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Much has already been written about the health, economic and imminent social crisis set in motion by COVID-19. It is and will remain a defining event of the 21st century.
We are far from the end of this crisis. And yet the level of maturity achieved in just a few months by these representatives of the Next Gen is remarkable. We asked 27 young people from Luxembourg’s family businesses to tell us about their experiences, feelings and hopes for the future.
Philippe Depoorter, Family Practice Leader, and Anne Goedert, Family Practice Senior Adviser, summarise the main points of the survey.
Why carry out a survey of the Next Gen in family businesses?
What started as a wish to let the Next Gen speak became almost a necessity, as we recognised the importance of hearing from them. We wanted to analyse and understand how the Next Gen in family businesses had coped with lockdown and understand their views on the impact of the crisis on their generation, the family and the business.
Who are these young family business leaders?
Aged 25 - 35, they are all sons and daughters of families in business in Luxembourg. Their profiles vary: some are already in managerial positions, some have just joined the business and are still finding their role, and some have not yet joined the business. We also interviewed young people who, as yet, have no desire to enter the family business.
What are the key takeaways on how young people are handling the crisis?
Our intention was to create a ‘snapshot’ of this generation as they exit lockdown, but we have ended up with a portrait.
The survey ‘E WAKE-UP CALL FIR JIDDEREEN’ (A wake-up call for everyone), available in French, sketches a diverse portrait of young people from families in business. Throughout the interviews, we see how this unprecedented crisis has caused them to grow and, in many cases, ‘grow up’... while it has put years on others.
Explore the survey ‘E WAKE-UP CALL FIR JIDDEREEN’ (A wake-up call for everyone).
The document is available in French. Feel free to share your reactions and order your copy using the link below.