We’ll Never Do That Again: Taking the Temperature of Your Family Business Culture

We thought we had pretty thick skin until we received responses from our Employee Opinion Survey.

When was the last time you asked your employees how they thought things were going? We had just come off an unsuccessful union organizing drive in our family business by a small faction of disgruntled employees. Even though the union wasn’t voted in, it made us aware of some employee issues that needed attention to improve the culture of our company.

When the labor issue was over, part of the healing process was how to move forward and mend relations with the affected employees. We had hired an outside labor management firm to guide us through the unionizing campaign. The management firm used two tools to evaluate the employee sentiment. The first was a comprehensive wage survey to benchmark our wages against other companies in the area.  More…

10 Signs You Might Need a Family Meeting

Family Meetings improve family communication and help to get everyone on the same page. These meetings aren’t just for resolving conflict and sensitive family issues. They are also an effective method for discussing the strategic direction and vision of the business from the family’s perspective before sharing it with others within the company.

10 Signs You Might Need a Family Meeting

  1. Avoiding sensitive family issues hoping they will go away
  2. Personal issues are creeping into the business
  3. Seldom discuss the future direction of the business
  4. Avoiding succession planning and ownership transition discussions
  5. Struggling with the division of responsibility between family members
  6. Need a policy for family employment beyond current members
  7. Dealing with the need of hiring non-family managers for the first time
  8. Struggling with compensation plans for family members
  9. Torn between being a lifestyle or professional business
  10. Disagreement on growth rate and need for outside financing

If you have some of these issues in your family business, don’t worry, you’re not alone. Research shows that 90% of family businesses don’t hold family meetings. Why not be a part of the 10% Club who do.

 

 

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