Bechtel and the American Foundation for Suicide Prevention have announced a new, multiyear partnership dedicated to saving lives in the construction community lost to suicide. Bechtel’s $7 million dollar commitment to the American Foundation for Suicide Prevention will provide critical resources and programming to 500,000 US construction workers over the next five years. Bechtel and the American Foundation for Suicide Prevention (AFSP) today announced a new, multiyear partnership dedicated to saving lives in the construction community lost to suicide. The initiative was unveiled this morning in Washington, D.C., at an event focused on raising awareness, educating stakeholders on this crisis, and beginning to build a coalition to prevent construction worker suicides. The new partnership will reach 500,000 US construction workers over five years through industry-specific programs and resources developed by Bechtel and AFSP. The $7 million, five-year commitment to AFSP to fund the effort is the largest-ever pledge received by AFSP and the largest single donation ever made by the Bechtel Group Foundation. “This is the start of a long-term, sustained effort to lift up the whole construction community. We want to see mental health become as much of a priority as physical safety in our industry,” said Brendan Bechtel, chairman and CEO of Bechtel. “It’s our belief that addressing suicide in construction is as vital as wearing a hard hat on site. This is the next frontier in taking care of each other.” The construction industry has one of the highest suicide rates of any profession in the US. In fact, the number of suicides in the industry is nearly five times higher than the number of lives lost in jobsite safety incidents, according to data from the Centers for Disease Control and Prevention and the US Bureau of Labor Statistics, respectively. The initiative will leverage Bechtel’s industry knowledge and reach in combination with AFSP’s expertise in research, education, and effective prevention strategies, as well as its national network of local chapters. Bechtel welcomes participation from others in the industry, as this partnership forms a construction working group and a first-ever senior advisory council to help guide the effort. “We know we cannot meet this challenge alone. Real change will take all of us. We want to build an industry-wide effort, and we are actively encouraging others in construction to join us,” added Brendan Bechtel. “The partnership with Bechtel is the first of its kind for AFSP, and we are thrilled to be collaborating with an industry leader that is focused on improving the mental health of the construction industry as a whole,” said Robert Gebbia, CEO of AFSP. “We’re excited to be building a team within AFSP dedicated to this important initiative aimed at reaching thousands of people in need and preventing suicide.” “All of us who work in construction have seen gains in physical safety that were once unimaginable, become the standard for success,” said Sean McGarvey, president of North America’s Building Trades Unions, who also spoke at today’s event. “It’s time to bring the same mindset, resources, and innovation to the issue of mental health and suicide prevention.”

The Santa Clara Valley Transportation Authority (VTA) has selected Bechtel Infrastructure Corporation to provide construction management services for the Bay Area Rapid Transit’s (BART) Silicon Valley Phase II extension, a project which will connect North San Jose and Santa Clara residents with the Bay Area’s iconic transportation system. The new rail line will be the largest single public infrastructure project ever constructed in Santa Clara County, and by 2040, is expected to carry nearly 55,000 passengers each weekday. BART’s Phase II consists of a six-mile extension with four new stations and five-and-a-half miles of tunnel, linking San Jose area riders to the rest of the system. Bechtel Infrastructure Corporation has executed a 10-year contract to manage BART’s Phase II extension and begin overseeing construction later this year. "This latest rail extension will provide a fast and convenient transit alternative for major commute corridors,” said Bechtel Infrastructure Corporation Senior Vice President, Kelvin Sims. “We’re proud to be partnering with VTA again to help deliver this significant project for the area." "We are pleased to have Bechtel, one of the original designers and builders of the first phase of the project, on board to construct the final extension for BART riders visiting, living, or working in San Jose,” said Tom Maguire, Chief Megaprojects Officer, VTA. “One-third of upcoming growth in the San Francisco Bay Area is expected to occur in and around San Jose and this extension further into the Silicon Valley will support that growth and continue to connect the region." This latest contract adds to Bechtel’s 125-year history in California, where the company has had a presence since 1898. Bechtel, as part of a joint venture, led the design and construction of the original BART system, which went on to form the backbone of the Bay Area’s public transport infrastructure. Bechtel also oversaw the engineering and construction of Phase I of the Silicon Valley Line, which first welcomed passengers in 2020. "This is a great opportunity to continue the Bechtel, VTA and BART success story and add to our company’s legacy in California,” said Bechtel’s General Manager of California Infrastructure, Zeyad Hakam. “We look forward to strengthening our relationships in the communities around the state as we begin work on this project."

