Why is my brother paid so much?
It’s time to tackle a common problem in family companies: the compensation of the family CEO.
The story that is relayed usually goes something like this.
“My brother is overpaid. Yes, I know he’s the CEO and he works hard. But he’s not efficient with his time, he doesn’t tell me what he’s doing to strengthen the business, and when I make suggestions for how to improve things, he doesn’t listen to me. We’re paying him a high base salary. No one knows what he takes in the way of a bonus. He says we can’t afford to make big distributions because we need to reinvest in the company. How do we know that? He doesn’t update us about what he’s doing. So tell me, what am I getting for my money? And why is he the center of attention anyway? What about me? It’s not my fault I don’t work in the business.”
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Are you stuck?
When it comes to making decisions together about assets a family owns in common, they become stuck - as the business grows, becomes more complicated, and is worth more. What started as an idea is now a big operation.
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The unique ability team behind your enterprise
Using your Unique Ability involves more than doing an excellent job. Unique Ability goes far beyond being excellent at something. A person can display excellence but not love to do the job. A person can lack passion for the job. Such a person may end up asking himself or herself, "Is this all there is?”
We consider the question - Does your family enterprise run as a unique ability team? and what value is there in doing so?
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Governance for Family Legacy Assets
Many family enterprises own significant assets in addition to the company and many of these assets have far greater rewards than merely financial returns.
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