You have raised them from birth. You love them dearly. But do you really want them working for you? This is a decision that is fraught with numerous financial and emotional implications, especially when multiple children are involved.
The following questions can help guide you through the decision-making process:
- Are you inviting them to join for your satisfaction or theirs?
- Is the business better off with them or without them?
- How strong are sibling relationships and can they withstand the pressure?
- Can you choose between children for promotions, increased responsibility and different compensation?
- Will these decisions harm your relationship with them or between them?
- Are you capable of terminating a family member if it doesn't work out?