Family Leadership Strategies

31 or key family members but always in the context of promoting candidate development. Informal feedback can take many forms but often adheres to the following principles. Ideally it will begin when candidates are identified, or if necessary upon their appointment to a leadership role. Feedback should not be given ‘on the run’ but rather in a private setting, free of emotion or conflict. Feedback is not criticism but rather should be couched in a way that objectively provides the recipient with an understanding of how his or her actions, words, or behavior can be perceived by others. No judgment is stated or implied. Feedback and progress should be viewed as a long-term process, initially focused on a single area that most impacts the effectiveness of the successor’s leadership effectiveness and balanced with positive comments about improvement or areas of strength. In time, other areas can be discussed, but ‘less is more’ when it comes to anyone’s ability to focus on areas of development. It is important to keep it simple and focused. Finally, families should ‘check-in’ periodically regarding the candidate’s thoughts and reactions. Formal feedback mechanisms often entail some form of a 360-degree assessment. Such assessments are done with the assistance of outside consultants who will help design the scope of the feedback and determine the appropriate family members, board directors, operating company executives, and other stakeholders who are in a position to provide meaningful input. The scope should not be overly broad but include those areas (e.g. temperament, judgment, empathy, communication, and style) that are critical to the leadership position in mind. The effort should be balanced and include both strengths and areas of improvement. Avoid using the process to bring up grudges and ensure that all understand how and why the assessment is being done, and all feel confident the input will be put to effective use. Pay particular attention to input from siblings and cousins and consider undertaking assessments on a broad range of candidates to ensure fairness. A final observation regarding process. Senior family members and board directors ‘own’ the transition development and selection process. They are responsible for defining the process, ensuring it is open and collaborative, and sets the right tone. To the extent possible it should be inclusive and clear to all. When this is done thoughtfully, key family members feel engaged, and successors know that siblings and cousins support their new leadership role. Special considerations