Family Business Matters
- Do you have a Family Business Council?
- Do you have a governance process?
- If not, you need to develop one.
- Consider:
- A purpose, values and vision statement.
- Conflict resolution process.
- Family member employment conditions.
- Stock and ownership transfer process.
- Succession planning.
Hiring
- Develop a complete job analysis and convert it into a position description. Pay careful attention to the essential job requirements and physical demands.
- Create a structure interview questionnaire for each position, limit it to ten to fifteen important questions. Ask each candidate all of the questions.
- Use appropriate assessments to provide you with additional information about the candidates. I use Profiles International assessments because they have the highest job fit reliability and validity. Visit Profiles here
- The United States Department of Labor, Employment and Training Administration has released a document (manual) to help managers and Human Resource (HR) professionals use assessment practices that are the right choice for reaching their organizations' goals. To download this manual, click on the hyperlink below.
- Testing and Assessment: An Employer's Guide To Good Practices
- Use a finalist decisionmaking matrix to select the best overall candidate. Select the most important criteria and the nice "to have" talents, and rank the candidate accordingly.
Terminations
- Most all employers are confronted with the difficult task of releasing employees from their employment obligation.
- Discharge is the employers form of capital punishment.
- Have you given the employee honest and direct feedback about their deficiencies?
- Have these decisions been documented?
- Have performance appraisals stopped the poor performances?
- Has the employee been written up for behavioral problems?
- Has the employee had their "day in court" with you?
- Be sure to give the employee their final check at the termination conference and be gentle but firm with your communication.
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