Bechtel, Delivery Management Partner (DMP) for the Tunnel and Station Excavation (TSE) Works Package, part of the Sydney Metro City & Southwest (CSW) project, congratulates our customer, Sydney Metro, on the successful opening of this line. As the second of four metro sections to open, this route connects Tallawong in Sydney’s northwest, under the harbour, through to the CBD and onto Sydenham, transforming how Sydney’s 5.4 million residents move around the city. Featured is part of the 15.5-kilometre tunneling component of the new line during the construction phase. Jacob Mumm, General Manager, Bechtel Public Infrastructure said: “There’s no feeling quite like it — opening a new railway line to the public, making new connections, and energising a city with clean, reliable and affordable transportation.” “Thank you to all our Bechtel colleagues who led the 15.5-kilometre tunnelling component of the new line. And congratulations to our customer Sydney Metro for growing Australia’s biggest public transportation project which will, when complete, total four lines and 46 stations, connecting the city centre with the suburbs.” Seven years in the making, the new M1 North West & Bankstown Line completes a key component of Sydney Metro’s mission to connect communities and locations, improving the quality of life and work in Sydney. Featuring newly added stations and platforms, the Sydney Metro now extends to 21 stops from Tallawong and Sydenham, offering substantial advantages to both customers and local communities. A fleet of 45 metro trains will operate 445 new services daily, with the ability to transport approximately 34,000 passengers per hour during peak periods. Additionally, Sydney Metro is Australia’s first fully automated rail system, anticipated to run metro services every four minutes during peak times. New stations include Crows Nest, Victoria Cross, Barangaroo, Martin Place, Pitt Street and Waterloo, with new underground platforms at Central Station. A final section of the metro will connect Sydenham to Bankstown and is due for completion in 2025. Bechtel continues work as a partner on the third phase of the project, the Sydney Metro West, which will connect the Sydney Central Business District to Parramatta. This work builds on Bechtel’s 70-year history of delivering complex mega projects in Australia. Aside from roles on major infrastructure, including the Western Sydney International Airport, where material from this metro line’s excavation process was used to build a base for the new runway, Bechtel has delivered a number of liquified natural gas projects at Curtis Island, Queensland, and Wheatstone Western Australia, as well as significant work in mining across the country.

Bechtel is proud to announce its selection by Rio Tinto to lead the design and construction of Copperton Phase 2 Solar, a significant renewable energy facility that will support operations at Rio Tinto’s Kennecott mine in Utah, one of the largest open-pit copper mines in the world. This project marks Bechtel’s first collaboration with Rio Tinto in the renewable energy sector and reinforces Rio Tinto’s commitment to achieving net-zero emissions by 2050. The Copperton Phase 2 Solar project underscores both companies’ dedication to sustainable practices and the advancement of clean energy solutions in mining. Scott Austin, Bechtel’s General Manager of Renewables & Clean Power said: “We are pleased to build on our longstanding partnership with Rio Tinto by expanding into clean energy. This project demonstrates climate commitments in action, and we look forward to working together on this innovative renewable power solution.” When completed in late 2025, the Copperton Phase 2 Solar project will span 210 acres and generate 25 MW of power from 71,000 highly efficient bifacial solar modules. Bifacial solar modules enable both sides of the panels to absorb sunlight. Additionally, Bechtel will leverage its proprietary and award-winning digital delivery methods to design, construct and commission the facility, incorporating autonomous technologies to optimize project delivery. At peak, 100 local construction jobs are expected to be created on the project. Rio Tinto Kennecott Managing Director Nate Foster commented: “Expanding our solar farm is the latest step in our journey to reduce our carbon footprint. Together with other measures we’ve taken, such as closing a coal-fired power plant, deploying battery electric vehicles underground, and our recent transition to renewable diesel, we have reduced our emissions by millions of tons over the past few years. We’re demonstrating every day that sustainable practices and resource production can go hand-in-hand to benefit our company as well as our community.” The new solar plant will be located next to Kennecott’s existing 5MW solar plant. Together, the two solar plants will reduce Kennecott’s Scope 2 emissions by approximately 6%, or 21,000 tons of carbon dioxide equivalent every year. This is equivalent to removing around 5,000 gas-powered cars from the road.

