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How to deal with family management company?

Management Control
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Question added by Naseer Hashim Sadeq Al Taweel , Group Business Development Manager - BSC Mechanical Engineering , Sardar Group-Open
Date Posted: 2015/05/01
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Manoj Jain
by Manoj Jain , Governance Manager , Nawah Energy Company

  1. Don't put family members on the payroll if they're not working in the company or can't make a real contribution to the business.
  2. Don't create two classes of employees—family vs. non-family.
  3. Communicate honestly and openly with employees.
  4. Don't confuse family decisions and business decisions.
  5. Establish healthy boundaries between family and business.
  6. Use family councils to address family matters. 

 

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