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

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