Walmart and Sustainable Beef LLC announced recently that Walmart signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company based in North Platte, Nebraska. Walmart’s equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef LLC’s new beef processing facility. This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business. As part of the investment, Walmart will also have representation on Sustainable Beef’s board. Walmart’s investment will help Sustainable Beef LLC open their beef processing facility in North Platte, Neb. The facility is expected to break ground next month and open by late 2024, creating more than 800 new jobs. Walmart’s work with Sustainable Beef LLC will create more capacity for the beef industry. “At Walmart, we are dedicated to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef LLC will give us even more access to these products,” said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood, Walmart U.S. “We know Sustainable Beef LLC has a responsible approach to beef processing, one that includes creating long-term growth for cattle ranchers and family farmers. This investment provides greater visibility into the beef supply chain and complements Walmart’s regeneration commitment to improve grazing management.” Sustainable Beef LLC will work with cattle feeders and ranchers to understand critical elements of the supply chain cycle, such as grain sourcing and grazing management. Animal care will follow the Five Freedoms, and there will be a consistent approach to antibiotic use and reporting across herds in line with Walmart’s Position on Antibiotics in Animals, which asks suppliers to adopt and implement American Veterinary Medical Association Judicious Use Principles of Antimicrobials. All of these components will help Sustainable Beef LLC to improve and refine the beef supply chain to provide quality beef for our customers. “We set out on a journey two years ago to create a new beef processing plant to add some capacity to the industry and provide an opportunity for producers to integrate their business of raising quality cattle with the beef processing portion of the industry and do it in a sustainable manner, said David Briggs, CEO of Sustainable Beef LLC. “During this journey we found that Sustainable Beef and Walmart aligned on continuing to improve how we care for our animals and crops and provide consumers the positive experience of enjoying quality beef.”

PepsiCo and Walmart have announced a 7-year collaboration to pursue $120 million worth of investments focused on supporting US and Canadian farmers in their pursuit to improve soil health and water quality. By establishing and scaling financial, agronomic and social programs, it aims to enable and accelerate the adoption of regenerative agriculture practices on more than 2 million acres of farmland and deliver approximately 4 million metric tons of greenhouse gas (GHG) emission reductions and removals by 2030 – roughly equivalent to the amount of electricity needed to power 778,300 homes for one year.  Commenting on the voluntary adoption of regenerative agriculture practices, Jeff Huffman, owner and operator of Island Farms LLC in Maxwell, Neb., said, “From my perspective, embracing regenerative agriculture is essential. It’s good for farmers, not only because it’s beneficial to the environment and our food quality, but also for the profitability of our businesses. If you use less fertiliser and you grow a bigger crop, or if you use less water and can still grow the same size of crop, it strengthens your farm in a way that benefits the bottom line and our environment for generations to come.” PepsiCo’s and Walmart’s businesses are dependent on farmers to grow ingredients that are used to make the delicious products consumers enjoy every day. With a supply chain for the two companies that stretches across North America and involves a large volume of critical crops – including potatoes, oats, corn, wheat, soybeans and rice – sustainability will look different from commodity to commodity, region to region and even farm to farm. The collaboration between PepsiCo and Walmart offers a voluntary, flexible approach to regenerative agriculture that gives farmers a seat at the table, recognises the diversity of agriculture and that one size does not fit all. “Successful sustainability starts and ends with trust. At PepsiCo, we work very hard to earn the trust of the farmer so they understand that we are investing in their legacy, and they can hand their farm down to the next generation,” said Jim Andrew, Chief Sustainability Officer, PepsiCo. “Farmers know their business better than anyone else, and what we hear from them is that for regenerative agriculture to make business sense, three things need to happen. They need economic support, social and cultural support, and agronomic support. This strategic collaboration with Walmart will advance our shared goal to have farmers’ backs as they transform farming in a way that benefits the planet and people.” “At Walmart, our sustainability strategy is built to make the everyday choice the sustainable choice for our customers,” said Jane Ewing, Senior Vice President for sustainability at Walmart. “This collaboration with PepsiCo is a great