Recomendaciones para el proceso de sucesión en una empresa familiar

Recommendations for the succession process in a family business

When there is a change of leader in a family business, it is essential to carry out an orderly transfer process. About this, here are some recommendations.

In any organization, when there is a change of leader, it is essential to carry out an orderly transfer process, which can represent a great challenge. In the case of family businesses, it occurs through the succession process, which consists of planning to transfer the management to another family member or a third party and thus achieve an orderly transition.

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For Pablo Montalbetti, dean of the Faculty of Administration and Business of the Technological University of Peru (UTP), “an orderly planning in the succession process allows whoever assumes the position to have a direct learning of factors such as the transmission of culture family, management of priorities, the decision-making process, risk aversion, treatment and benefits of relatives in the company, among others”.

In this sense, the specialist, who affirms that this process could be carried out in a year, offers the following recommendations to do it correctly:

1. Be rigorous

When making the evaluation, it is important to take into account various factors such as academic preparation, knowledge of the business, leadership and empathy with the family and exclusive dedication.

2. Choose a trusted person

Whoever assumes the position must be transparent in the management of the company and transfer all timely and relevant information to the shareholders.

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3. Have the support of third parties

This can be helpful at the time of transition, as it provides objectivity in the succession definition and implementation process. The third party can develop a family protocol for it.

4. Support the new leader

It is important to have tolerance with the new person who assumes the position, give him time and trust. On several occasions comparisons are made with the previous leader and this is something that should be avoided.

5. Have good communication

When the new leader starts in the position, it is important to communicate it to the entire organization in a timely manner, as well as to facilitate the links so that there is an efficient flow of information between the leader and the collaborators.

What else should be taken into account?

Finally, the dean of the Faculty of Administration and Business of the UTP affirms that “the successor does not necessarily have to be the older brother, but rather the most prepared member of the family. In the event that none of them meets the necessary requirements, a third party may assume the presidency of the board of directors”.

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