Navigating in a highly volatile environment has become the only constant for organizations. However, the business fabric is aware that talent represents a key lever to overcome short-term challenges and boost future growth. In this regard, family and non-family businesses are clearly committed to attracting and retaining talent as a strategic priority for the next twelve months. This commitment is especially relevant in the case of family businesses, since half of them (50%) place talent as the highest priority in the coming months, a result eighteen points higher than that of non-family businesses (32%). .
This is demonstrated by the managers surveyed in the latest Pulso Empresarial survey, promoted by KPMG and La Vanguardia, which includes companies that account for more than 25% of Catalan GDP. However, despite the fact that businessmen agree to focus on talent in the short term, there are certain differences regarding their strategic priorities in the next three years. Specifically, non-family businesses place sustainability as the strategic priority (51%), at a distance from the rest of the questions, while family businessmen continue to consider talent a priority, along with ESG aspects (both with 33% of responses). ).
Beyond strategic priorities, family businesses are clear about where to focus, taking into account the particularities of their management, their long-term vision and their commitment to the communities in which they are present. Thus, 100% of the executives of these companies claim to be paying special attention to the professionalization of corporate governance. Followed by family relationship management and entrepreneurship orientation, as well as succession planning (both questions with 50% responses). In this sense, 67% of family companies belonging to the ‘Business Pulse’ panel claim to have a solid succession plan.
Despite the challenges and uncertainty that define the current economic-business scenario, corporations (family and non-family) are confident that they have done their homework and feel prepared to face them successfully, especially from the point of view of corporate governance ( 95%) and risk taking (89%). The managers of all the companies surveyed also claim to be prepared to face challenges such as disruption in supply chains (95%), the energy crisis (85%) or rising inflation (84%).
Undoubtedly, a key aspect in the resilience of organizations, which has gained more weight in recent years, is the purpose and values, which allow the business fabric to have a vision of the future. In the case of family businesses, this commitment to their raison d’être is especially relevant.
When questioned about the values ??that most identify their family business, most of these managers highlight the commitment and long-term orientation, as well as the knowledge and experience of successive generations over time (83% in both cases ). For their part, non-family entrepreneurs especially value family businesses for their extensive knowledge and business experience, along with flexibility and agility in decision-making (67%, respectively).
In short, the commitment to people and a sustainable future show that, although the business fabric is aware of the challenges that it faces and is taking measures to do so, it does not divert its gaze from the future. Commitment and purpose are key elements, which promote resilience in a complex environment, especially in the case of family businesses.