example of how we are prioritizing the expansion of regenerative agricultural practices among farmers across North America so that we can continue to make quality products affordable and accessible for customers." "This collaboration aims to help elevate farmer livelihoods, engage them on how to more sustainably manage soil health, increase yields and create a model that others can mimic across other product categories, including encouraging additional investments in regenerative agriculture by other brands.” PepsiCo and Walmart have a shared focus on supporting farming communities while improving soil and water health, as well as lowering carbon emissions. As the largest convenient food and beverage company in North America, a resilient food system is essential to PepsiCo's business and its ability to meet its ambitious  pep+ (PepsiCo Positive) goals, which include driving the adoption of regenerative agriculture practices across 7 million acres by 2030 – an area approximately the size of PepsiCo's agricultural footprint – and reducing absolute GHG emissions by more than 40% across its entire value chain by 2030 (against a 2015 baseline) while striving toward net-zero emissions by 2040. “This effort is a new model for PepsiCo, marking our first, large-scale strategic collaboration focused on sustainable agriculture with a retail partner,” said Steven Williams, Chief Executive Officer, PepsiCo Foods North America. “Farmers are critical to our business, and many of the brands our consumers know and love rely on ingredients that we source straight from the farm. By joining forces with Walmart, we’ll be empowering farmers through education, upfront investment in outcomes, peer coaching and cost-sharing – and hopefully inspiring others to join us.” This effort is a key example of how Walmart is prioritizing purposeful collaborations to accelerate the adoption of regenerative practices in line with its goal to protect, restore or more sustainably manage 50 million acres of land and 1 million square miles of ocean by 2030 along with the Walmart Foundation.

Sixth generation Coopers family member, Iain Cooper, has joined the brewery. Iain has recently returned from overseas to take up the position of Technical Brewer at Australia’s largest independent family-owned brewery. An internationally qualified brewer, Iain has worked for the past 3.5 years with Carlsberg in Copenhagen, focusing on malt research and honing his craft brewing skills. Coopers has a partnership with Carlsberg, brewing and distributing its pilsners in Australia. Iain started work in May at Coopers’ Regency Park brewery, located in his home state of South Australia, joining its brewing team in producing some of the country’s best loved beer. “It’s great to be back in Australia working alongside such familiar faces,” Iain said. “The brewery has been such a big part of my life from as long as I can remember." “Growing up I watched and listened intently to my dad and grandfather as they worked at the brewery and discussed the business at the family table." “I worked in the school holidays assembling home-brew kits and helping with Christmas deliveries, but I wasn’t always sure I’d end up joining the family business.” Iain, who has a strong interest in film, initially completed a degree in media and economics at the University of NSW, before later deciding to formally pursue his passion for brewing. “I had always enjoyed experimenting with home-brews and wanted to develop my skills and knowledge,” he said. “Any family member keen to join the brewery is strongly encouraged to first earn their stripes outside the business. So, I headed overseas to do just that.” Iain spent time in Edinburgh working with various local breweries and studying a Master of Science in brewing and distilling. “I then moved to Copenhagen where I became immersed in the science and technical aspects of brewing, and managed a pilot malting plant,” he said. “It’s been a steep learning curve and I’m now looking forward to contributing to the family business alongside our world-class brewing team." “I’m really excited about what lies ahead for our brewery, particularly with construction underway of the new visitor centre, microbrewery and whisky distillery." “Australian beer has a strong reputation on the world stage, and I’m pleased to say that Coopers is at the forefront in terms of quality and taste." “A lot of that comes down to the ingredients we source and the skills of our dedicated brewers. I’m hoping I can help continue that tradition.” Iain is the latest sixth-generation family member to join Coopers Brewery. His cousin Andrew Cooper (son of company Chairman Glenn Cooper) is the brewery’s Export Beer Manager, while Iain’s sister Louise Cooper is the brewery’s Strategic Development Manager. Coopers Managing Director and Chief Brewer, Dr Tim Cooper, Iain’s father, said he was proud to see his son continuing the strong family brewing tradition. “Iain has developed his own unique style and approach to brewing and demonstrated a real commitment to the craft,” Dr Cooper said. “It’s great to see Iain now join Louise and Andrew as sixth-generation family members here at Coopers, which all bodes well for the long-term future of our company.”

