Family business owners strategize for longevity in new certificate program

Workers review documents while standing in front of items on a store shelf

For Joseph Astrachan, a co-author of Cornell’s Family Business Leadership online certificate program, a family-run business is a generational tradition. Since Astrachan was young, his family has operated businesses in fields ranging from pharmaceuticals to shipping. He is no stranger to the difficulties that come with owning a company tied to the fabric of a family, including managing close relationships in the face of business challenges.

With Daniel Van Der Vliet, executive director of the Smith Family Business Initiative within the Cornell SC Johnson College of Business, John Engels, president and CEO of Leadership Coaching Inc. and Holly Isdale ‘86, founder of WealthHaven, Astrachan has blended academic theory and industry practice in a certificate program that helps others navigate the obstacles and opportunities of running a family business successfully.

“There is no way around it: Navigating a family business is distinctly different from the traditional corporate model,” said Astrachan, a Professor Emeritus and former executive director of the Cox Family Enterprise Center at Kennesaw State University’s Coles College of Business.

The certificate program uses a hands-on approach to address how the personal and professional overlap in family businesses. Courses include:

  • Family Business Leadership Fundamentals
  • Managing Family Relationships
  • Stewarding Family Wealth and Values
  • Implementing Family Governance Systems

Just like with any other business, management in a family-run venture evolves over time. For family businesses, there is often an added layer of grief associated with leadership changes. Sometimes assumed agreements and familial relationships complicate these transitions.

“Continuing a family-run business requires perpetuation through transition, passing it from one generation to the next,” Van Der Vliet said in a recent conversation with eCornell. “Even though all business begins with family . . . some of this expertise around family business does not exist in academia. Family business is very specialized.”

To help learners understand the nuances, the Family Business Leadership program combines advisory parties – like lawyers and accountants – and family members into one cohesive group of learners. The courses organize behaviors in family businesses into familiar workplace relationships and help make sense of common patterned dynamics. Learners gain practical insights they can immediately apply to their own operations.

“Family members are not asked to share anything deeply personal,” Van Der Vliet said. “Their projects could become more personal if they choose, which can be beneficial for their takeaways from the course… and for those that are not family members in the family business, on the advisory or service side, they can have an opportunity to realize [how family dynamics] broadly affect the company.”

Discover how to manage relationships, steward wealth and implement governance structures in Cornell’s Family Business Leadership certificate program. Learn more and enroll now.

Quotes have been edited for clarity.

3 strategies to optimize executive pay in your organization

Executives make a deal with a handshake over a desk

Well-structured executive compensation packages can attract talented leaders to C-suite and top-tier management positions. Companies must consider the impact those offers might have on their employees and businesses.

Providing a clear rationale for high-level salaries and benefits supports employee productivity and morale throughout an organization. Getting it wrong can have a detrimental impact on company culture and can also lead to fines, sanctions, tax penalties, lawsuits or reputational damage.

LizAnn Eisen, faculty director for the Cornell Tech Board of Directors Forum and acting professor of the practice at Cornell Law School and Cornell Tech, recently hosted a Cornell Keynote discussion of executive pay featuring Jessica McNamara ‘96, senior counsel at IBM, and Jennifer Conway, a partner at Davis Polk. The trio covered strategies for ensuring an organization’s pay structures align with regulatory requirements and best practices for perks, clawback and noncompetes.

1. Prioritize transparency and cross-team alignment on perks.

The crescendoing call for transparency in executive pay calculations includes non-cash benefits, or perks, such as travel on company aircraft, personal security and country club memberships. Corporate leadership teams can sometimes find it difficult to distinguish business expenses from disclosable perks.

“The SEC (U.S. Securities and Exchange Commission) considers a personal benefit to be a perk unless it’s integrally and directly related to the performance of duties,” Conway said. “If it’s a perk, then it has to be valued based on the aggregate incremental cost to the company — the cost of providing the perk — which sounds simple, but it can actually be very complicated.”

