As family business advisors there are a number of questions frequently asked. To assist you in understanding the work we do, I will be publishing a series of frequently asked questions.
My dad has promoted me to Managing Director but each time he visits, the management team goes directly to him, and this undermines my position. What can I do?
Changing leadership and transitioning in a family business needs to be handled sensitively. It could be your father doesn’t realise what is happening.
To provide clarity for staff and family we recommend that family members, no different to non-family employees, have a job description and a clear line of reporting. It’s also important to ensure you clearly convey this information to your staff.
A family council is the best forum to address the matter, allowing input from all family members and open discussion so you can develop guidelines for the future.
Grant Thornton’s accredited family business advisors are able to assist you in setting up a family council and addressing the transition of leadership in a family business.
If you would like to learn more or you have a question you would like answered, please do not hesitate to contact me on ktayormartin@gmail.com