Organizing Human Resources in Family Firms During Generational Succession

2022 ◽  
pp. 1193-1210
Author(s):  
Anna Maria Melina ◽  
Concetta Lucia Cristofaro ◽  
Marzia Ventura ◽  
Rocco Reina
Keyword(s):  
Human Resources ◽  
Succession Planning ◽  
Family Firms ◽  
Family Firm ◽  
Competitive Advantages ◽  
Narrow Focus ◽  
Employee Attitude ◽  
And Behavior ◽  
Generational Succession

HRM in family firm (FF) research has moved from its narrow focus on selection and succession planning towards studying the broader antecedents, content and outcomes of HRM. Today, HRM is acknowledged as a crucial factor for attracting new talent, improving employee attitude and behavior, enhancing performance, and fostering the long-term competitive advantages. The aim of this study is to identify which tools and practices FFs adopt with HR during succession planning. For example, do they use the replacement table with the aim of providing the firm and its management with a map that allows them to make the most appropriate decisions to replace a person who is no longer available to fill a certain position? Or is it possible to identify other tools? Similar questions help the authors to investigate around the importance regarding people in firms during generational succession.

Organizing Human Resources in Family Firms During Generational Succession

2021 ◽  
pp. 264-281
Author(s):  
Anna Maria Melina ◽  
Concetta Lucia Cristofaro ◽  
Marzia Ventura ◽  
Rocco Reina
Keyword(s):  
Human Resources ◽  
Succession Planning ◽  
Family Firms ◽  
Family Firm ◽  
Competitive Advantages ◽  
Narrow Focus ◽  
Employee Attitude ◽  
And Behavior ◽  
Generational Succession

HRM in family firm (FF) research has moved from its narrow focus on selection and succession planning towards studying the broader antecedents, content and outcomes of HRM. Today, HRM is acknowledged as a crucial factor for attracting new talent, improving employee attitude and behavior, enhancing performance, and fostering the long-term competitive advantages. The aim of this study is to identify which tools and practices FFs adopt with HR during succession planning. For example, do they use the replacement table with the aim of providing the firm and its management with a map that allows them to make the most appropriate decisions to replace a person who is no longer available to fill a certain position? Or is it possible to identify other tools? Similar questions help the authors to investigate around the importance regarding people in firms during generational succession.

The Organizational Resilience in Family Firms Studies

2020 ◽  
pp. 107-126
Author(s):  
Marzia Ventura ◽  
Anna Maria Melina ◽  
Walter Vesperi ◽  
Rocco Reina
Keyword(s):  
Strategic Planning ◽  
Succession Planning ◽  
Family Firms ◽  
Family Firm ◽  
Organizational Resilience ◽  
The Moment ◽  
Generational Succession ◽  
Over Time

This research analyses how Strategic Planning impacts the organizational resilience in Family Firm. Several contributions show that succession planning in FF has become a particularly sensitive topic over time, where the actors involved had to redefine roles and relations, especially during their generational succession like the moment of the greatest crisis in a firm's life. Theorists and researchers agree that the continuity of businesses from one generation to the next depends highly on succession planning. To achieve this aim, the significance and impact of resilience during this phase is analyzed and discussed in this chapter to offer new insight and perspective to the studies of resilience in FFs.

The Effect of Transgenerational Control Intention on Family-Firm Performance: It Depends Who Pursues It

2017 ◽  
Vol 43 (3) ◽  
pp. 629-646 ◽  
Author(s):  
Christian Hoffmann ◽  
Peter Jaskiewicz ◽  
Torsten Wulf ◽  
James G. Combs
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Empirical Investigation ◽  
Cognitive Biases ◽  
Family Firm ◽  
Socioemotional Wealth ◽  
German Family

Transgenerational control intention (TCI) is a pivotal characteristic of many family firms. Yet, it remains unclear whether TCI benefits family-firm performance by instilling a long-term view, or hurts performance by fueling harmful socioemotional wealth (SEW) goals. We posit that it depends who pursues it. When faced with TCI, family managers are known to suffer from cognitive biases that, we submit, do not similarly apply to nonfamily managers. Thus, only family managers harm performance when pursuing TCI. An empirical investigation of 107 private German family firms supports our theory; the effect of TCI on firm performance depends on who pursues it.

scholarly journals UPAYA PENINGKATAN MUTU PENDIDIKAN TINGGI SERTA IMPLIKASINYA TERHADAP TUGAS DAN PERAN DOSEN

Nuansa ◽  
2018 ◽  
Vol 11 (1) ◽  
Author(s):  
Rizkan Syahbuddin
Keyword(s):  
Higher Education ◽  
Human Resources ◽  
National Development ◽  
Quality Of Higher Education ◽  
Effective Training ◽  
The Future ◽  
The Government ◽  
And Behavior