While SEC rules apply only to public companies, the Internal Revenue Service (IRS) monitors all businesses for non-cash, in-kind fringe benefits provided to any worker in exchange for services, focusing on whether employers are properly reporting employee income. A taxable fringe benefit requires imputing income based on fair market value.

Both SEC enforcement action for inadequate perk disclosure, which the commission sees as a possible breakdown of internal controls, and audit activity from the IRS regarding personal trips reported as business travel have increased recently.

When dealing with the two different sets of federal standards for perks, McNamara advises that companies make sure their practice is robust using three key steps:

  • Have clear written policies and approval processes applicable to benefits like the use of corporate aircraft.
  • Maintain a detailed record-keeping system and automate inputs when possible.
  • Do monthly and year-end reviews with all key stakeholders, including administrative assistants and human resources, legal and tax departments.

2. Understand the latest rules on compensation recovery.

Last fall, the SEC adopted the final clawback rule mandated by the Dodd-Frank Act. The act subjects erroneously paid compensation to recovery and applies to top officers of a company. The no-fault component of the rule is new: Even if an executive had no role in their organization’s misstatement of finances, their excess compensation tied to meeting performance or revenue goals now could be subject to recovery.

In restatement processes, some areas for repayment like performance-based bonuses should be apparent, but retirement plan contributions and payments based on stock-price changes could slip through the cracks. The risk for litigation, according to Conway, makes it important for businesses to be thorough.

“Given the complexity, it’s important to work with outside counsel,” she said. “It’s also helpful to make sure that you’re correctly calculating what’s subject to recovery.”

To ensure that its executives are aware of the new clawback rules, IBM’s legal team added language regarding recovery and repayment provisions to its equity award agreements, McNamara said.

3. Prepare for a future that may not include noncompetes.

The Federal Trade Commission’s recent ruling to end noncompetes is set to take effect in September, but there have been legal challenges to the agency’s authority. From the major questions doctrine to the rule’s retroactivity, every matter of the potential ban is up for debate.

“There’s a good chance that the rule never goes into effect, but it’s definitely important to take very close note of it. On the state level, there is much more momentum to act,” Conway said.

If the ban were to be enforced, it would prohibit any term or condition of employment that intends to prevent a worker from seeking other work once they have left a company. While the rule would be retroactive, an exception applies to a limited group of senior executives who serve in policymaking positions and whose compensation exceeds $150,000 annually.

According to Conway, one of the most significant portions of the new rule impacts noncompetes tied to the sale of a business.

“The final rule does not apply to noncompetes entered into by a person pursuant to a bona fide sale of a business entity, sale of the person’s ownership interest in a business entity or all or substantially all of the business’s operating assets,” Conway said. “That raises a question of how small an ownership might be sufficient. Is it so broad that you could cover somebody with just a small interest in equity of a public company? As the rule is currently drafted, it doesn’t actually impose any sort of threshold.”

For IBM, which has acquired several companies — including many in California where a sale-of-business exception to prohibitions on noncompetes has existed for some time — not having a threshold is important for protecting the good will of businesses that they purchase McNamara said.

Given the litigation challenges, companies do not have to alter their existing practices right now, Conway said, but they can engage in certain activities to prepare for the future:

  • Review restrictive covenants, assess how broadly they apply and consider which ones are necessary.
  • Evaluate “blue pencil” provisions.
  • Include acknowledgements of senior executive status in new noncompetes.
  • Strengthen non-solicit, confidentiality and intellectual property (IP) covenants.
  • Review overall compensation plan structures to ensure they are designed to give employees incentives to stay.

“Once the IP walks out the door and someone starts work the next day for somebody, the only real method [for relief] is an injunction. If the injunction isn’t granted, there’s no equitable relief that can get the IP back. The damage is done,” McNamara said. “The noncompete is a nice way for people to sit out for a period so their information becomes stale. A reasonable rule, even if it applies to a level of technical talent you need to protect . . . would be much more palatable to the business community.”

Visit the eCornell website to watch the full Keynote “Executive Pay in the Spotlight: Perks, Noncompetes and More,” one webcast in a multipart series leading up to the Cornell Tech Board of Directors Forum. The immersive forum will prepare you for today’s most urgent opportunities and challenges in board governance, including AI and other developing technologies. Learn more and register.

