Human Resources Practices in Successful Family Businesses in Puerto Rico: A Pilot Study

Abstract

This study explores the prevalence of human resource processes (HRP) in successful Puerto Rican family businesses. We apply qualitative approach to investigate a sample of prominent companies in Puerto Rico. Results indicate that establishing formal human resource procedures in family businesses is generally a slow process and is largely a function of organizational growth. Our results also suggest that the introduction of formal human resources processes such as recruitment, selection, training, job descriptions among others were related to eventual continuity. We conclude that professionalization of human resources processes is fundamental for continuity and endurance of family businesses in Puerto Rico.