Startup & Entrepreneurship

Reward and Motivate Family and Non-Family Employees

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
Study Time

This practical training program is designed with:

16 hours training - 2 days

Schedule

New York
3,500 $
04 Apr & 05 Apr 2023

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