Family Business Compensation
Document Type
Book
Publication Date
12-15-2010
Abstract
Compensation is one of the most discussed items in business. And in a family business it gets personal. Authors Aronoff, McLure and Ward answer the some of the most important questions when it comes to the family-- what is fair pay among family members? How do I determine appropriate pay for my child? What should I pay my shareholders? This book helps leaders develop a philosophy of compensation which includes salaries, benefits and perks. After reading, leaders will be able to develop their own compensation framework that can be applied to anyone in an organization and will relieve decision makers of the burden of developing individual compensation packages. From determining market values to creating incentive plans- this book is essential for all family businesses.