The Politics of Trying to Work With Relatives
Delaware Business Review
by Howard H. Simon, CPA and Jill R. Lock
Simon Master & Sidlow, P.A.
Relatives working in a family business can help the company flourish if certain considerations are given.By adhering to certain rules and guidelines both the relative and the business have a better opportunity to prosper.
When hiring a relative, certain rules must be set and enforced at the onset.The rules should be stated clearly, communicated honestly and applied fairly to all relatives.
The formation of the guidelines depends upon the family’s philosophy, mission, size, industry and resources available.Those guidelines must be consistent with the family’s values. More…