... they shall be known by their weekend...

For Depression-influenced, pre-occupation with food and shelter led to a strong work ethic. Long hours, whatever it took to get job done. Weekends were more work, if not at a job, then looking after food and shelter. Younger members of this group didn't have much technology at work, so it was "all nighters" and long weekends at work to get out reports and analyses that job demanded for "better management."

Boomers worked hard, but their increasing affluence and consumption led them to start defining weekend: A beer on Friday night with guys from work; Saturday for kids activities; Saturday night neighborhood / friends socializing; Sunday around house for fixing and tv sports.

Gen X want a life beyond work so they demand more weekend. Shooters on Thursday night with men and women from work - joined by friends, friends of friends...

Gen Y's, with their digital world orientation of 24/7/365 probably won't know weekend from weekday, or weekday from weeknight.

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Humor aside, can a family business come up with policies to motivate and incent and reward people with such different attitudes and values? Probably not. But just recognizing differences is a good start.

And there are some other strategies that might also help.

Regularly survey employee opinions. Deal with negative. Celebrate positive. Show employees that their opinions do matter. Celebrating something positive is one good reason to promote opportunities for employees to socialize - use others also. Emphasize business' vision and mission, and its culture. Ensure they know how their job fits into whole picture and that they know they are important to business - don't assume they know - tell them!. A regular performance review process that includes these issues is a must. Recognize employees immediately who do things that show awareness and are consistent with those values. Look for ways to make life easier for your employees - flexible hours, transportation assistance, child care facilities or subsidies - they are busy as parents and care-givers as well as employees. Encourage your employees to share and show your sense of community and respect for environment. Recognizing differences in attitudes and values amongst your employees helps you to meet their needs. This helps you attract and retain best. Your customers, your employees and your family business all win. PS A really great bonus is that most of things you can do here cost you little or nothing in financial capital - they come from emotion and intellect, not your bank account!

The first phase of intervention process we normally recommend would include an OPERATIONAL ASSESSMENT of business.

What opportunities are available in terms of profit optimization, cost containment or cost reduction? What are operating parameters of business and what changes in operational procedures or operational protocol might increase ROI of business? What options are available for improving health of business, both internally as well as in marketplace? This OPERATIONAL ASSESSMENT provides family business facts and objectivity that are often obscured by owner /managers being too close to problems.

The second phase would include involvement of a family business ocnsultant who is skilled in both business and family dynamics. These professionals are focused on opening up and developing all possible channels of communication. These professionals should be able to facilitate a strategic plan for business and a strategic plan for family as well.

Addressing one system and ignoring others is wrought with problems that can cause a family business to self-destruct - especially when dealing with generational issues.

The third phase of multi discipline approach focuses primarily on tax consequences of succession. Without proper planning, succession (planned or unplanned) can become a financial catastrophe for both business as well as for family.

More often than not, some financial planning has taken place. Unfortunately, most of these efforts are focused only on one individual - owner/ entrepreneur. As a result, planning generally is incomplete or only sequential solutions are engaged.

The financial planning for succession should be approached from perspective of minimizing total tax consequences of succession. This concept allows for development of a connected and well integrated approach, an approach that considers goals and objectives of family as well as future needs of business.

The "on-going" processes for maintaining a healthy family business would include strategies such as conducting annual or semi-annual FAMILY MEETINGS and establishing an outside BOARD OF ADVISORS.

It should be noted that one of major benefits of this multi-disciplined team approach is ability to involve "outside" professional intervention to family business in a purposeful yet expedient manner. Although segments of process have been cited to help illuminate process, multi-disciplined team approach allows for each segment to be addressed simultaneously.

If this approach makes sense, give us a call so we can discuss particulars of your situation and help you to formulate a plan of action and a timetable for beginning succession planning process. The most difficult hurdle to overcome is procrastination hoping problems will go away or will solve themselves. As Tom Watson, former head of IBM, reflected, lying dead in water and doing nothing is comfortable because it is without risk, but it is an absolutely fatal way to manage a business".