Our founder, Leonora Zilkha Williamson, recently spoke with Frazer Rice on his “Wealth, Actually” podcast about governance in family-owned business and the intersection of wealth and family dynamics.
Below is an overview of topics covered and a link to listen or download.
Introduction
- What were some of the lessons you took from this when forming Platinum Rule Advisors?
- Getting the “human” part of Human Resources right.
- Using assessments and analytics to get a hold of the full family picture.
The Three Big Parts of the Venn Diagram
- What are the frameworks for getting one’s arms around a big and complicated situation?
- The Business – Is it healthy? Where is it Going?
- The Governance – How are decisions made in terms of ownership and operation? Who is in charge of strategy and who implements that strategy?
- The Family – How are decisions made at the family level? How does this intersect with the business?
Intersection of “Family Wealth” and “Executive Coaching”
- In family enterprises, the “human” component can be complicated by family dynamics. What issues do families need to be aware of ? Are there warning signs?
- How do you counsel families and businesses on information asymmetry (need to know vs want to know) when transparency is a goal, but some won’t have the tools/discretion to deal with the important information?
- What happens when wealth and ownership structure doesn’t interact well with operational structure?
Developing Human Capital
- How do you help executives that work in family organizations deal with change when it’s clear that there is a personality clash or obvious performance problem?
- What happens if geography limits the talent pool?
- What if you have a leader that has the “raw material” but is new to being an executive or comes with a different leadership style?
Human Capital Trends?
- How do family businesses think about the important benefits of diversity and inclusion?
- Where do you think “work from home” fits in?
- Are relationships even more important in this landscape? How do you foster them in this new world?
- How do you identify/develop talent via Zoom?