We are delighted to be including the category of Family business in the 2021 IoD Jersey Director of the Year Awards, in recognition of the value these organisations offer, as well as the unique challenges they face. In Jersey we have some fantastic examples of how successful family businesses can be.
Family businesses often have strong sustainability principles, because they want their organisation to be there for their children and grandchildren. The long-term impact of their actions is a major issue. Likewise, they will invest in their local community because that is the place in which they, their neighbours and friends all live.
By being embedded in the Island, and a recognisable human face, that also engenders trust towards a business, an authenticity which can only come from sharing the same values as the society they serve.
There are also challenges. Attracting family members to join the business might not be easy, just ask the farmers in the Island, so succession planning can have added complications. Knowing when to hand over the reins of the business is another issue. Older generations may be reluctant to step away, but younger generations might not want to wait.
Most people, if they have a bad day at the office, can switch off and go home to their families, but when that business is your family’s, it can provide a more complex situation.
Familiarity can be a positive, but it can also be a negative, and when does work end? If you work with your partner, parent or sibling, at what point do you look at them and see a colleague/boss, and when are they your mother, husband or brother?
The Family Business award is looking for a director, who has risen to the particular challenges of a family firm, and the added problems and/or opportunities, caused in the last year by Covid.
Do you or someone you know balance the needs and relationships of the company’s owners with a desire to become more successful? Whether one family is in charge or several families work together, the business leader must have the potential to continue to grow and thrive within the current ownership structure. Emerging leaders in a family business are eligible as long as they demonstrate the right trajectory and ethos of this very important part of the private business community.
This is just one category in this year’s awards, sponsored by Appleby. We want to celebrate leaders in all fields, whether you’re an established business, innovative start-up, NED, Third Sector director or a young director. Entry is free and you do not have to be a member of IoD Jersey to enter.
The full list of categories are:
Equality, Diversity & Inclusion
We have an excellent panel of judges, some of Jersey’s finest directors and former directors from a range of business sectors and backgrounds. The panel will be chaired by Kevin Keen who will be joined by John Henwood MBE, Brendan McMahon, Dr Lesley Dickie, Kate Wright, Kristina Le Feuvre and Tom Hacquoil.
We also hope to celebrate our 2021 Award winners at a black-tie ceremony at the Royal Yacht on Friday September 17th. Tickets for this dinner can be purchased on Eventbrite.
You have until Friday, 11 June to get your nominations in by clicking on “Awards” on the www.IoD.je website.