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Career
Development
LGA’s Career Development Consultation is
designed to help individual family members identify, pursue, and succeed at careers
that match their skills and abilities inside or outside the family enterprise. This
process is particularly useful at three different stages of a person’s career:
Entering the business:
The consultation gives young people starting out an opportunity to explore
possible career paths, discuss the advantages and disadvantages of joining the
family business, and learn what educational and vocational experiences will
help them decide their future course.
Advancing to leadership:
Family managers often find it difficult to get enough honest, useful feedback to
make confident career decisions. The consultation gives people at mid-career an
opportunity to assess their own strengths and weaknesses and develop an
action plan for taking their next step in their careers, whether in the business or
outside of it.
Passing the baton:
The needs of senior leaders are
often overlooked when companies are preparing to transfer leadership to the
next generation. Preparing to step away from a hands-on executive role is not the end
of a productive work life, it is a transition to the next
"career." Consultations with an LGA executive
coach
the decade prior to “letting go” can help seniors identify interests and skills
that will define their work in late adulthood.
At any of these stages, the consultation
consists of private meetings with an experienced LGA executive career
coach, self-report questionnaires and, in some cases, “360-degree reviews” by
peers, subordinates, and superiors. Combined with the company’s own
performance appraisals, the Career Development Consultation is one way that families can support the development of all their members, and family businesses can develop strong leaders. It can be particularly useful to
companies run by a team of siblings or cousins, who may share their individual
profiles and discuss their implications for the future role each will play in the company.
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