Some 45 per cent of people believe family businesses have motivated staff, compared to only 9 per cent who believe this to be the case in non-family firms, according to research by insurer MORE TH>N BUSINESS and Warwick Business School.
Mike Bowman, head of business at MORE TH>N, says: ‘Family-run firms are seen as safe, secure, loyal and friendly working environments. Family businesses have a great opportunity to attract some top calibre talent out of the recession, which will put them on the path to success.’
Stephen Roper, professor of enterprise at Warwick Business School, comments: ‘Family businesses are well placed to benefit from the brain drain going on in big businesses, with many talented employees searching out positions that offer family-friendly working environments.’
Of the 1,286 respondents, 44 per cent said family businesses were concerned with staff welfare, compared to 17 per cent for non-family run businesses.
According to the Office for National Statistics, family businesses account for 3 million of the UK’s 4.6 million private sector businesses.