“No family can supply every skill the business needs across generations,” Tandem Partners writes.
It’s for this reason that non-family executives are key to business growth and adaption. They bring fresh ideas, outside experience, and expertise your family business may be lacking. But there are obstacles that turn non-family executives away from family businesses.
One obstacle is the perception of limited opportunities. Non-family executives believe that leadership roles are reserved for family members only. This perceived barrier to professional advancement and growth often dissuades non-family executives from family businesses.
There is a way to overcome this obstacle—so that your family business can attract and retain non-family executives. You can read about it in “It’s Not All in the Family: Attracting and Retaining Non-Family Executives.”
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