Comparing Psychosocial Well-being in Italian Family Businesses: Seniors vs. Juniors

Subjective well-being is particularly important in family firms, where it also affects the economic performance of the business. It has been studied in many ways, but no study has considered intergenerational differences in the perceptions of wellbeing of entrepreneurs working together in the firm, an important issue especially when implementing organizational intervention programs. This study explores the psychosocial well-being of senior and junior family members belonging and working in the same family businesses in Northern Italy. Sixty-seven pairs of seniors and juniors participated in this research, completing an online questionnaire between June and November 2019. A snowball sampling technique was used to recruit participants, with seniors playing the central role in selecting their junior counterpart. Participants’ well-being was assessed across several dimensions, including self-esteem, individual well-being and organizational well-being. The results showed significant differences between seniors and juniors in almost all dimensions assessed, with seniors reporting higher levels of self-esteem and organizational well-being. This observation underscores the imperative of acknowledging intergenerational differences when elucidating the landscape of well-being within the intricate fabric of family businesses. Consequently, this study posits the indispensability of integrating intergenerational perspectives into the discourse on the dynamics of well-being in the context of family businesses.