Cornell Keynotes podcast: Neurodiversity inclusion policies and practices at work

Employees connect colorful puzzle pieces

Finding the right talent is a top priority for businesses. Building a deep and diverse candidate pool is key in matching open positions with the best employees to fill them.

In a new episode of the Cornell Keynotes podcast from eCornell, Susanne Bruyère, a professor of Disability Studies and academic director of the K. Lisa Yang and Hock E. Tan Institute on Employment and Disability at the Cornell ILR School, joins host Chris Wofford to discuss the growing number of corporate affirmative hiring programs to recruit individuals who are neurodivergent.

Read more on the Chronicle.

Leaders strategize for new corporate environment in Hybrid Work Strategy certificate

Woman sits in an office set up. In front of her, there is a meeting on her monitor with six people displayed.

Since 2020, organizations all over the world have shifted to hybrid work models. This change has forced leaders to reevaluate how remote collaborative processes can still drive organizational culture. Brad Bell , Donna Haeger and Theomary Karamanis , faculty authors of Cornell’s Hybrid Work Strategy Program, spoke to the eCornell team about the challenges and opportunities posed by hybrid work.

Is it possible to replicate an in-person environment in a virtual workspace?

Theomary Karamanis, Senior Lecturer, SC Johnson College of Business: “That’s the biggest mistake that organizations make: They feel that they need to simulate everything that happens organically in an in-person environment into a virtual environment, and you cannot do that. Instead, try to have less live meetings, less synchronous communication and a bit more asynchronous [work]. Live meetings should usually be limited to problem solving, creativity and conflict resolution.”

How does the hybrid work environment affect the leadership structure of an organization?

Brad Bell, Professor, ILR School: “In these semi-remote environments, leaders can’t be as hands-on, they can’t see everything that’s happening, so a lot of the leadership has to be assumed by the team members themselves in these hybrid and remote settings. This opens a gap [inside the organization’s leadership structure]. Someone that is not a leader might look at courses like [Hybrid Work Strategy] and assume they need to be in a management role to benefit from this. But without usual in-office interaction, those concepts and tools have become importantly applicable to both the leaders and the members.”

What can leaders do to ensure that their hybrid organizations are consistently productive?

Donna Haeger, Professor of Practice, SC Johnson College of Business: “Oftentimes at work, whether it’s hybrid or not, everyone’s focused on ‘task, task, task’, ‘get the work done.’ That’s become even more of a pressure because things do become disjointed when people are not colocated . . . An organization’s culture and productivity are tied together. Tasks and relationships, and the synergy between those, are what really create productivity. [Fostering that synergy] is really essential in a hybrid work environment: The research has shown that the stronger the culture, the more productive the workplace will be.”

Begin developing your confidence as a hybrid team leader with eCornell’s Hybrid Work Strategy certificate program. Learn more and enroll now.

Justin Heitzman, an eCornell writing intern, contributed to this post.

Cornell Keynotes podcast: Combining right brain and left brain thinking as inventors, entrepreneurs and intrapreneurs

Outline of the human brain with colorful paper chips inside

The entrepreneurial mindset is for everyone, from aspiring inventors to corporate managers.

In a new episode of the Cornell Keynotes podcast from eCornell, Richard Cahoon, a professor at the Cornell College of Agriculture and Life Sciences, explains how we can combine the creative and analytical parts of our minds—the right brain and left brain—to give our ideas life and longevity.

Read more on the Chronicle.

Navigate Change with eCornell

We know the saying — the only constant in life is change.

Are you prepared to thrive in an ever-changing professional landscape? Being able to navigate change plays a pivotal role in shaping successful careers and organizations. That’s why we’ve designed a diverse range of online certificates and courses, all authored by faculty experts at Cornell University, to equip you with key skills and knowledge needed to pursue change and excel amidst change. 

Here’s a curated list of our programs that support change:

 

1. Change Management Certificate

Learn to anticipate change as a leader and sustain the momentum of your change management initiatives.

