Family Business Dynamics
Vanessa Moon in conversation with Anita Brightley-Hodges, Board Advisor and Non-Executive Director of family-owned companies
At Moon Executive Search, we have had extensive experience of working with first, second and third generation family businesses, advising on campaigns, board dynamics and talent. Vanessa met with Anita a few years ago and they have collaborated on several projects from joint events to advisory sessions.
Vanessa explains, Anita and I talked about a number of key areas to consider for family businesses, and she says her top tips are:
Create the right systems for managing family dynamics and succession.
Have open communication between family members, the Board and members of staff.
Harness your ‘family business brand’ for commercial advantage.
Develop an impactful and meaningful legacy.
Look at Succession Planning.
Guide families from one generation to the next by working through any relationship issues, communication problems or tension between family members.
Mentor all family members to help them understand their purpose and responsibility as part of the family business.
Identify what each family member can bring to the party.
Look at what unites the family from charity and community to legacy and heritage.
Identify and advise on the best governance structures to enable the business and family to operate in harmony.
Look at your networks from family councils, management boards, search and advisory firms, shareholders forums and more.
Anita Brightley-Hodges
We discussed that investing in brilliant, external, and independent people will help to keep a business focused and build a family business legacy which the family can be proud of.
Vanessa comments:
“As many family-owned concerns are currently investing in appointing external Non-Exec Directors to look at process, supply chain, and their governance structure, Moon Exec Search has become increasingly busy in this area.
As Moon is first and foremost a search firm, our strength is in our ability to pinpoint and seek out candidates who are not currently active in the market, which we do through a targeted search campaign. We are finding this specific targeted approach is proving very useful and opportune in today’s candidate driven marketplace.”
For more details about our work in this area, please see:
https://www.moonexecsearch.com/our-services/2018/10/25/non-execs
About Anita: With over 30 years in business, Anita has met and befriended many owners and entrepreneurs of all sizes and across all sectors. Her network of specialists within the legal, banking, investment and financial ecosystem, industry leaders and government, influencers, research and in education are priceless. Her connections are both UK based and global.
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