Family-run businesses more employee-friendly, passionate and creative
A recent poll by the Warwick Business School on behalf of More Th>n Business has found that 45% of people believe that family businesses have more motivated staff. Only 9% believe this is the case for non-family firms.
The research suggests that businesses who keep it in the family offer staff better employee welfare, more flexibility and less stress. They are also thought to be more passionate and creative than other businesses.
Stephen Roper, professor of enterprise at Warwick Business School, said:
“Family businesses are well placed to benefit from the brain drain going on in big businesses, with many talented employees searching out positions that offer family-friendly working environments.”
According to the research, family businesses make up three million of the UK’s 4.6 million private sector businesses.
Mike Bowman, head of business at More Th>n, says:
“Family-run firms are seen as safe, secure, loyal and friendly working environments. Family businesses have a great opportunity to attract some top calibre talent out of the recession, which will put them on the path to success.”