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family values

Enhancing human capital in business families: Creating a culture where everyone has a voice

March 3, 2023

Some younger family members aren’t waiting for formal transitions. They’re focused on contributing today to a world that will still be sustainable in 100 years' time, says KPMG's Creagh Sudding.

There are widespread and ongoing discussions among family businesses about the potential roles and contributions of next-generation family members. In some cases, this is the result of impending succession decisions and the need for a smooth transition from one generation to the next. But, in other cases, younger family members aren’t waiting for formal transitions. They’re focused on contributing today to aworld that will still be sustainable in 100 years' time.

Redefining wealth as succession comes to the fore in family businesses

February 10, 2023

With the next generation of family members increasingly beginning to come into the workplace, family businesses are recognising the changes and challenges that succession may bring. New values and a strong focus on sustainability have implications for asset allocation, diversification and definitions of success, says KPMG's Tom McGinness.

As the new generation begins to come through, many current family business leaders are recognising that not all of their next-generation family members will work in the business. As a result, there are increasing concerns about the succession of the business amongst business families – and what ramifications this has for how wealth is defined and sustained.

One response may be to look at selling the family business to other families or to larger organisations.

Leveraging human and social capital in family businesses

January 30, 2023

Family businesses often possess a wealth of human and social capital that can be harnessed in many different ways. In particular, it is key to find the right path forward for the skills, interests and abilities of next-generation family members so that they can contribute and generate value, says KPMG's Tom McGinness.

As family businesses look at new ways of maintaining and building their capital, the notion of human capital is very much on the rise. Human capital encompasses the knowledge, skills, experience and social qualities of family members and employees, and their ability to generate value.

Family capital diversification: Protecting the family’s financial assets

January 30, 2023

In today’s challenging economic environment, family businesses are looking for ways to de-risk and diversify their capital strategies, as well as take account of the aspirations of the next generation of family members, says KPMG's Tom McGinness.

Family businesses are well known for their ‘Patient capital’ strategies with a focus on longer-term value creation, rather than the continuous hunt for short-term results. This long-term approach was especially relevant during the Covid-19 pandemic – and remains just as relevant after it, too.

The next generation of work

July 21, 2022

KPMG’s Tom McGinness asks are family businesses role models for the future of work?

At the height of the pandemic, talent risk jumped 20 places in the 2020 KPMG CEO Outlook Survey [1], to become one of the leading threats to long-term growth. It was the first time in the history of the survey that the “People agenda” was seen as an urgent C-suite priority.

Making the right philanthropic impact with Deanne Weir

May 18, 2022

KPMG’s Philanthropists in Action case study series looks at the impact made by Australian investor, entrepreneur and gender-equality activist Deanne Weir.

This profile is a part of KPMG’s Philanthropists in Action case study series, which examines a number of emerging trends across the philanthropy landscape, as the Environmental, Social, and Governance (ESG) agenda and creating social impact climb the priority list of family offices and ultra-high net worth individuals (UHNWIs) around the world.

Empowering women through capacity-building with Atalanti Moquette

May 12, 2022

KPMG’s Philanthropists in Action case study series looks at the impact made by Atalanti Moquette, philanthropist and founder of Giving Women.

Establishing family values and legacies through philanthropy

May 2, 2022

KPMG’s Philanthropists in Action case study series looks at the impact made by Catherine Fritz-Kalish, managing director of Global Access Partners.

Disruptive thinking: The path to continuous transformation in family businesses

April 21, 2022

No one is better equipped to take the reins of transformational leadership than family businesses, says KPMG partner Tom McGinness.

When I look back at the unpredictability of 2021, I’m reminded that the pandemic was a stimulus for some disruptive and transformative innovations in medicine, technology, buying behaviour, entertainment and personal fitness that have had a seismic impact on the way we live and work.

How a ground-breaking school curriculum is preparing students to make positive change through technology

March 18, 2022

With a well-earned reputation for being one of the world’s finest boarding schools, the Institut auf dem Rosenberg has long instilled entrepreneurial skills and attitudes in its students. Now, with a new cutting-edge program teaching the benefits of technology, they’re preparing the next generation for whatever the 21-Century has in store.

Humanix is the first curriculumin the world to train students' cognitive capacities and literacy through the study of human connectiveness.