This post is the fifth in a series on Family Employment Policies.
When family members are hired into the family business, they must understand that they will be paid fairly. Compensation will be at “fair market” rate for the position held. This is important in developing a clear understanding of one’s economic value in the market place. It also avoids the family member getting an inflated view of their contribution.
Does Your Family Business Need Help?
Family Business Matters has extensive experience assisting family businesses. With many decades of experience, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through conferences, continuing education programs, family business retreats, speaking engagements and private family business consulting services, Family Business Matters has assisted more than 450 family-owned businesses around the world chart their way through family business issues of all shapes and sizes.
Contact Us
For more information on how Family Business Matters can help your family business survive and thrive, please contact us today at (970) 948-5077.
