Some results from CBIA's 2012 Survey of Family Businesses shed light on areas where better education and clearly defined, documented human resources policies may be needed. When asked whether their companies have certain policies or practices in place, survey participants responded:

  • Standard bonus structure60% said yes
  • Formal performance reviews for all employees52%, yes
  • Defined career path by job function/job family/job category79%, no
  • Salary grades for each job function/title68%, no
  • Written job description outlining responsibilities and qualifications for members for the board of directors80%, no
  • Written job descriptions outlining responsibilities, minimum qualifications, and reporting structure for every position in the business51%, yes

Though most family businesses report that family and nonfamily employees are treated equally, a number acknowledge that the rules are, in fact, different when it comes to:

  • Bonuses (27%)
  • Compensation (25%)
  • Termination (22%)
  • Hiring (18%)
  • Performance evaluations (17%)
  • Promotions (16%)

Roughly half of all family businesses surveyed (49%) admit they do not use market reports, labor statistics, the Web, or any other outside sources to determine appropriate salaries for their employees.

More survey results