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Compensating Family Members

In: The Family Business Guide

Author

Listed:
  • Frederick D Lipman

Abstract

Some family businesses take the opposite tack, underpaying family member employees—particularly new ones—to provide them with an incentive to work harder or to help them understand what it means to be poor. The owners sometimes justify undercompensating family employees on the ground that they will ultimately inherit the business and should thus be patient about obtaining the fruits of the business.

Suggested Citation

  • Frederick D Lipman, 2010. "Compensating Family Members," Palgrave Macmillan Books, in: The Family Business Guide, chapter 0, pages 77-83, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-11180-6_6
    DOI: 10.1057/9780230111806_6
    as

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