Fifth-generation family member, Melanie Cooper, has been appointed as the Chair of Australia’s largest independent family-owned brewery, Coopers. Mel becomes the first female Chair of Coopers Brewery in its 161-year history and takes over from Glenn Cooper who is stepping down in December after nearly 22 years in the position. At the same time, Andrew Cooper will be appointed to the Board – the first sixth-generation family member to become a Director of the company. Mel Cooper is currently Director of Finance and Corporate Affairs at Coopers Brewery, as well as Chair of its charitable arm, the Coopers Brewery Foundation. She has been a Director on the Coopers Board since 2009. “I’m honoured to become Chair of Coopers Brewery,” Mel said. “I’m very proud to have seen how the Brewery has grown and evolved since I first joined the company in 1985. As Australia’s largest independent family-owned brewery, we have a unique position in the beer industry and a strong reputation to uphold. With major developments and initiatives underway at the Brewery, and a vision for future growth, we’re in the midst of a truly exciting time for Coopers." “Our industry faces opportunities and challenges. I hold a positive outlook and look forward to working closely with my fellow Directors and senior leadership team along this journey.” Glenn Cooper, a fifth-generation family member who started with the Brewery more than 34 years ago, has announced his decision to step down as Chair. “I feel it is time for generational change and commencement of the transition to the sixth-generation,” Glenn said. “Fortunately, we have enthusiastic sixth-generation family members who are supportive of the Brewery as it moves into a new era. However, when you’re a Cooper, you never really retire from being an advocate of this great Australian company.” Andrew Cooper, a sixth-generation family member with over 17 years’ business experience in domestic and international markets, will become a Director of Coopers. “I’m thrilled to be joining the Board to continue the stewardship of our family company into the sixth-generation,” Andrew said. Coopers Managing Director Dr Tim Cooper said the new appointments ensured Coopers maintained a strong, skilled and experienced Board of Directors. “In Mel, Coopers has an insightful and highly respected Chair with a strong commitment to corporate governance. She has a passion for nurturing both the legacy and the culture of our family business, and we congratulate Mel on her appointment,” he said. “We thank Glenn for his enthusiastic commitment and his dedicated contribution over more than three decades. He has always been and remains a passionate supporter of the Brewery. We welcome Andrew as a Director. Andrew has proven himself to be an astute and highly capable professional and will be a valuable addition to the Board.” The new look Coopers Board of Directors will comprise Mel Cooper, Dr Tim Cooper, Dr James Cooper, Andrew Cooper, Cam Pearce and Rob Chapman. Louise Cooper will take on Mel’s former (non-Director) role of Company Secretary.

A former South Australian Premier and a sixth-generation family member have been appointed to the Board of the Coopers Foundation. Steven Marshall and Bec Cooper have joined the Board of Governors of the charitable foundation established in 2006 by Coopers Brewery and the Cooper family. Steven Marshall served as the 46th Premier of South Australia from 2018 to 2022. After 14 years of dedicated service, he left Parliament in February 2024. A recipient of the Centenary of Federation Medal in 2001 for his services to the disability sector, Steven is also Chair of the Australian Advisory Council for MITRE. Bec Cooper has worked in the advertising and fashion industries, and currently operates a veterinary practice for racehorses which she co-founded. The daughter of Coopers Foundation Chair Mel Cooper, Bec has worked at the Brewery in various casual roles and supported the Foundation over the past 10 years. Mel said. “Steven and Bec both have a strong commitment to community service in line with the Foundation’s aim to improve the quality of lives of Australians in need." “Throughout his whole career, and most notably during his time as Premier and a member of Parliament, Steven has given tireless service to the community. Steven also comes from a family business background and shares the high value our family places on philanthropy." “Bec is the first of the sixth generation of the Cooper family to join the Foundation Board. Bec has been actively involved with the Foundation’s fundraising work for over a decade and I’m delighted to see the next generation continuing the family’s charitable work.” The Coopers Foundation continues to grow. The total amount of funds it has donated is now more than $7.8 million, with 260 charities having received financial support since its inception. The two new appointments come as Haydn Duffield and Rear Admiral Hon Kevin Scarce retire as Governors on the Board. A founding Board member, Haydn also served on the Foundation’s Investment Committee. Kevin joined the Foundation Board in 2014 after serving as Governor of South Australia. “Haydn played a pivotal role in shaping the Foundation’s mission from the outset and his leadership has been highly valued throughout his 18 years of service,” Mel said. “Kevin joined us with vast knowledge of the charity sector and his wise counsel and dedication has been instrumental in strengthening the Foundation's community impact. “Both men have left a legacy that will continue to shape the Foundation's work for years to come and for which we are forever grateful.”

