Family Business Compensation

CRAIG E. ARONOFF Co-founder, principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.STEPHEN L. McCLURE Principal at the Family Business Consulting Group, Inc. and specializes in family communications and decision making, succession planning and implementation, and governance & management in family firms. JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.

• IntroductionCompensation PhilosophyCompensation 101Special Compensation Issues in Family FirmsDealing with ChallengesBuilding TrustAligning Family Expectations and Compensation PhilosophySummaryAppendixRecommended Reading ResourcesAdditional ResourcesIndex

'Family Business Compensation has the kind of information that is very hard to get anyplace else - especially as it relates to pay in family firms. It is very focused on the pay issues that matter to business owning families, and it is written by people who have earned their stripes consulting with family owned businesses. The compensation strategies are well shaken down and time-tested with real family firms. You don't have to go searching 16 different places to find the best thinking on family business compensation - it's alll here in one place.' - Jim Phillip, President, Phillip's Flowers, Westmont, IL 'I enjoy reading each volume of the Family Business Leadership Series and have recommended them to several of my famiy business-owner friends. Family Business Compensation was so good that I sent six copies to close associates...the authors provide great insight into an issue that threatens most family businesses.' - E. Brooke Lee, III, President, LDG, Inc. Silver Spring, MD, 1999 MassMutual National Family Business of the Year 'These books deserve a place in every business-owning family's library.' - Leon Danco, Cleveland, OH