How To Hire And Work With Family And Survive?
It is legal to hire family members, but you should be aware of the special tax requirements for this situation.
The benefits of working with family include more trust and a sense of dedication to a shared goal, while the downsides are potential damage to the relationship and abuse of power.
To successfully work with family, you must establish clear expectations and boundaries right from the start.
This article is for small business owners considering hiring and working with their own family members.
Working with your family members can be a wonderful way to grow closer and benefit your business – or it can be a frustrating and problematic situation. If you’re considering hiring family members, know that it will take a lot of preparation, dedication and communication to make it work. Before deciding whether to hire a family member, you should understand the pros and cons of doing so and how to hire them the right way.
Should you hire family?
Since family is about as personal as it gets, whether you should hire a family member depends on various factors. The first step is to think carefully about your reasons for working with family. Is it because you genuinely believe they will bring value to your business, or is it because they need a job and you feel obligated to help them? You must also consider your relationship with the family member(s) and whether you think you can maintain a professional relationship at work.
“You’ve worked really hard to get your business where it is today,” said Meaghan Thomas, co-owner of Pinch Spice Market, in an interview with Business News Daily. “You need to be able to trust that your family member takes it as seriously as you do. If you hire a family member that ends up being a bit of a mooch or a slacker – or, on the flip side, you end up being a mean, unsupportive boss to them – you’re going to have problems that could seriously hurt your relationship.”
You want to think about your own goals for your business as well as the goals of your family member. Do they share your goals? Do they have a vision for your business? Having goals and a vision in common can go a long way to promote a good working relationship and make it easier to work professionally with family.
Read more here.
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