Developing Next Generation Emotional Attachment

We’ve been involved in some recent research on what develops emotional attachment for the next generation. We believe the following tactics are all worthwhile. We find that their effectiveness is in the priority by which they are listed. In other words, the first, best idea is early internships.

  1. Internships in the family business.
  2. Personal ownership of some shares.
  3. Interactions with family business stakeholders.
  4. Family harmony.
  5. Frequency informal, informational “tweets”.
  6. Excellent governance.
  7. Educational workshops about the family business.
  8. Expectations by parent(s) to join the family business.
  9. Employment exchange with another family business.
  10. Work experience outside the family business.
  11. Parent(s) is leader of the family business.
  12. Formal reports and communications forums.

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