By Richard M. Segal
Jan. 5, 2012
It seems that most of us can be divided into two broad categories on our attitudes about this time of year – you either love it, or hate it. No doubt that the holidays bring on momentous stress for many, and extreme joy for others. We are almost a bi-polar culture on this issue and there ought to be a treatment to soften this disorder. And maybe there is if you are part of a family business.
The Mania
This is a time for family and friends – good times and gratefulness! Holiday meals, company parties, presents and well wishes fill our collective psyche. We take time off to prepare our homes; we visit friends and family offering well wishes. Many step up their charitable efforts, some donate time to those less fortunate. Christmas Day and New Year’s Day have become the only two days of the year when almost everything is closed and there is little excuse to avoid the family festivities. (Since the demise of the Sunday drive and Sunday dinner, these days are to be cherished.)
The Depression
Many become depressed during the holidays because of a loneliness created by not having those family and friends cherished by others. Some become depressed because they have never gotten the concept that giving is more rewarding than receiving. But probably most get depressed because the Holidays just never live up to expectations and therefore bring on disappointment. Managing expectations at this time of year can be the key to Holiday Success!
The Set-Up
If you are a family business stakeholder, you need to understand the delicate balance between the family and the business. It is best to set some clear lines of demarcation – especially around family gatherings and events.
Unfortunately “the holidays” come at the end of the calendar year and so does financial year-end closings for many companies. In fact, many entities are required to use the calendar year as a financial year. Here is the set up: probably the most stressful time company for management is superimposed on the holidays.
What happens at the family holiday gathering when the bonuses fall short of the family employee’s expectations? Suppose how the spouse feels when the holidays have been “shorted” for her family by the bonus decision made by the in-laws… and now must put on the happy face at the holiday dinner! Or, conversely, how might the company CEO feel when the company didn’t have the kind of year that provided bonuses for those she loves? Planning a year-end closings is stressful at best – employee evaluations, bonus decisions, tax preparation, client appreciations, company parties, etc. Please don’t dismiss the company parties as a stress factor because many managers find them a pressure cooker to do the “right thing” and never really get there.