National development that  lasts  all the  time,  then the  development of higher education is still prioritized by the government to continue to grow, including the role and  duties of lecturers. Strategy  setting is part  of long-term development. The goal is in the most appropriate way in the future to be able. Improving the quality of higher education can not be separated from the quality of human resources owned. Therefore, improving the quality of the behavior and behavior of lecturers as teachers through education channels and  effective training programs in their  work is needed. With qualified human resources, it is expected that  higher education will become an institution capable of effectively facing the challenges of the future.

The role of the family council and protocol in planning the succession process in family firms

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Cláudia Matias ◽  
Mário Franco
Keyword(s):  
Succession Planning ◽  
Family Firms ◽  
Planning Process ◽  
Family Firm ◽  
Content Type ◽  
Documentary Analysis ◽  
The Family ◽  
Governance Practices ◽  
Working Groups ◽  
New Generation

PurposeThe main objective of this study is to understand the role that family council and protocol can have in the planning process of family companies.Design/methodology/approachTo reach this general objective, the qualitative approach was used using multiple case studies: seven Portuguese family companies. Data collection techniques, interviewing, direct observation and documentary analysis were used.FindingsBased on the empirical evidence, it is concluded that the family council and family protocol help succession planning and favour the continuity and survival of the family business. However, other working groups also support the entire planning process, such as the cousin generation meeting and the New Generation Monitoring Committee (or Mentoring Committee). The development of future personal plans for the younger generations may lie in this Committee, which assists and guides the younger family members.Practical implicationsThis study is pioneering in Portugal because it analyses the use of new instruments that helps the succession planning process in family firm context: the family council and family protocol. These managerial mechanisms allow to achieve the success, allowing family conflicts to be minimized, the continuity of family firms and avoiding their mortality.Originality/valueThe study contributes to increasing knowledge about the family council, the family protocol, family firm succession and its planning. It is important and innovative by studying those topics in depth, their connection being little explored in the literature. This study can be seen as a benchmarking for governance practices in other countries.

scholarly journals Principal-Principal Conflicts and Socioemotional Wealth in Family Firms

2017 ◽  
Vol 9 (10) ◽  
pp. 128 ◽  
Author(s):  
Jason See Toh Seong Kuan ◽  
Chin Fei Goh ◽  
Owee Kowang Tan ◽  
Norliza Mohd Salleh
Keyword(s):  
Corporate Governance ◽  
Family Firms ◽  
Family Firm ◽  
The Public ◽  
The Family ◽  
Different Types ◽  
Governance Practice ◽  
Corporate Governance Practice ◽  
The Relationship

Corporate governance is the concern of all the parties throughout the world regarding their viability in order to ensure the sustainability of the firm. As the family firms are listed in the public exchange, there are different kind of the investors in the corporation produce the resolution that are opposing to each other. Moreover, the large capital that is injected by the institutional investor complicates the role played in the corporation that shapes the culture and philanthropy. The phenomenon leads to the complex relationship in one corporation due to the different types of interest. Board composition and board independence are stretched by numerous scholars regarding the core importance in the corporation. Executive compensation is another area of corporate governance that is widely discussed by the scholars regarding the relationship with the long-term firm performance. Therefore, this review paper will focus on the application of the Principal-principal Conflicts theory and Socio-Emotional Wealth theory to narrate the whole scenario of the governance practice in the family firm. Throughout the paper, current rigorous practice of the family firms will be deeply investigated to cover the deep insights of the current phenomenon. The meticulous review of this paper is able to synthesize the significance of these theories towards the general governance setting in the family firms. Eventually, the working paradigm of the family firm can be clearly justified with the rationale that is justified. At the end of the review, the two main theories are concluded to be equally essential to illustrate the corporate governance practice in family firms across the globe.

Knowledge Transfer Strategies within Family Firm Succession

2014 ◽  
pp. 266-281 ◽  
Author(s):  
Isabella Hatak ◽  
Dietmar Roessl
Keyword(s):  
High Risk ◽  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Firms ◽  
Family Firm ◽  
Empirical Approach ◽  
Competitive Advantages ◽  
Policy Makers ◽  
The Family ◽  
Transfer Strategies

A firm's knowledge is considered a key strategic asset in the course of generating competitive advantages. However, especially within family firm succession, there is a high risk that knowledge embedded if the predecessor leaves the organization. Thus, in order to maintain the family firm's competitive advantage an understanding of the challenges regarding the knowledge transfer within family firm succession is needed. In this chapter, the authors employ a qualitative empirical approach to identify context-based knowledge transfer strategies and develop a typology of transfer constellations. The results provide insight for students, researchers, consultants, policy makers and family firm leaders, who are searching for the most appropriate knowledge transfer strategy given the nature, philosophies and traditions of specific small and medium sized family firms.

