NextGen launch new projects

03.11.2016

The events taking place in the FBN world community are plotting vectors for the FBN-Ukraine development as well. This season, in our association we introduced two programs for the next generation of owners – Family Synergy Timeline devoted to the interaction of generations in a family, and TimeLine for practical work with different family’s generations.

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World tendencies

The growth of NextGen has been significant for the last four years comparing to the number of Seniors. The ratio of NextGen grew from 20% to 50%. Regarding this tendency, the FBN-International put emphasis on development of the programs for NextGen. There were more research and training programs dedicated to understanding the business and forming of communications with representatives of the older generation. In the international FBN, they are actively developing the forums format like New Leader Circles – a trusted circle of eight. In these closed meetings, they can confidentially discuss the dynamics of their personal and career development, which is accelerated by the other participants’ control. Professional speakers like successful careerists and the experts of focused specialization are invited to the conferences and summits for NextGen. To tell about the latest trends in business.

Alexander Mikhaylenko, the NextGen leader in FBN-Ukraine, a member of the NextGen International Committee, notes that NextGen members increasingly express their readiness to be integrated into the family business, what in turn changes the communications with parents. Previously, the younger generation’s questions were more superficial, but now the NextGen members start going into details – by their own or assisted by the professionals – when asking, “When and what did we do wrong? Which global trends did we neglect? What has changed in the market or by the consumer and how did our company respond to that?”

Ukrainian realities

The Ukrainian NextGens, as well as their foreign counterparts, soak themselves in the specific problems within family businesses. The most common questions are submitted for the discussion in the community, so that the practical solutions to similar problems could be found.

In our Kyiv event, Alexander Mikhaylenko, the initiator and the author, and Katherine Ostapchuk, an expert on the development of NextGen, presented a new project related to the interaction of generations in the family Family Synergy Timeline. It turns out that if we superposetwo life, one can find a number of points where the interests of the older and younger generations coincide to the maximum. And the most favorable interaction, according to Mikhaylenko, takes place at the age of 15 to 26-30, because later on the second generation can already clearly form its own set of priorities, and the influence of the seniors significantly weakens.

The second significant event that has happened this season is the introduction of TimeLine program, one of the most innovative products of FBN-Ukraine. The project brought together 18 people from six families. The practical work with different family’s generations, their key requirements to each other, and the desire to become more efficient, were emphasized at the first meeting.According to the NextGen leader, the mission of TimeLine is to achieve 50% of successful family businesses transfers from the Seniors to the NextGens. This is despite the fact that in international practice this share does not exceed 20-25% in international. These ambitious performance results can be achieved through the formation of the individual NextGen development and career strategy, building an effective model of communication between generations, as well as the further integration of the next generation in family business.

Personal Achievements

This year, the leader of NextGen in our association Alexander Mikhaylenko entered the international board of NextGen. Together with the four members of the board, Alexander participated in a project aimed at re-launch of the international NextGens’ internship program. This program in the near future will allow any NextGen from Ukraine to train in large international companies, to gain experience both in their field of specialization, and in new directions. “We have simplified the registration process for the program and change the general approach, explains Alexander. – Now companies will declare the positions and the jobs, they are ready to open for traineeship. So, NextGen will have more variations to choose, and the opportunity to prepare for the move to a chosen country in advance”.