Bottom-Line Behavior

Mitigate the impact of key employee departures in a family businesses

A departure of a key employee in any company can sting, more so in a family business. But there are steps companies can take to guard against that kind of turnover.

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Employee turnover in a family business generally happens less than in larger public businesses — as the executive team is often made up of family members who aren’t going anywhere. Even individual contributors with no managerial aspirations tend to stay around longer due to the family-like atmosphere. 

 

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