Next Generation Survey 2016

"One of the biggest challenges I faced when I started working for the business was earning the respect of other people."

Gavin Symes Executive Director, Credit Repair Australia

It's an important step for anyone in a family business to have experience outside of the family business itself.

Tim Slattery Slattery Asset Advisory and Slattery Auctions

We weren't thrown into the business at a senior leadership level, we've had to really work our way up.

Kiersten Symes General Associate, Credit Repair Australia

Next Generation Survey 2016

Great expectations - the next generation of family business leaders

The world's next generation of family business leaders are more confident, better prepared for senior roles and more ambitious than they were when we spoke to them two years ago. But while many of the old challenges remain - such as skills, succession and scale - two issues stood out this time around - one is how next gens are dealing with the challenges and opportunities of digital disruption, and the other is professionalisation - both of the business and of the family.

Key findings:

  • The next generation is increasingly seeing the value of professionalising the family business.
  • Nine out of ten agree that having non-family members in key positions is a positive thing, up from eight in the last survey in 2014.
  • Next gens are more likely than either the current generation or CEOs of global listed companies to rate digital technology as the trend most likely to transform their business.
  • However only 41% of next gens think their business has a strategy fit for the digital world, which means 59% don't. 
  • More worryingly is that 72% of next gens don't believe their business is at the risk of digital disruption. 
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Next Generation Survey 2016 - Australian analysis and global report

View  Australian analysis

View global report

Summary of the key findings

Want a high level summary of what's top of mind for next gen business leaders?

Download the snapshot

The Female Perspective

To mark International Women's Day we decided to look specifically at the next generation of women working in family businesses. What is their experience? What issues do they face? Do they have the ambition and support they need to succeed? If not, what factors are holding them back?

Download report

Next Gen Survey case studies

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"I think we're held to a higher standard than other people, and actually we hold ourselves to a higher standard too, because it's our family business, and we live and breathe it every single day." - Mitchell Symes, Executive Director, Credit Repair Australia.

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"We’re lucky enough to have a very open and inclusive set of family dynamics." - Tim Slattery, Director, Slattery Asset Advisory and Slattery Auctions.

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Our Family Business Survey launches in October, 2016.


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Contact us

Stuart Morley
Head of Wealth, Private Clients
Tel: +61 (3) 8603 0280
Email

David Smorgon OAM
Executive Chairman, Family Advisory
Tel: +61 3 8603 1368
Email

Michael Dean
Partner, Private Clients
Tel: +61 (2) 8266 5427
Email

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