We often see high-level professionals who have been part of big Corporates join comparatively smaller family-run businesses. This is mainly because they feel that they can lead, contribute and learn more from smaller organizations, and also help the company grow with the experience they have gained from Corporates. This valuable experience would be beneficial to their career growth too. But is the Family run business concerns ready to employ these professionals?
Four vital tips for maximum utilization:-
- Business instructions given to the professional should be clear, precise and there should be uniformity. Instructions should come from one source, every family member involved in the business should not give varied opinions on the same subject or should not demand too many things at the same time.
- Provide adequate space for the professional to perform and carry out his duties without interference.
- Patience is of utmost importance. To bring about some semblance of professionalism in an Organization which has been running in a non-professional manner will take at least one year, and any kind of results will start showing only after this period. In the meantime refrain from judging him/her based on here-say and rumours. The naysayers in the Company will be many, and if the new professional is judged on the basis of their opinions, the loss will be for the company business and the family members.
- To evaluate the performance of a professional CEO, guidance can be sought from senior/veteran members from the Industry or a valued mentor of the family. The challenge here is – not to reduce the professional to the level of incompetency prevailing in the organization, and/or letting the family’s insecurity reduce the professional services of the incumbent in any manner.
