performance-based compensation systems helps avoid conflicts and fosters a more harmonious environment.

6. Different levels of commitment Unequal commitment among family members can create friction and affect productivity. Defining clear roles and responsibilities ensures that everyone is working toward common goals.

7. Involvement of in-laws The arrival of spouses or in-laws in the business can complicate power dynamics. Establishing clear limits on their participation avoids conflict and protects organizational stability.

8. Family rivalries carried over to work Old disputes between family members can affect decision-making and team morale. Encouraging open communication and establishing mechanisms to resolve conflicts is essential to managing these situations.

“The balance between family tradition and business modernization ensures the sustainability of family organizations.”

The path to professionalization

Striking a balance between tradition and professionalization is vital for sustainable growth. This involves developing the skills of family members and considering the inclusion of external managers who provide new perspectives. Professionalization does not exclude family members, but rather seeks to integrate best practices to strengthen the business.

Family businesses embody the dreams and values ​​of their founders. But, to transcend generations, they must adapt to changes and structure their management. Implementing formal processes not only improves your competitiveness, but also ensures family harmony and business continuity.

Moral: “A well-managed family business is like a leafy tree: its roots are nourished by tradition, but its branches grow towards the future.”

“Sustainability is not the destination, but the path that is built with good decisions and visionary leadership.” –Peter Drucker

Contact:

Twitter: @mariorizofiscal

The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.

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