Making outside work experience worthwhile
Document Type
Article
Publication Date
5-28-2024
Abstract
Many business families require NextGens to work outside their companies as a prerequisite for joining the family firm, believing it to be the best way for younger family members to gain legitimacy, to learn what work “is really like” and to make mistakes at no cost to the family business.
However, this requirement is often put in place without any clear plans to help the NextGen derive value from the experience that can be passed on to the family business. Given that these outside work mandates often lack a solid re-entry plan, it's not surprising that NextGens often decide not to return to the family business.
Publication Information
Astrachan, Joseph H.; Botero, Isabel C.; and Wittmeyer, Carol (2024). "Making outside work experience worthwhile." Family Business .
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