Family Members Compensation Focus of Center For Family Business Event
By Lori Wright, Media Relations
November 7, 2007
Compensating family members of a family business can be a source of conflict,
miscommunication and misunderstanding, with compensation for members of the
same generation often being the source of many problems.
The UNH Center for Family Business will tackle this sensitive issue at its
next business event. “Solving the Hardest Compensation Dilemma: What
Should Family Members Be Paid?” will be held Wednesday, Nov. 14, at The
Yard Restaurant, Manchester. The event begins at 8 a.m. Lunch is included.
Topics to be covered include:
• How to determine proper compensation for family members.
• How to do evaluations of family members.
• Methods for deferring compensation.
• Knowing when to bring in nonfamily managers.
• Incentives for family and nonfamily including phantom stock, bonuses,
and perks.
Presenters are Thomas Davidow, founder of Thomas Davidow Associates and Genus
Resources; Harvey Widger, principal of Fulcrum Resource Group; and Robert Ravenelle,
a certified public accountant who heads the federal tax practice group at Pierce
Atwood LLP.
Davidow created a methodology to address family issues that typically interfere
with sound business decision making. He is often asked to assist families with
the sensitive issue of compensation. Widger specializes in working with owners
of businesses to help them recruit, hire, and structure compensation plans
for family and nonfamily that are fair and motivate performance. Ravenelle
regularly assists family businesses with succession planning, including the
use of deferred compensation as a tool to effect transfers of ownership.
RSVP to Barbara Draper at 2-1107, or barbara.draper@unh.edu. The program is
free to members. There is a special one-time nonmember registration fee $99
per person, $250 per family. Make checks payable to UNH. Send registration
to the Center for Family Business, University of New Hampshire, 6 Garrison
Lane Verrette House, Durham, NH 03824
The center, under the UNH Whittemore School of Business and Economics and
the UNH Graduate School, is sponsored by Mass Mutual Financial Group, Thomas
Davidow Associates, Baker Newman & Noyes, Pierce Atwood, MPI Management
Planning, Inc., and Ocean Bank. It is a membership program to provide owners
and managers of entrepreneurial businesses with an opportunity to exchange
ideas and information and to discuss business challenges, concerns, and solutions.
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