Getting the right talent in and invested in the business is critical to the success of any organisation. However, this also brings us to an interesting question – what do we need to do to ensure that we have the best people working with us and how do we retain our top talent?
Talent is the top concern for family businesses. The STEP 2019 Global Family Business Survey shows that 16 percent cite the availability of talent as their main worry, ahead of regulation, emerging technology or cybercrime. This doesn’t surprise us. In our long experience of working with family businesses, we’ve seen unique challenges they face in recruitment and retention.
Fortunately, there are many things family businesses can do to strengthen their proposition when seeking talent.