Assets are the most crucial element on the balance sheet of every firm. Be it a physical asset or an intellectual asset, every organization plans for its protection and growth. Having more focus on continuity and long-term planning – the important aspects of a family-owned enterprise mandate it for these organizations to develop a productive plan for the growth of the left-hand side of their balance sheet. One of the key assets of any family-owned enterprise which is absent from the balance sheet is their human capital – the family members of the business. Such businesses can always provide the platform to nurture their upcoming generations as an intellectual asset. That’s why, it’s very important to formally structure the policies for the training, induction, delegation of roles, formalizing the hierarchy and planning the compensation plans in alignment with their performance accordingly. Here are a couple of examples that can help to preserve and flourish the human capital of family owned firms: Family Owned Venture Capital Invested In Next Generation Startups Families let their next generation pursue careers in the field of their interest. Let’s refer to a case study of a textile factory owner has two sons and a daughter; the eldest son willingly joined his father’s business, whereas his younger son who completed his undergraduate degree in software engineering wanted to initiate a software development start-up. The founding owner, the father of the two sons, gave his younger son a task to come up with a tech-based solution for the factory to automate the management functions like inventory management and accounts management. Once he deployed the software, he gained confidence and requested his father to invest in the start-up company – a venture for which he had a business plan. His elder brother came up with a solution that it will be a family investment through venture capital. As the lead person will be younger brother, he will be allocated working partner shareholding, while the rest of the proportion will be based on the family shareholding. In this way investment in human capital will lead them in taking steps in the diversification of family investments. Family Members Stock Option Tagged To Their Performances Employee stock option is the performance rewarding tool adopted by many corporations. Similar to that, executive family members can be offered family members stock options. The class of such shareholding could be different from the family firm owners. The benefits of family members stock option are improved performance of the executive family member, debates like “what extra I am getting for my efforts from the growth of the company as compared to my other siblings?” will be successfully countered and most importantly the next generation will be motivated to join their family business. To sum up, since the family firms have features such as the long term sustainability, transfer of legacy as well as ownership, these entities should focus more on options to invest in human capital for its continuity, sustainability and growth which will in return be beneficial for the family owned businesses.

