A generic name for family-run businesses in India, ‘lala companies’ have unique attributes—great rewards…and greater punishment, if the lala stops liking your face!
There is substantial research showing that people who are successful in a holistic way—not just at making money—have high emotional intelligence. Do not confuse intelligence quotient (IQ) with EQ. Effective leaders allow themselves to be emotional privately. They process it, then come back and give the public their best selves, communicating constructively and listening more than talking.
A family employment policy that establishes educational prerequisites, professional development avenues, hiring policies and a measure of emotional intelligence clarifies expectations to ensure that a family member will only be appointed as CEO if they have earned the opportunity.
Organisations can no longer afford to separate their ‘employees’ from the ‘humans’ they are in their personal capacity, nor will they be able to separate their business purpose from that of the teams bringing this purpose to life.
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