  • School: Cornell SC Johnson College of Business
  • Courses: 4 core, 2 elective, plus access to a Live Leadership Symposium
  • Time Commitment: 3 months
  • Faculty Authors: 
    • Cathy Enz, Professor Emeritus, Cornell Nolan School of Hotel Administration
    • Samuel Bacharach, Professor, Cornell ILR School
    • Glen Dowell, Professor, Cornell SC Johnson College of Business
    • Kate Walsh, Dean, Cornell Nolan School of Hotel Administration
    • Jan Katz, Senior Lecturer, Cornell Nolan School of Hotel Administration
    • Risa Mish, Professor, Cornell SC Johnson College of Business
    • Rohit Verma, Professor, Cornell Nolan School of Hotel Administration
    • Angela Noble-Grange, Senior Lecturer, Cornell SC Johnson College of Business
    • Tony Simons, Professor, Cornell SC Johnson College of Business
    • Robert Bloomfield, Professor of Management, Cornell SC Johnson College of Business
    • Christopher Collins, Associate Professor, Cornell ILR School

 

2. Change, Disruption, and Growth Course 

Assess industry disruptions, evaluate organizational responses, and devise strategies for successful adaptation and growth.

  • School: Cornell SC Johnson College of Business
  • Course Length: 2 weeks
  • Faculty Author: Justin Johnson, Professor, Cornell SC Johnson College of Business

 

3. Communication Planning for Change Course 

Analyze audiences affected by anticipated organizational changes and develop a communication plan.

  • School: Cornell SC Johnson College of Business
  • Course Length: 2 weeks
  • Faculty Author: Amy Newman, Senior Lecturer, Cornell SC Johnson College of Business

 

4. DEI: Dialogue for Change Certificate

Gain essential skills and insights for driving diversity, equity, and inclusion initiatives within your organization and community.

  • School: Cornell ILR School
  • Courses: 3 courses plus access to a Live DEI Symposium
  • Time Commitment: 2.5 months
  • Faculty Authors: 
    • Lisa Nishii, Professor and Vice Provost, Cornell ILR School
    • Adi Grabiner-Keinan, Executive Director for Academic DEI Education and Director of the Intergroup Dialogue Project, Cornell ILR School

 

5. Equitable Community Change Certificate 

Learn to manage development and changes across all sectors of society to build more equitable, just, and sustainable communities.

  • School: Cornell ILR School
  • Courses: 6
  • Time Commitment: 3 months
  • Faculty Authors: 
    • Sam Magavern, Senior Policy Fellow, Partnership for the Public Good
    • Russell Weaver, Director of Research, Cornell ILR Buffalo Co-Lab

 

6. Healthcare Change Management Certificate 

Understand, measure, implement, and lead successful change management initiatives in the healthcare sector.

  • School: Cornell Jeb E. Brooks School of Public Policy
  • Courses: 4 courses plus access to a Live Leadership Symposium
  • Time Commitment: 2 months
  • Faculty Author: Nick A. Fabrizio, Senior Lecturer, Cornell Jeb E. Brooks School of Public Policy

7. Leading Organizational Change Course

Explore your own leadership style and practice skills to translate transformative ideas into organizational results.

  • School: Cornell ILR School
  • Course Length: 2 weeks
  • Faculty Author: Samuel Bacharach, Professor, Cornell ILR School

 

8. Leading Strategic Change Initiatives Course

Cultivate your ability to assess the need for strategic change within your organization.

  • School: Cornell Nolan School of Hotel Administration
  • Course Length: 2 weeks
  • Faculty Author: Cathy Enz, Professor Emeritus, Cornell Nolan School of Hotel Administration

 

9. Making Strategic Change Happen Course 

Assess organizational readiness to effectively carry out change initiatives that drive growth and success.

  • Course Length: 2 weeks
  • Faculty Author: Cathy Enz, Professor Emeritus, Cornell Nolan School of Hotel Administration

 

Whether you’re looking to advance your career, drive organizational transformation, or make a positive impact in your community, we’re here to support your journey.