Methodical Approach to Formalization of Strategy of Business Career on the Basis of Balanced Scorecards

2016 ◽  
Vol 5 (4) ◽  
pp. 56-62
Author(s):  
Сотников ◽  
N. Sotnikov
Keyword(s):  
Human Resources ◽  
Human Resource ◽  
Balanced Scorecard ◽  
Competitive Advantages ◽  
Statistical Research ◽  
Strategic Approach ◽  
Methodical Approach ◽  
Balanced Scorecards ◽  
Independent Model

In the conditions of strengthening of the competition for human resources objective need of formation and development of strategic approach to management of business career increases in business. Article is devoted to consideration of approach to strategy formalization by the business career focused on managements of capitalization of the modern organization. On the basis of the analysis and generalization of results of the carried-out statistical research of business career at the Russian enterprises in article objective need of formation and development of system of the balanced indicators as independent model of strategic management of business career is reasoned. Being guided by modern theories of management, human resource management, the author’s interpretation of the concept “balanced scorecards of business career”, logical-methodological systematization of prospects of the considered system, interpretation of content of these prospects is offered. Formalization of strategy of business career with use of balanced scorecard is urged to guarantee professional approach to investment into career of own personnel, the main incentive of search and realization of long-term competitive advantages of a human resource of the organization.

scholarly journals Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms

2019 ◽  
Vol 11 (16) ◽  
pp. 4447 ◽  
Author(s):  
Chen ◽  
Wang ◽  
Wang ◽  
Luo
Keyword(s):  
Risk Taking ◽  
Family Firms ◽  
Family Firm ◽  
Sibling Rivalry ◽  
The Family ◽  
Increase Risk ◽  
Managerial Implications ◽  
Succession Process ◽  
Using Data ◽  
Generational Succession

Succession process is a significant matter that is vital to the sustainability of a family firm. Families are generous in involving the offspring(s) into the family business so as to fulfill inter-generational succession. In this paper, we concentrate on the issue on the results of the involvement of multiple offsprings in family firms. By using data collected from China listed family firms between 2009 and 2015, we reveal that there exist contingency effects of the involvement of multiple offsprings on risk taking in different phrases. The involvement of new offspring(s) that leads the sibling rivalry to happen would increase risk taking of the family firm in a short-term. While for those family firms in which offsprings serve together as brothers in arms, risk taking is even lower than that of family firms with no more than one offspring. Our findings have managerial implications for dealing with succession process and maintaining sustainability of family businesses.

Assessing long-term orientation among founder- and descendant-led firms

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Viktoria Veider ◽  
Andreas Kallmuenzer
Keyword(s):  
Decision Making ◽  
Design Methodology ◽  
Family Firms ◽  
Family Firm ◽  
Strategic Orientation ◽  
Primary Data ◽  
Business Decisions ◽  
Type Design ◽  
Nuanced Understanding

Purpose The purpose of this paper is to explore how family firms in general, and founder- and descendant-led firms in particular, espouse long-term oriented goals of continuity, perseverance and futurity in their narratives. Design/methodology/approach Primary data from 11 founder-led and 13 descendant-led family firms from Austria was collected in a narrative setting for a better understanding of their long-term orientation. Content analysis via the help of atlas.ti was employed. Findings Findings suggest that family firms anchor decision-making with a constant awareness of their past, incorporate anticipation in decision-making and exhibit patience for investment. However, even though family firms jointly emphasize a long-term orientation, they approach it differently. Founder-led family firms put the founder and its family central to business decisions, emphasize idea development and admit their own mulishness. Descendant-led family firms attempt to maintain the business over generations, believe in the importance to develop new projects and target a sturdy development of the firm. Originality/value Family firms often have been accorded a certain long-term strategic orientation. However, what is missing from prior research is a more nuanced understanding of the LTO construct, as well as the heterogeneity of family firms in this regard. The findings contribute to extant research by showing how LTO is expressed in family firm narratives, providing a better understanding of the LTO construct, an omnipresent characteristic frequently used in family firm literature.

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