UPFRONT How I hired mom

Now here’s an interesting thought from US-based futurists The Herman Group. Instead of bringing your kids into your business, go work for them.
For generations, young people entering the workforce worked for their parents. In most cases, in some sort of family business. In other arrangements, entry-level workers would start at jobs at the same place of employment where their father or mother worked. It was good way to get started in career.
But with more career choices available, family connections became less important. Kids joined companies where there was no family relationship at all.
But the pendulum has, according to THG, swung back and family connections are again becoming part of the employment picture. This time, however, it is the older generation working for the younger high achievers. Parents, aunts and uncles, and other members of the extended family are working for their kids.
Smart business leaders hire their parents, particularly if their elders have experience in the sector. Senior family members bring knowledge, wisdom, expertise, experience, and vested interest in seeing the business achieve high level of success, the Hermans argue. Parents have coached their kids for years, so the working relationships are not hard to design and manage.
The old model of parents handing over the business to the kids later in life and then heading for the beach still applies but in another new model parents relinquish the strategic decision-making responsibility much earlier, and don’t leave.
“Forget the sand and the palm trees; the older generation of today and tomorrow is more interested in remaining active with the organisation but in different role,” predicts THG. “Some elders simply want to return to the work they were doing before they became boss. Others want to play more of an advisory or specialty role. This transition fits nicely into the move toward phased retirement.”

Visited 3 times, 1 visit(s) today

New NZ CEO and COO at FNZ

Global wealth management platform, FNZ, has appointed Jeremy Graham as Chief Executive Officer of New Zealand, and Aroha Steele as the country’s Chief Operating Officer.  The company says in a

Read More »
Close Search Window