January 19, 2021

Most family businesses gain employment and foresee another good year – La Provincia

Most family businesses gain employment and foresee another good year - La Provincia


The majority of Spanish family businesses (64%) have expanded their workforceduring the last year and an even greater proportion (80%) assure confidence or confidence in the progress of the business for the next year, as reflected in theEuropean Barometer of Family Business, carried out in Spain by KPMG in collaboration with the territorial associations linked to the Family Business Institute. The work comes to conclude that this type of companies is having a nuclear role in the recovery process of the Spanish economy, although they are also advancing concerns about risks linked to the change of technological paradigm (the difficulties to recruit and retain talent). and those associated with national and global political uncertainties.

In the following points the main results that are collected in the Barometer are developed.

Billing

The last one was a favorable year for the progress of family businesses, according to the responses collected by KPMG among the managers. 74% of respondents said they increased their turnover in that time, a rate four points higher than that corresponding to the 2017 survey. It is also a "notably" higher proportion than the European average (64%), it is also exposed in the report.

job

The positive growth differential of the Spanish economy compared to that of theEuropean Unioncontributes to explain these latest data and also the one related to the behavior of employment: 64% of Spanish companies have reinforced their teams with new hires, above the 2017 balance (59%) and the community average (53%). "In the opposite extreme, only 8% of family businesses have reduced personnel", highlights the analysis of KPMG.

Perspectives

The results of the survey lead to the conclusion that, despite the risks of decelerationglobalin the growth envisioned by multilateral observatories (IMFYOECD) and other uncertainties, Spanish family businesses maintain confidence in the strength of their performance. "Although the regulatory, political and commercial scenario of the last year has been marked by uncertainty, both in the local and European markets, eight out of ten Spanish family businesses and seven out of ten European companies have expressed confidence or confidence. in the economic situation of its business for a year ", highlights the work coordinated by Ramón Pueyo Viñuales, partner of KPMG.

Concerns

The Barometer reflects the three major concerns expressed by Spanish businessmen: first, the risk of decreasing profitability, mentioned by 42% of the respondents; the difficulties in recruiting the most demanded professional profiles (38%) and "the political uncertainty that has marked the public calendar in the last three years both internally andglobal"This last option has been selected by 35% of the companies.

Regarding the 2017 survey, the resurgence of concern over the political situation (26% last year) and how the so-called "war for talent" is consolidated as one of the concerns in capital letters is striking. KPMG analyzes it this way: "The urgent need shared by family and non-family companies to undertake processes of digital and technological transformation is at the root of this war for talent." Companies need to recruit professionals with very specific knowledge and skills or train them quickly, in competition with other actors as well. "Family businesses (…) have to manage the difficulties involved, on the one hand, compete with large companies very well positioned as reference employers and, on the other, potential conflicts that may arise when incorporating relevant positions of the company to professionals outside the family ".

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