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How Family Dynamics Play Out at Work Are you the How Family Dynamics Play Out at Work Are you the “workplace parent,” the office “problem child,” or your team’s “golden child”? According to Bowen Theory, emotional systems affect our social relationships — both at home and at work. Host Morra Aarons-Mele speaks with Kathleen Smith, an associate faculty member at the Bowen Center for the Study of the Family, about how family systems theory can help us better understand leadership and relationships with coworkers. Full article https://hbr.org/podcast/2021/11/how-family-dynamics-play-out-at-work Actionable Generational Wealth Succession For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there. #familyoffice #wealthmanagement #conflictresolution #strategicmanagement �#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
Family Business - blood non-blood Unless your fam Family Business - blood non-blood Unless your family business is a "mom & pop corner store" (which is more akin to owning a job than owning a business anyway), you will need to have a mix of 'blood' and 'non-blood' people working in it. As any business matures and grows, there becomes a need for professionalisation and systemisation. While owners may put a high value on the people in the business (especially family), the true value created in any business is through systems. A business that cannot function as well without family members is not worth very much to a potential buyer. Family or non-family CEO? That is a huge question for many family businesses, especially as the founder generation seeks to retire. Even if there is a family member who is willing and able, is that what is best for the business itself? For a non-family CEO to succeed in a family firm, they must understand the values of the family. The family also needs to be able to articulate those values to the CEO, and monitor their adherence in some way (which is by no means simple). The challenge for any incoming CEO of a family business is to maintain and respect the ingrained culture, and at the same time drive the business forward. It is important to create an atmosphere of inclusion and purpose, and ensure people outside of the family are also seen and heard. In larger business with many family members involved, possibly from multiple branches of the family and multiple generations, the kinship tensions are multiplied to a great degree. It's important for family members to retain their own identity and not become overly subsumed within the family enterprise and its mission. Having people outside the family circle who can provide objective feedback - whether as advisors to the board or mentors to family employees - can be very helpful. Actionable Generational Wealth Succession Access my Familosophy newsletter https://DavidWerdiger.com. #familyoffice #wealthmanagement #conflictresolution #strategicmanagement �#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
The Problem with Boomers A while back this viral The Problem with Boomers A while back this viral meme swept the internet. "OK, Boomer" is/was the response of younger people to complaints by older people about their behaviour and attitudes. Readers of this newsletter may know my attitude to the whole "generation wars" narrative - it's a load of crap and we shouldn't get caught up in it. Older people have been complaining about younger people for as long as there have been multiple generations on this earth, and research points to the reasons why we do this (see link below). However, there is one thing commentators haven't picked up about the "OK, Boomer" phenomenon. The problem with memes is that they are short, simplistic, and importantly they are conversation stoppers. When we throw up a meme, it's like saying "I agree/disagree, here is my curt response, and there is nothing more to say on the matter". When it comes to intergenerational conflict, that is the worst way to respond, because what we ought to be doing is building bridges and enabling better communication and understanding between groups of people who look at the world (and express their opinions) in very different ways. This can't be achieved with meme wars and throw away lines. The issues are complex and nuanced, and require bilateral efforts - yes, both generations need to work toward communicating better and understanding each other. It's not easy, it won't happen overnight, but with effort, it can happen. Q: (Directed at older family members) Do you know what a meme is? Do you know why younger people like to communicate using memes, emojis, and social media? (Directed at younger family members) Can you imagine a time before the internet and social media? What do you think your parents and grandparents were like when they were your age? How do you think they related to their parents back then? Actionable Generational Wealth Succession For more in-depth commentary on family and business conflict resolution, access my Familosophy newsletter archives https://DavidWerdiger.com. #familyoffice #wealthmanagement #conflictresolution #strategicmanagement �#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
How to Manage Intergenerational Wealth Transfer S How to Manage Intergenerational Wealth Transfer Since the pandemic’s start, baby boomers are retiring at double the rate, around 20,000 each day. With this significant increase, plus the eventual $70 trillion wealth transfer from this group, is your firm prepared for what comes next? Full article https://www.wealthmanagement.com/white-papers/how-manage-intergenerational-wealth-transfer Actionable Generational Wealth Succession For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there. #familyoffice #wealthmanagement #conflictresolution #strategicmanagement �#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
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