With the GenX and Millennial generations firmly established in the workforce, a fresh mindset is continuing to pick up speed and take hold in many family businesses. Women in business families are rising into leadership roles as the business value that can be achieved through a diversity of views, experiences and management styles becomes increasingly evident.
This more inclusive leadership mindset isn’t idealistic or simply the result of changing demographics and the influence of Millennials, however. It’s also extremely pragmatic. As several studies have shown, women in senior roles generate better business performance, which is believed to be the result of their superior governance practices and overall effectiveness.1
As my colleague, Daniel Trimarchi, Director, Family Business Global Network, KPMG Private Enterprise, pointed out in the recent podcast “Understanding Perspectives and Redefining Gender Roles in the Family Business”, moderated by Orbis Terra Media CEO Ramia El Agamy, 50 percent of the population is female, so how can it possibly make good business sense not to draw on the talents and skills of female family members for the good of the family business?