That companies have a hard time finding new talent is not news. Yet some companies succeed better than others. Family businesses have a powerful weapon in their hands to find and retain talent, but is it always used well? Lonneke Nouwen, employment lawyer at Poelmann van den Broek, knows how family businesses must operate in times of scarcity.
The top boss of a successful retail company - a family business - pays close attention to his people. He has heart for the business, in his view that means heart for the people. He pays a lot of attention to them, encourages them and trains them. Even if someone is not doing well, he doesn't just toss them aside. He continues to invest in them to keep them on board.
For Lonneke Nouwen, an employment law attorney at Poelmann van den Broek, this firm characterizes how family businesses stand in relation to talent management. In her practice, she sees widely varying companies come along, from small to large, from family business to corporate. Larger companies are more adept at talent management, she observes. "They often have that in order better than smaller companies. They are also more engaged in it simply because of the resources and systems they can deploy. The government encourages employers to keep people in a continuous learning process. You're not done after college or training; no matter what occupation you're in, employees should continue to learn, and employers should encourage that. That's a big difference from a few years ago."
Can I work part-time?
The growing focus on talent management is easy to explain, now that just about every industry is facing a shortage of good people. Whereas employees used to be lured with financial incentives and more expensive lease cars, the younger generation is asking for different things, Nouwen observes. "Young people mainly look at growth opportunities, and whether they can work part-time. They are more concerned with the work-life balance than older generations."
Various studies over the past decade have shown that the inflow, flow and outflow of talented people is low on the family business agenda. But where family businesses used to struggle at times with the stuffy image attached to them, that is no longer an issue. The youngest generations are not concerned with whether or not their potential employer is a family business.
Keeping people on board
Nouwen sees that family businesses today are not propagating as much that they are family businesses. "They don't profile themselves with it, perhaps because of the startup culture, which is very attractive to younger employees. The image of family businesses has taken a back seat, and that's a shame. We live in such a fast-paced world. People who don't perform are usually fired right away, whereas government policy is to keep people on board, by offering redeployment opportunities and redevelopment programs."
Family businesses are generally better at talent management because there is more consideration and people are more committed to each other. "The culture is set up accordingly. So they align well with what the government wants. With larger companies, time is money. They often prefer to pay more severance pay to get rid of people quickly. Smaller companies and family businesses pay more attention to their people. There, the director or management is directly involved with the people; the bond is closer there. Then you don't take it lightly."
Attention is the great USP for family businesses in the hunt for good people. By offering advancement opportunities, by expressing appreciation. Will I be invested in? Nouwen: "You can't all get to the top, so only financial appreciation is not enough. Let talents develop, give attention to people. In that we can learn a lot from family businesses. The feeling that you matter."
Opinion Lonneke Nouwen
Nouwen therefore advises family businesses to stay especially close to their roots. "Remain yourself, but at the same time dare to show that you are innovative and modern. That you have moved with the times, that there are opportunities for development, and that there is an eye for the individual. If you can combine that, you have the best of both worlds. And in family businesses, all those ingredients are present. They know that people are their greatest asset."