Cornell Keynotes podcast: The American South braces for a huge unionization push

Auto worker using tools on metal car parts

Will auto industry unionization in Tennessee and Alabama galvanize a new labor movement in the South?

In a new episode of the Cornell Keynotes podcast from eCornell, Andrew Wolf, a professor of global labor and work at Cornell’s ILR School, joins host Chris Wofford to discuss the opportunities and challenges ahead for both auto manufacturing companies and labor organizers.

Unionization is shaking up the auto industry, delivering meaningful gains toward fair pay and other benefits for workers in the U.S. The efforts are particularly significant in the South where a legacy of racist labor laws continues to propagate disparity within the workforce.

Listen to Episode 32: “The American South Braces for a Huge Unionization Push” and read more on the Chronicle.

eCornell joins the Guild & Team USA Learning Network to support athletes

Laptop user sitting in hammock on the beach

By Molly Israel

Through the Guild and Team USA Learning Network, eCornell will be the preferred provider of professional education for Team USA over the next five years. The collaboration is designed to connect Team USA athletes—including Olympic and Paralympic athletes and hopefuls—with eCornell’s professional certificate programs that can help them build new skills off the field and propel their careers beyond athletics.

eCornell’s flexible, online certificate programs are uniquely suited to support Team USA athletes. 43% of Team USA athletes report working full or part-time jobs while training and the average age at which a Team USA athlete ends their Olympic or Paralympic career is 28.

“eCornell is proud to collaborate with Guild to support Team USA athletes,” said Paul Krause, vice provost of external education and executive director of eCornell. “Our professional certificate programs blend Cornell’s impactful education with online flexibility, empowering athletes to forge new career paths and transition seamlessly to what’s next.”

Read more on the Cornell Chronicle.

Cornell public health certificate closes 8 primary skill gaps for students

Recent global events have underscored a pressing truth: our ever-expanding interactions with the natural world can lead to unforeseen health challenges. At the juncture of urban development, climate change and health concerns, the unprecedented COVID-19 pandemic raised the necessity to strengthen our public health infrastructure.

Through its new Public Health Essentials online certificate program, Cornell seeks to help leaders proactively address today’s global health challenges.

“COVID-19 came and showed us that our public health workforce was underprepared and that our public health systems were not equipped to detect and respond to an emerging pandemic,” said Gen Meredith, associate professor of public and ecosystem health and associate director of the Cornell Master of Public Health (MPH) Program.

Meredith, co-author of the university’s Public Health Essentials certificate program with Alexander Travis, professor and MPH program director, developed the coursework to address real-world applications for health professionals, community health advocates, volunteers and other emerging leaders in public health. The program begins with the basic foundations of public health, including the latest terminology, and moves into topics such as driving action with data and supporting behaviors that prevent disease. Courses include:

  • Public Health Foundations
  • Assessing and Implementing Public Health
  • Using Public Health Data for Action
  • Supporting Public Health Behaviors
  • Public Health Preparedness

Participants complete the facilitator-guided online program with a cohort of fellow professionals within four months. Research from Meredith, Travis and coauthors from the MPH program shows significant improvement among learners across eight critical skill areas: systems and strategic thinking; community engagement; cross-sectoral partnership; policy engagement; diversity, equity and inclusion; data-informed decision making, effective communication and programmatic expertise.

“The way that globalization is happening around the world and the way that humans are using the natural environment around us is creating real risk for the emergence of new diseases, and this comes at a time when humans are already vulnerable because of chronic diseases and other environmental conditions we are facing on a day-to-day basis,” said Meredith.

The Public Health Essentials program intends to drive actions that contribute to disease prevention and global community well-being. In earning the certificate, leaders can gain new knowledge and skills to navigate the complexities of worldwide health challenges, strengthen healthcare systems and enhance preparedness.

Enroll in Cornell’s Public Health Essentials certificate program to explore the global challenges alongside best practices from experts.

