Member Thought Leadership
MEMBER:
Rasd
Approximately 90% of the global private sector economy is comprised of family-owned businesses, a trend that extends to the GCC region. These enterprises play a significant role in bolstering the region's gross domestic product, making them indispensable pillars of its economy. Even among larger corporations with revenues exceeding billion, family-owned entities dominate, accounting for up to 70% of all companies in the GCC.
Rasd discusses the unique challenges and opportunities in managing HR for family-owned businesses in the GCC. Some unique challenges include:
- Rescinded employment offers after contract signing and resignation
- Being caught in the crossfire of family feuds & politics
- Being disciplined (up to and including termination) w/out due process
- Lack of clear succession plans
