“Who will take over when I retire?” is the question troubling the leaders of many successful, family owned businesses in the UAE and across the globe. It is natural for Emiratis who have devoted their lives to building a family business to hope that their sons or daughters will want to carry on that work. But what if the next generation shows either no interest or no capability of leading the business?
In many ways this is the price of success. The sons and daughters of successful entrepreneurs have benefited from a privileged lifestyle and have had an education that may have opened up interests and possibilities that cannot be met in a family business. They may not be interested in the commercial world at all and may aspire instead to a career in medicine, science or government. Although this may be a loss to the family business, achievements in these fields should be a source of pride to any Emirati family.
Expecting that the next generation will automatically take over the leadership of the business may be unrealistic, but it is also not always the best direction for the business. A business that limits its leadership to the family risks fishing in a small pool that may not create the breadth of talent required to master the complexities of a modern UAE business.
All businesses need to innovate to survive and prosper. And we know that new ideas and innovations are more likely to come from a diverse leadership with different experiences.
To ensure that the business remains vibrant and responsive to customers, it needs to draw on the skills of outsiders. But recruiting outside professionals to run a family business has its own challenges. Outsiders, particularly if they have grown up in the corporate world outside of the UAE, do not always smoothly transition into an Emirati family business. They often do not understand or even reject the values and practices of these family businesses. Moreover, they can find it difficult to work with family members who are used to an active involvement rather than being passive shareholders.
The best approach is to create opportunities for the employees who already work for the business. I find that I meet employees who have worked for the family and the business for many years. In the GCC region, these employees have often been treated as if they were members of the extended family. Many have been looked after in a way that would never have happened in a corporate environment. I have come across family firms that have paid huge medical bills for employees, flown them halfway across the world to attend family funerals and supported them in many different ways. This has generated in these employees intense loyalties to the family and the business.
Yet in many Emirati family firms these people are overlooked when it comes to selection for leadership roles. Some of the most capable and ambitious employees will, despite their loyalties, conclude that the only way to get on is to move elsewhere. Losing talented people in whom the business has invested and who have demonstrated their capability is a waste when the business could so easily retain them.
Most large organisations now have talent management functions that are responsible for planning and growing talent and ensuring that the organisation has people that it can promote into senior roles. While family companies may not need something so elaborate, they can still adopt some of the practices of talent management such as structured development, career planning and an openness to non-family members in leadership roles.
Despite there being no blood relationship, it is in the interests of UAE family firms to “adopt” talented employees. These employees will have demonstrated their capability, their loyalty to the firm and their commitment to its values. For years they will have been treated as if they were part of the extended family, so why not bring them in? Couples who cannot have children of their own may adopt an orphaned child. Companies that cannot produce family successors could “adopt” orphan managers by treating them as honorary family members.
Stephen Brooks is the director at Oxford Strategic Consulting, which specialises in building human capital across the GCC and in Europe.
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The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The%20Mother%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Niki%20Caro%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Jennifer%20Lopez%2C%20Joseph%20Fiennes%2C%20Gael%20Garcia%20Bernal%2C%20Omari%20Hardwick%20and%20Lucy%20Paez%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Company%20Profile
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The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
Racecard
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
The National selections
6.30pm: Chaddad
7.05pm: Down On Da Bayou
7.40pm: Mass Media
8.15pm: Rafal
8.50pm: Yulong Warrior
9.25pm: Chiefdom
COMPANY%20PROFILE
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From Conquest to Deportation
Jeronim Perovic, Hurst
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Company%20Profile
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SCORES IN BRIEF
New Zealand 153 and 56 for 1 in 22.4 overs at close
Pakistan 227
(Babar 62, Asad 43, Boult 4-54, De Grandhomme 2-30, Patel 2-64)
OTHER IPL BOWLING RECORDS
Best bowling figures: 6-14 – Sohail Tanvir (for Rajasthan Royals against Chennai Super Kings in 2008)
Best average: 16.36 – Andrew Tye
Best economy rate: 6.53 – Sunil Narine
Best strike-rate: 12.83 – Andrew Tye
Best strike-rate in an innings: 1.50 – Suresh Raina (for Chennai Super Kings against Rajasthan Royals in 2011)
Most runs conceded in an innings: 70 – Basil Thampi (for Sunrisers Hyderabad against Royal Challengers Bangalore in 2018)
Most hat-tricks: 3 – Amit Mishra
Most dot-balls: 1,128 – Harbhajan Singh
Most maiden overs bowled: 14 – Praveen Kumar
Most four-wicket hauls: 6 – Sunil Narine
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Two-litre%20four-cylinder%20turbo%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E235hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E350Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Nine-speed%20automatic%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh167%2C500%20(%2445%2C000)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
THE SPECS
Engine: 2.0-litre four-cylinder turbo
Transmission: eight-speed automatic
Power: 258hp at 5,000-6,500rpm
Torque: 400Nm from 1,550-4,400rpm
Fuel economy, combined: 6.4L/100km
Price, base: from D215,000 (Dh230,000 as tested)
On sale: now
Confirmed%20bouts%20(more%20to%20be%20added)
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