For some individuals, working in a family business can be an incredible gift. For others, the family business is a prison, without any chance of parole. For those who are feeling trapped in the family business, ownership of the business is more burden than pleasure. The freedom that their family business allows is overshadowed by a lack of business process and clear structure. Having their name on the door is not worth being “on call” 24/7, or never being able to really take a vacation. Sometimes it is easy to know that we are trapped…we feel it. However, other times, it might not be clear. Perhaps we have a vague sense of something that’s just not quite right. So, we hunt for clues. Answering the following questions can help shine a light on some of these clues: If I wanted, could I leave the business without destroying family relationships? Have I developed skills in the family business that are translatable? Do I know what I have to offer to a career outside of the business? Would the family business go on without me? Do my parents (or other relatives) have financial means beyond family business income? Do I have clear professional goals or ambitions? Have I ever worked outside of the family business as an adult? Have I outgrown any need to prove myself to a parent(s) through my work in the family business? The more you answer “no” to these questions, the more likely you are to be trapped. Individuals who are trapped are in need of help and support, but most importantly, the ability to separate themselves and their individual goals and development from the family business. For those who grow up in family-owned enterprises, and have only worked in that business, it can become difficult to differentiate one’s own needs from those of the family. Often, there is an “all-hands-on-deck” approach to business operations, leaving little opportunity for individual exploration of alternative career paths. For those in these types of situations, years can go by quickly and easily without challenging oneself to pursue less comfortable and challenging paths. Having worked with many individuals in their 30s and 40s who have had similar experiences and found themselves unsure of their strengths, interests, and career goals because they spent their adulthood simply focused on keeping their family’s business successful. They become strangers to themselves and fail to fully explore all they are capable of and interested in. One of the many case studies in my book, Trapped in the Family Business, highlights “Debbie:” Debbie and her brother, John, had worked in the family business since they were teenagers. Her father’s retail chain was a tremendous success, and both Debbie and John continued to work there during breaks from college. After four years of working full time in various parts of the business, John left to follow his dream of a career in engineering. Debbie did not have clear career interests, so she stayed. Though she had been able to work successfully with her father during her eight years in the business, Debbie yearned for complete control. One spring day, her father asked her into his office to meet three people who had agreed to buy the business. Debbie was completely caught off guard. She and her father had never discussed his retirement, but she thought at the very least that her father would explore the possibility of a family purchase or partial gifting of the business. Debbie felt horrible. She believed that her father ultimately did not have faith in her and that he didn’t think she could run the business. Debbie had spent much of her childhood trying to get her father’s attention, as he was most often tied up with the business and her brother’s athletics. She thought this sudden sale was another example of her father’s ignoring her and her capabilities. A friend suggested that, if she was serious, she should approach her father directly about buying the business. Debbie thought this would show her father she was serious and could actually be a success. So she found a business consultant, put a plan together, and approached her father. It took convincing, but after they worked out key issues, her father was sold. Debbie had gotten just what she wanted. Unfortunately, while Debbie and her consultant had done a great job creating a business plan, she failed to ask herself if this was what she truly wanted or if other factors were at play. After just eighteen months, Debbie lost her spirit and energy and realized that she had pursued this venture primarily because of her need to prove herself to her father, not because she wanted to be a small-business owner. If Debbie had been able to take a step back, and look at the following questions, she would have better equipped to consider their professional development and make short-term (and long-term term) decisions that were in her, and the business’, best interest: History : How exactly did I get here? What was my path? Legacy : What does it mean to me to own or work in my family business? Relationships : Who truly matters to me? Which relationships are important to maintain? Career : What do I want to do with my professional life? What do I enjoy, and what is my potential? Of course, arriving at the answers will take much more time than it takes to ask the questions. It will likely take some deep thinking, soul searching, and perhaps even hiring an objective consultant or coach who works only for you, not the business. But the time and effort (and possibly cost) involved is minimal compared to the potential for damage that can result from abrupt and impulsive actions if one were to suddenly exit due to frustration or dissatisfaction. Of course, one can still stay in the business and act out of these emotional needs, thus causing other types of damage to the business and family relationships. One of the most powerful things other family members can do is to make sure that individual growth and satisfaction is attended to regularly. Whether this is accomplished via family councils, family meetings, or dedicated human resources processes for family members, individuals who might otherwise feel trapped will feel instead a great sense of relief knowing that their work and career needs are important to the family and business and will be addressed in a thorough and ongoing way. Regardless of what the genetic lottery hands us at birth, our personal and our professional experiences should result in new insights into who we are and what we are capable of. As our careers progress, we should be able to develop new skills and abilities, as well as discover interests and