Family Business Compensation

Paperback | December 15, 2010

byStephen L. Mcclure, John L. Ward, Craig E. Aronoff

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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.

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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 shareho...

Craig E. Aronoff is Co-founder, Principal Consultant, and Chairman of the Board of the Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University. He invented and implemented the membership-based, professional-service-provider sponsored Family Bus...

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Format:PaperbackDimensions:136 pages, 8.33 × 5.56 × 0.31 inPublished:December 15, 2010Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230111033

ISBN - 13:9780230111035

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Table of Contents

I. Introduction * II. Compensation Philosophy * III. Compensation 101 * IV. Special Compensation Issues in Family Firms * V. Dealing with Challenges * VI. Building Trust * VII. Aligning Family Expectations and Compensation Philosophy * VIII. Summary * Appendix * Recommended Reading Resources * Additional Resources * Index

Editorial Reviews

“Family Business Compensation has the kind of information that is very hard to get anyplace else--especially as it relates to pay in family firms.  The compensation strategies are well shaken down and time-tested with real family firms.  You don't have to go searching 16 different places to find the best thinking on family business compensation—it’s all here in one place.”  —Jim Phillip, President, Phillip's Flowers, Westmont, IL “Family Business Compensation was so good that I sent six copies to close associates...the authors provide great insight into an issue that threatens most family businesses.”  —E. Brooke Lee, III, President, LDG, Inc. Silver Spring, MD, 1999 MassMutual National Family Business of the Year