Development and Promotion Few sizable family businesses can be adequately run without reliance on non-family professionals. Outsiders bring fresh ideas and specialized expertise, so make it plain to family employees that non-family senior managers will…
Conditions for Hiring and Firing Don’t let family members get the idea that they can sit back and be recruited for cushy jobs. Family members should submit to the same conditions of employment as any…
Purpose of the Employment Policy The purpose of a family employment policy is to set out the procedures, process, and criteria that will govern how members of the family enter and exit from company employment….
Given the fascination – and headlines – devoted to family shenanigans at companies like Adelphia, Imclone, and Martha Stewart Inc., it is no wonder that myths of family business continue to grow. Family businesses have…