Faith & Family Business
The younger generation's contribution to family wealth (Genesis 30: 29-30)
Welcome to my weekly Faith and Family Business reflections, where I (briefly) probe important questions that arise in family business – questions relating to behavior, relationships and legacy – from the angle of a Biblical story. For more information about this series, click here.
After his youngest son was born, Jacob asked his father-in-law Laban to allow him to return to his homeland with his wives and livestock.
Jacob said to him, “You yourself know how I have served you, and how your livestock has fared with me. For you had little before I came, and it has increased abundantly, and the Lord has blessed you wherever I turned. But now when shall I provide for my own household also?” (Gen. 30: 29-30)
Jacob had worked for Laban for around twenty years, during which time Laban’s wealth had increased tremendously. Laban acknowledges that he has been blessed because of Jacob, and tells him to name his wages. (The last time Laban told Jacob to “name his wages,” Laban tricked him. Laban again reverts to deception to cheat Jacob out of his wages, but that’s for another reflection!)
Not everyone wants to work in the family enterprise, but the hope - and often the reality - is that younger generation members who participate in the family business contribute significantly to its success. The wealth of the senior generation, and the entire family, often increases because of the commitment, intelligence, diverse thinking, new ideas, and work ethic of those who return.
Has the younger generation made an important contribution to your family business or family wealth? How have you celebrated their return and their commitment?
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