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Should you fire your child from the family business?

Multiple generations within a family business can work well together; however there are times when a family member isn’t the best fit for the role…. Many family businesses face the reality of a child working in the business who performs poorly and they may want to fire. The situation might arise because the business did not have the proper guidelines in place regarding hiring and performance evaluation of family members. In other cases, the child may have no interest in running the business. The consequences of firing a family member often reach beyond the business and continue to be part of the family dynamic forever.

This on-demand webinar will offer strategies for preserving the family legacy and relationship. Participants will hear a firsthand account of how one family business faced multi-generational family issues and navigated through to success.

Join Gary Plaster, Family Business Strategist Leader from Baker Tilly; Greg Monday, Corporate Law and Trusts and Estates practice, Reinhart Boerner Van Deuren; Pete Vogel, CEO and fourth-generation owner of Vogel Bros. Building Co.; along with moderator Barbara Spector, Editor-in-Chief and Associate Publisher, Family Business Magazine, as they share practical ways to avoid and/or resolve the complexities of working with your children.

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For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

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