Exciting News: Family.Inc

For those of you who are members of a family business, please watch for the launch of Family.Inc on January 2nd. Family.Inc is a platform created for families-in-business. With community Q&A, expert-led lectures and discussion groups, private, family-dedicated space for family business communications and coordination, and external resources, Family.Inc will be a global hub for navigating the challenges of being family in a family business.

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Family Feedback

In the United States, the employee feedback industry was valued at $1.6 billion in 2022. Companies are dedicating millions of hours a year to providing employees feedback on their performance. Feedback is so important, according to Gallup’s research, that employees are 3.6 times more likely to strongly agree that they are motivated to excel at work when their manager provides daily feedback, compared to annual feedback.

Why do we care about feedback? According to Dr. Gemma Leigh Roberts, an organizational psychologist and founder of The Resilience Edge, positive feedback can help to build confidence and self-esteem, boost motivation, and enhance performance and well-being. However, despite its importance in the corporate world, when was the last time you asked your spouse, partner, sibling, or child how you’ve been doing and how you could improve?

Last week I leaned into this idea at home by asking my son (age 7) how I could improve my performance (i.e. “Henry, how can I be a better dad?”)

He paused. Thought. Then responded with the following:

1. He would like to eat more popsicles.
2. He would like us to “yell” less.
3. He would like me to play with him more.
4. He would like us to snuggle more.

I couldn’t help but laugh and cry at his responses. After thanking him for the feedback, we talked about the why behind each request and I asked for examples; it was illuminating, heartwarming, and humbling and it brought us a little closer together.

Will he get more popsicles? Probably not. Will we “yell” less? I certainly hope so. Will we play more and snuggle more often? Unquestionably.

Here’s my call to action for you: invest in your family like you invest in yourself or your company invests in you. Asking for family member feedback may seem too corporate or silly, but years of research and billions have been spent determining that feedback matters. Why not implement it in your home this holiday season and explore the power of this intentional conversation.

If you or someone you know is struggling with having those intentional conversations in their family business, please reach out, I’d love to help.

Josh