passions we didn’t know we possessed. Ultimately, our jobs and other professional experiences should guide us towards finding out where are true strengths and talents lie. This goal can be achieved working within family-owned businesses. Unfortunately, development and difficult discussions do not happen soon enough, and so individuals are left feeling that they must leave their family business in order to achieve these goals. However, with effort, outside help, and careful consideration, jobs can be changed, goals can be updated, and development plans created so that working with family becomes an advantage as opposed to a roadblock to career growth. Keep in mind the following considerations related to family business employment issues: Work elsewhere first – There is general agreement among family business consultants that the individual and business benefit when at least 3 years is spent working elsewhere full-time. It instills confidence in the family member that they could survive without the family business. It also brings new ideas and strategies back into the business organically Assessments, assessments, assessments! – Thankfully, there are many online tools that can assist businesses in determining if there is a good fit between individual personality traits and specific job roles. These tests can also be used to understand if the individual will fit in the business in terms of overlapping motivators and values. Consider options – Often, the best fit for a family member is to start a new division of the company, create new products, or seek out new markets. If the entrepreneurial spirit has been passed down from generation to generation (as is often the case), rather than try to put a square peg in a round hole, consider other ways that family members can have some independence, autonomy, and impact. Written job descriptions – Nothing replaces a well-constructed, thorough job description. It provides clarity for future conflicts (e.g. this isn’t my job! Oh yes it is!), as well as makes sure that key conversations about responsibilities and growth happen before working in the business Family councils or family meetings - Much like the spending tie working elsewhere, this is also a strategy agreed upon by most most family business consultants. This commitment to ongoing attention to family members in the business makes sure that the right individuals are in the right jobs, and that their contributions and development is being watched and discussed. Family business traps happen in the dark. These processes make sure there is plenty of light. For some, the family business can absolutely provide an unmatched arena for this type of professional development. Unfortunately, for far too many, the family business stands directly in the way of this – and, as a result, it stands in the way of healthy adult development. About the Author - Michael Klein, PsyD, is the author of Trapped in the Family Business: A Practical Guide to Uncovering and Managing this Hidden Dilemma ( trappedinthefamilybusiness.com ). He holds a doctorate in psychology from The Graduate School of Applied & Professional Psychology, Rutgers University and can be reached at DrMichaelKlein.com . Copyright MK Insights LLC and republished here with the permission of the author.

Managers and business owners know that it is good to build trust within their workplace and amongst teams. Business specialists at TelephoneSystems.Cloud have named five ways to build a trusting relationship amongst employees and senior staff members. Managers should be willing to implement changes and feedback recommended by team members to build a sense of value and support. Being transparent with effective communications will encourage others to feel confident in sharing opinions and provide a level of trust amongst the team. Having an open door policy will mean employees feel comfortable discussing anything and voicing concerns. Another way to build trust in the workplace is to promote diversity and inclusion to remove any barriers that employees may feel. Juliet Moran, founder of TelephoneSystems.Cloud said: “Fostering a trusting relationship amongst your teams and within your workplace is crucial for business development and employee retention." “Trust is the element which underpins all successes of the business more generally, and amongst teams. Without trust, employees will start to become less motivated and productivity levels will drop, which could eventually destroy your business strategies." “It’s important to not only listen to comments and feedback from your employees but to actually act on these opinions and be willing to implement changes." “Being transparent with your colleagues will build a feeling of assurance as well as encouraging others to reciprocate, which can in turn grow your business with valid feedback from others." “Managers should promote diversity within the workplace in order to remove barriers that employees may be experiencing - this will create a sense of trust and allow others to feel comfortable at work." How to build a trusting relationship in the workplace: Open Door Policy Introduce an open door policy to allow employees to feel comfortable and welcome to discuss any complaints, suggestions or concerns to managers. This brings effective and productive communication into the workplace and promotes a healthy culture. Act On Employee Feedback It’s important to not only listen to opinions and comments from employees, but to also act on any feedback. By showing team members that you care and are willing to implement changes, others will feel valued and more likely to support the company. Promote Diversity And Inclusion An inclusive workplace is key in helping employees feel as though they can trust leaders. By embracing and celebrating diversity amongst the team, the company will be able to remove barriers to allow teams to feel able to grow with the business. Be Transparent Communicate with your employees about business trajectories to be as transparent as possible to build a trusting relationship. Being open as a leader will encourage others to feel confident in sharing opinions too. Recognition And Awards Regularly showing appreciation for all employees will help to develop a trusting relationship. Reward teams with promotions and awards, as well as celebrating the small wins. Recognition of others in the workplace will foster trust. “Rewarding employees for their hard work and regularly showing appreciation for your team will foster a caring and reliable environment, which will encourage colleagues to contribute in the best way they can.”