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Emotional Capital and Sustainability in Family Businesses: Human Resource Management Perspective and Sustainability

Emotional Capital and Sustainability in Family Businesses: Human Resource Management Perspective and Sustainability
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Author(s): José Ignacio Elicegui-Reyes (Universidad de Cádiz, Spain), Jesús Barrena-Martínez (Universidad de Cádiz, Spain) and Pedro M. Romero-Fernández (Universidad de Cádiz, Spain)
Copyright: 2017
Pages: 20
Source title: CSR 2.0 and the New Era of Corporate Citizenship
Source Author(s)/Editor(s): Mark Anthony Camilleri (University of Malta, Malta)
DOI: 10.4018/978-1-5225-1842-6.ch012

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Abstract

Currently, family businesses are facing huge competition and economic difficulties aggravated further by the present crisis in which companies are immersed. Additionally, the lack of a specialized human resource management function in these kinds of firms makes an efficient process of generational change difficult, which represents a major challenge for the sustainability of these organizations. The links between family and their emotional ties are, in this regard, an important aspect to consider in human resource management. This chapter examines, in theoretical terms, how emotional capital can be a key factor, not only for attracting and retaining talent, but also for ensuring competitiveness in economic, social and environmental aspects, and therefore its sustainability, understood as a balance of economic, social and environmental performances.

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