Family firms make up anywhere from 80% to 90% of business enterprises in North America.
Wharton provides this insight on the Chief Emotional Officer who provides emotional support in these types of businesses, smoothing out problems, keeping communication open. The Chief Emotional Officer also helps in-laws into the business, protects family traditions and values, and makes sure the family gets together to socialize and have fun.
Often this function is served by the HR department in non-family based firms.
Who does it in your organisation?
