Family businesses are the heart of many economies, and their significance extends beyond just the economic sphere. These enterprises blend heritage and innovation as they strive to maintain traditions while adapting to the modern market demands. In mid-September, we participated in the International Family Business Congress at Chateau Bela, organized by the Family Business Institute, where we had the opportunity to discuss key topics that concern these entrepreneurs and business owners. The main message was that family businesses face various challenges that require not only internal resources but also external competences.
The Complexities of Family Businesses
Family businesses often encounter challenges stemming from their unique dynamics. Many of them are trying to find solutions to common issues such as:
- Talent Shortage: Family businesses often struggle to find enough employees with the necessary professional skills, which can hinder their growth.
- Passing the Business to the Next Generation: Transferring the business to the next generation is one of the toughest tasks owners face. Many worry that their children may not be interested in continuing the family tradition.
- Adaptation to Modern Challenges: With increasing competition and technological changes, family businesses are forced to adapt, which requires a shift in organizational structure. Or onboarding new skills which will participate in their knowhow legacy.
The Importance of Open Communication
One of the most important findings from the congress is that open communication is key to addressing these issues. Family businesses need to learn to express their concerns and seek help where necessary. Our experts, Martin Huba, Jakub Sedláček, and Christophe Beaujard, emphasize that family businesses should consider external professionals who can bring new ideas and perspectives, potentially strengthening their competitive advantage.
Addressing Complexity with External Help
Christophe Beaujard, Senior Project Manager with extensive experience in family businesses, states: “Engaging external experts can be a crucial step for the growth and development of the organization. External experts can provide essential skills that families often lack.” Jakub Sedláček, Staffing Director CZ&SK, adds: “Family businesses should recognize that hiring specialists does not threaten their value system but rather presents an opportunity to reinforce it.” Martin Huba, Managing Director CZ&SK, reminds: “the willingness to embrace new approaches and expertise can help family businesses survive and thrive in a dynamic business environment.”
Supporting Family Businesses
Our staffing agency, SYNERGIE, recognizes the importance of supporting family businesses, and we strive to provide tailored assistance. We help them identify key areas for improvement and offer access to talents that can fill crucial roles. We focus on three key points:
- Talent Recruitment: Our expertise in recruitment processes enables family businesses to find qualified employees who bring new skills and insights.
- Organizational Structure: We assist companies in reevaluating and optimizing their organizational structure to effectively respond to current challenges.
- Passing on Family Tradition: We provide consulting that helps families plan successful transitions of the business to the next generation.
A Message for Family Businesses
Family businesses face numerous challenges, but with an open mind and a willingness to embrace external support, they can transform their traditions into successful enterprises. Our mission is to help them grow and thrive in this demanding environment.