Reply To: Retention in Family Business

#103115

Chris King
Participant

Is the member of the family also a shareholder/member of the company?

Is it possible to identify and address the perceived or actual shortcomings of the family member?

offer training or other education to that family member to bring them in line with the expected skill set.

Management must do their homework on what the required skill set is. The family member can then be advised that other members of ownership are actually doing their fiduciary duty to the shareholders/members of the company.

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