Combinatorial Careers: Career Choices and Intentions among Next-Generation Adults in Large-Scale Family Businesses

• In Event: 20411 - Elites

Abstract

This exploratory study draws on an original survey of next-generation family members associated with large-scale family businesses across multiple countries. The study draws on this data to empirically examine the diversity of single-role and multi-role careers and career intentions within this revealing group. Descriptive analysis identifies the correlates of careers involving an exclusive work relationship with the family business as opposed to non-exclusive work roles involving either entrepreneurship or work roles with other organizations. Multilevel regression models predict the contributions of sociodemographic background, family business characteristics, and family embeddedness to the likelihood of membership in these distinct career role configurations. While the likelihood that a respondent currently works exclusively for the family business depends on the level of family intergenerational communication, the generational gap, and the levels of family business formalization and financialization, the probability of choosing this role in the future covaries instead with other factors such as the work preferences expressed by respondents. Where entrepreneurship is concerned, the size of the generation gap between the respondent and the controlling generation is associated with a lower likelihood of exclusive entrepreneurship. Taken as whole, the findings make clear that, within a group of advantaged young adults subjected to strong cross-pressures vis-à-vis career paths and intentions, exclusive roles share the stage with more complex role configurations.

Authors

• Jeremy Markham Schulz

• John Davis, Cambridge Family Enterprise Group