Let’s Talk About a Sensitive Subject — Compensation in Family-Owned Businesses

Let’s Talk About a Sensitive Subject — Compensation in Family-Owned Businesses

August 23 | 1:00 – 2:00 PM CT

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Details

Family-owned businesses of all sizes and in all industries face unique challenges that arise from the need to balance professional and family relationships and the desire to avoid conflict. Given the broad spectrum of family business types, there’s no single compensation strategy that’s effective for all. However, there are some best practices that are fundamental to the success of all.

In this webinar, Kaitlyn Erb Hesseler, Consultant at CMA Global, and Hal Wallach, Director of Executive Compensation at CBIZ, discuss the common compensation challenges faced by family businesses, universal best practices and how to establish and implement an equitable pay strategy. 


You'll learn:
  • How to balance family dynamics with compensating each employed family member market competitively
  • Common barriers to starting conversations about compensation and the benefits of addressing these issues early on
  • Strategies for managing conflict and the emotional aspects involved in executing a family business compensation strategy
  • The impacts of ownership structure on short- and long-term incentive plan design
  • Practical recommendations for compensating the Board of Directors (family and non-family)

Speakers:

Hal Wallach


Hal Wallach
Director of Executive Compensation
CBIZ Talent & Compensation Solutions


 

Kaitlyn Erb Hesseler


Kaitlyn Erb Hesseler
Consultant
CMA Global