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Family Governance and Engaging the Younger Generation

Engaging the Younger GenerationEven as they grow older, it’s always a challenge to keep the younger generation engaged. Without seeking family governance, you may lose them from the brand. While some owners may see that as a blessing, you shouldn’t discount them right away. Younger members offer a unique perspective that many family business firms need.

It’s best to try and engage them as you would any client or employee. Unfortunately, some brands take that mindset too far, burning them out instead. Positively People understands what can help make family business succession easier. Below are some helpful tips for keeping the younger generations interested in your brand.

Offer Younger Members Responsibility

Some family businesses walk a fine line between engagement and child labor. However, giving younger members some responsibility goes a long way towards feeling accepted and a part of something. If you have a unique building or plant, consider offering guided tours. Young teens and older adults who enjoy public speaking thrive in these types of roles.

When your company has enough family members, consider having a children’s area. Those with babysitting skills can help run it until they can take on other duties. A family business advisory service can also assist with reaching your younger members. Allow our experienced agents to engage the next generation of your firm.

Make Meetings Accessible

Some dealings require privacy, but not all of your meetings will. That is especially true around holidays and shareholder events with extended family. Review which meetings require a boardroom and which can include a playground. You may even make it a combination of business meetings and a family BBQ.

While not all companies will have as many children, it creates an inviting atmosphere. Larger families will likely welcome the excuse to get everyone involved. Including business meetings as part of a family vacation could also act as tax deductible. Research ways of mixing the corporate side and family side together to maximize your engagement.

Start Family Business Succession Planning Today

Even if they are children now, it’s best to start planning today. The more engaged and invested they feel, the more they will later on as well. While not everyone will pursue the family business, many will want to participate. It’s essential to keep them excited about what the firm does and where it’s headed into the future.

Starting as children, they should learn all there is to learn about your company. As they grow, they will understand more about the daily operational needs. Try not to shield them from the negative aspects of the company as well. They need to have an unfiltered look to decide if they will pursue it in their future.  

Summer Internships

Teens and young adults will always need internship opportunities, so why not off one? While it’s hard to ignore nepotism, you also don’t have to make them executives. Entry-level positions are a great way to teach them the business without unearned promotions. It also introduces responsibility on an age-appropriate level without overwhelming them.

Engagement should reach the younger members on an emotional basis. Keep them invested in the family business’ future with Positively People. Contact us today to help engage your younger members. Learn More