Human Resources in the Family Business (Maximizing the Power of Your People)

The tricky issues faced by family businesses are often centered on people – both in and out of the family – and involve multiple, complex, interrelated systems with many nuances. How these situations are addressed will dramatically influence the enterprise's culture and performance, as well as family relationships now and into the future.

Human Resources in the Family Business shows how HR practices can help family firms achieve their values-driven goals as a family and a business. Filled with case studies, frameworks and practical tools, this book addresses how to successfully anticipate and manage people issues and opportunities including:

• How to maximize the value of the HR function as a strategic business partner with family owners and business leaders.

• How HR can build on a conscious culture of success from the family owners' vision and values.

• How to employ family members in the business in a way that works best for the family, business and individuals.

• When and where HR should interface with the family and how that is best accomplished.

• How to recruit, interview and hire the best talent, balancing the needs of both family and nonfamily members.

• How to manage employee exits effectively, especially those of family members.

• How to handle sensitive issues such as underperforming family employees, compensation, substance abuse, etc.

Perhaps more than in any other type of company, a thoughtful, holistic approach to human resources in the family business – and its continuous evolution – is a critical contributor to long-term success.