Induction of Next Generation

The common phrase “generation gap” that one hears time and again in all families and cultures, in the context of family businesses surfaces as the induction challenges of new family members in the business. Typically, the new generation born and growing in a different world and more often than not educated in prestigious institutions in developed world come back with big ideas and dreams to do something big. Often they find their ideas are not strongly supported or worse questioned by the elder generation, who have experience of how things work on ground and the implementation challenges in a bureaucratic and highly competitive world.

Team Anil helps family businesses in creation of a robust induction plan. This starts with identifying the drives and strengths of members of new generation and opportunities available within the family business (including possibility of a start up/new business). Matching the two, appropriate role and responsibilities, Key Result Areas and Key Performance Indicators are created. Also, the family member is assigned to a capable and supportive boss (reporting manager) and one or more coaches/mentors are provided to enhance effectiveness. The final part of the induction plan is identifying someone is the family who takes on the responsibility of smooth implementation of the entire induction plan.