Success After Service: The Veteran’s Guide to Choosing an Online Certificate Program

Soldier in Army shirt works at laptop computer

By Teresa Duncan, Ph.D., CSM(R), Director of Military Programs at eCornell

Transitioning from active duty to civilian life can lead to a profound sense of fulfillment and significant challenges. Many veterans are equipped with industry-specific service experience, but complex job markets still often present obstacles to employment.

Online certificate programs offer veterans opportunities to acquire new skills and knowledge, demonstrate commitment to particular career fields and build networks of like-minded leaders – all essential factors in securing professional roles. However, selecting the right program is key. Here are four questions veterans should consider when determining which online education programs would be most valuable for their future.

Does the program align with my background and goals?

Leveraging current skills can be advantageous in the effort to bridge the gap between military experience and civilian job requirements. For example, if a veteran has experience in logistics, a program in supply chain management or project leadership might be a natural fit.

It is important to understand the options. In evaluating course content, prerequisites and outcomes, a veteran may find unexpected alignment with goals that diverge from their background and sync with their transferable skills. A former Army civil affairs specialist might excel in a PR strategy certificate program that covers crisis communication planning or discover new ways to lead through an international public and NGO management program.

To choose the best path, it is valuable to first complete a self-assessment of strengths and areas for growth, then list short- and long-term career objectives. The program a veteran selects should align with the needs and goals they identify.

Is the program flexible enough to fit my schedule and lifestyle?

Online learning makes professional development more accessible than ever. The most popular types of online learning models include:

100% Asynchronous – This on-demand style of learning is the most flexible. Learners can complete assignments at any time, and there is no direct interaction with faculty, industry specialists or peers to discuss ideas or answer questions. Without additional structure, some learners find it difficult to complete the courses or apply what they learn without support.

Asynchronous and interactive – This model permits students to log in and learn at their convenience while connecting learners to professionals and peers. There may be requirements to complete assignments through discussion boards with classmates. Plus, instructors are on hand to give feedback and help students stay on track to apply what they learn to their current or future jobs.

Synchronous – This style is the least flexible and most interactive. Courses are delivered live by instructors, and learners must attend at specific times to participate.

It can be helpful for veterans to explore programs with self-paced options or accommodations for irregular schedules. The selected program should also match their individual learning style and offer a multitude of instructional approaches, including video lectures, downloadable guides, discussion forums and peer collaboration.

Will I receive academic support to complete the program?

Resource access is a significant consideration for any educational venture. Students should be able to reach advisors or facilitators in the virtual learning environment as easily as they could by visiting their physical offices. When searching for the right-fit online certificate, veterans should ensure there are clear methods for learners to contact staff who can offer guidance on the course materials, answer questions or address technical issues.

Veterans may also take their team-oriented experience into account and select programs that offer cohort-based learning, study groups or symposiums. Peer interactions can provide camaraderie and motivation to complete complex assignments and offer an expanded network that learners can tap into throughout their careers.

It is also necessary to assess financial resources. Programs that accept veteran benefits or offer payment plans are better for budgets and vital to maintaining other economic aspects of the transition to a civilian lifestyle.

How will the program advance my career or improve my prospects for the future?

As technology continues to transform business and hiring practices, it is more important to stand out in the pool of candidates with advanced education or training from reputable institutions. The most beneficial online certificate programs for veterans will deliver content developed by distinguished faculty and industry experts, course tools that can be used on the job and credits toward professional certifications. These advantages empower vets to tie their military service to current specialized skills that employers need.

Ultimately, a certificate is a valued addition to a resume. Completing an online learning program is also a gateway to building the confidence, connections, and qualifications that shape lives beyond the workplace.

Would an asynchronous and interactive online certificate program align with your goals? If so, Cornell University provides more than 130 online certificate programs that can help you upskill as you serve or prepare to transition. Cornell was recently named the #1 Best College for Veterans by U.S. News & World Report, and its online programs are directly authored by Cornell faculty and guided by professional industry facilitators. Small cohorts enable students to develop valuable connections that position them for success in a variety of fields. You can get started today with Credentialing Assistance or VA education benefits. Learn more at ecornell.cornell.edu.

Watch “Cornell’s Military History: A Legacy of Service.”