Remuneration System in Family Business – Remunerating Family Members
Remuneration systems in a family-run business are comprised of direct salaries together with all the accompanying benefits: car allowance, insurance, education for employees and their offspring, per diem and other expenses, and occasionally non-formal payments, such as gifts to balance the payments, etc.
- Job description
- Adequate training
- Milestones for promotion
- Performance evaluation
- Performance-dependent remuneration
- Options for family members