Family Business Methodology
We Help Clients Evolve From a Family Business, to a Family in Business
Loyalty, history and shared values give family businesses a unique edge in facing difficult challenges. At the same time, these organizations experience a complexity inside both the family and the business that few on the outside truly understand. Our approach is based on these three questions:
- How can the family best sustain the business?
- How can the business best enrich the family?
- How can the family function together in harmony?
We Have 60 Years of Experience Counseling Large and Small Family Businesses
According to Inc.com, only 30% of family businesses survive the transition from first to second generation ownership. However, when a company has a well-crafted plan in place, the odds of success increase dramatically. In order to improve these odds, we establish a three-part governance model.
- Advisory Board: Designed to bring an outside perspective and objectivity
- Family Council: Provides a venue for family members to meet, be informed, and resolve conflict
- Compensation Committee: Provides input and advice regarding family compensation
Benefits and Outcomes
“Psychological Associates is our “go to company” when we vet employee candidates, implement employee engagement surveys and conduct individual employee coaching sessions. They greatly increase our ability to recruit and manage our most costly and also greatest asset … our employees. We would find it hard to operate as effectively and confidently without Psychological Associate’s valued support and direction.”
“The quality of Psychological Associates reports…in general, they have quite good insights into the people taking the tests. Another one is that, by virtue of having worked with us for years, they know us fairly well. As a result, they are able to do some successful matching between candidates and the company.”
“We actually sought Psychological Associates out when we recognized that we had a need for higher level resources in our leadership development program… They came back with a very clear and concise approach to helping us with our leadership development program.”