MBA students are more attracted to the idea of working for a listed company than one that is family-owned according to a new report from consultancy Hill & Knowlton.
The report, Reputation and the War for Talent, shows that, when asked the question "Based on what you have heard or read, do the reputations of any of the following types of companies/organisations make you more or less interested in wanting to work for them", 32% of the students said they were not interested in working for a family firm, compared to only 24% who were.
When asked the same question about publicly-listed companies, 61% said they were interested compared with just 6% who were not.
The report goes on to say that family-owned businesses are failing to build a positive reputation in the same way that publicly listed companies are. Given that 50% of all the students polled said that they considered the reputation of a company to be extremely important when considering where to work, the ramifications for family businesses are clear to see. A further 67% believe that a company that does not have a good reputation will suffer financially.
"In this war for talent there are some very clear winners and losers," the report said. "Publicly-traded companies seem attractive to almost all but the same cannot be said of companies which are family-owned."