Retention in Family Business

This topic contains 2 replies, has 3 voices, and was last updated by  Chris King 1 year, 8 months ago.

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    Fathurrahman Latama

    How do you handle a case of a merger in a family business where one of the management is not capable of their position and he/she is a member of the family?


    Ingrid Holbik

    Business is about being honest and frank. That discussion either in a buy or sell side needs to happen early.


    Chris King

    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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