Many family-owned businesses find it increasingly difficult to cope with the changes in today’s business environment and achieve breakthrough in business results. They have a high-risk of being engulfed by larger MNC competitors with a significantly larger pool of resources.
Family-owned businesses have to re-think the way they have operated their businesses over the years. Adopting a mind-set shift to become more innovative and open to adopting new technology & systems is crucial for business growth. Resistance to changes in business strategies and cultural norms would be inevitable but change is absolutely critical in ensuring business continuity.
As the HR function in many family-owned businesses continue to play an operational role, these businesses would soon face critical talent management issues such as manpower crunch, difficulty in recruiting talent and disengaged employees.
Find out how Calent3 partner family-run businesses from defining their business direction to developing key talent required in achieving business goals.
- Difficulty in attracting talent
- Unclear business direction
- Lack of a structured career development system and learning roadmap
- Lack of succession planning