As far as we are concerned there is no alternative.  Failure to grow professionally can lead to a whole myriad of challenges down the line but as the article explains, family firms in Singapore are having to wrestle with the realisation that they made need to bring in external, non-family talent to help further growth too.

Recruiting, retaining and motivating staff is a challenge for family firms the world over but as long as there is an appropriate structure and reward is clearly defined for performance, firms can find the right resources to take the business to the next level.

Bringing in external talent does need a shift change in attitudes internally and there may be some cultural change as things may be done differently but there is always room to bring the family values, heritage and beliefs into the fray.  Open dialogue, clear communication from the start and the right measurement frameworks can also help.