Introduction
This practical training program is designed with:
- 16 hours training
- 03 months one-on-one coaching
How you will benefit
By the end of the program, participants will be able to rational approaches to an emotional topic of Reward and Motivate Family and Non-Family Employees
Who should attend
Families in Business: From Generation to Generation is intended for teams of business family members, such as:
- A chief executive officer [or top family business leader(s)] and his or her spouse
- Children of the business leader(s) and their spouses
- Siblings and their spouses/partners
- Cousins and their spouses/partners
These family members might be:
- A manager or an employee
- A board member
- A shareholder
- An interested relative, who may be an in-law
What you will cover
Module 1: Understanding Family Business Compensation
- Compensation in a family-owned business: How to make it work
- Are you paying too much-or too little?
- Paying more for family contributions ... without going too far
- Salaries, gifts and dividends: Do you know the difference?
Module 2: Implementing a New Compensation System
- How to structure a compensation system
- Human resources strategy for the family firm
- Reviewing compensation policies and procedures
- Adapting salary survey to the family business
Module 3: Family, Values and Money
- Guiding principles for family enterprises: Employment, performance management and compensation
- Employee evaluations and promotions in the family firm
- Achieving competitive advantage through performance management
- Uses and abuses of perquisites in family-owned businesses
Module 4: Challenges for Siblings and Cousins
- Reconciling pay differences between first and second generation
- Partners, fairness and compensation
- When compensation divides siblings
Module 5: Attracting, Retaining, Motivating Non-Family Employees
- Compensation in changing labor markets
- Deferred compensation retains key non-family executives
- Pay me now or pay me later: Tax considerations for privately held businesses
- Attract key people while increasing shareholder value
- Taking stock of equity incentive plans
- Is an ESOP appropriate for your company?
Module 6: Developing an Incentive Compensation System
- Think before you commit to incentive compensation
- Variable compensation for family businesses
Module 7: Obtaining Compensation Advice
- Compensating family company boards
- A formula for paying your outside directors
- Why form a compensation committee?
- Choosing a family-friendly compensation consultant
Module 8: Pay for Family Stakeholders
- How to pay yourself more and deduct it, too
- Fair compensation for women in family firms
- Hiring your kids for the summer
- Seeing bonuses in a larger framework
- Motivating relatives to strengthen the family's legacy
- Dividend policy in perspective