How Family Businesses Can Attract Non-Family Talent

Many family businesses struggle to attract quality non-family talent because they typically offer less desirable compensation and fewer opportunities for advancement. But the solution is not to mimic traditional corporate hiring practices. Family businesses should instead promote their cultures of caring, trust, and loyalty in order to acquire high-quality talent. Instead of relying on the latest recruitment fads and trends, family businesses should look to these networks to identify like-minded, industrious recruits who share the family’s values. In both recruitment marketing and informal conversations, family businesses should signal that they treat employees like family. Such narratives help attract candidates even when other incentives may be subpar. And highlight the next generation’s involvement in the business, to reassure others of the firm’s strength and permanence. By highlighting their strengths instead of attempting to mitigate their weaknesses, family businesses can attract talented employees and avoid human capital deficits.