Family Around the Holidays

Family Around the Holidays

By: Kendall Rawls | 5,209 Reads | 3 Shares

Family Around the Holidays

%3Cp%3EThe+holidays+are+upon+us+and+for+many+multi-unit+franchisee+owners%2C+family+and+friends+are+not+only+top+of+mind+as+it+relates+to+gathering+and+celebrating+the+season+but+are+also+part+of+the+workplace+family.+This+time+of+year%2C+sensitivities+are+heightened+around+how+family+and+friends+get+along+and+this+can+impact+relationships+and+work+productivity.%3C%2Fp%3E%0D%0A%3Cp%3EWorking+with+multi-unit+franchisee+owners%2C+we+often+hear+comments+regarding+family+being+defined+as+only+those+who+are+blood+related.+In+fact%2C+what+we+advise+those+clients+that+those+who+are+involved+in+the+business+-+or+impacted+by+the+business+-+are+also+what+we+consider+%22family.%22+For+example%2C+staff%2C+business+partners%2C+and+long-term+loyal+employees+are+examples+of+the+different+shapes+and+sizes+we+consider+family.+The+love%2C+dedication%2C+and+commitment+to+these+relationships+is+no+different+than+those+we+have+with+our+blood+family.+What+is+different+is+the+emphasis+we+sometimes+put+on+how+those+relationships+also+impact+us+at+home+and+at+work.%3C%2Fp%3E%0D%0A%3Cp%3EThe+relationships+you+have+with+those+in+your+formal+and+informal+family+have+a+positive+or+negative+impact+on+the+achievement+of+your+business+goals%2C+productivity%2C+and+long-term+planning.+In+times+such+as+the+holidays%2C+stress+can+impact+relationships%2C+which+can+work+against+the+aforementioned+areas+of+the+future+of+your+organization.+Conflicting+cultures+or+views%2C+harmony%2C+and+unity+are+often+a+by-product+of+the+commitment%2C+dedication%2C+and+sacrifice+franchise+owners+put+into+their+relationships.%3C%2Fp%3E%0D%0A%3Cp%3EThe+good+news+is+that+the+holidays+can+be+a+positive+and+non-stress+time+of+year+for+those+that+have+family+and+friends+involved+in+the+business.+Of+course%2C+we+cannot+alleviate+the+stress+of+the+holidays+themselves%2C+but+we+work+with+franchise+owners+to+develop+a+list+of+family+business+policies+to+consider.+Here+are+five+examples+of+policies+to+consider+which+can+help+relieve+future+stress+and+conflict%2C+and+improve+family+and+friend+harmony+at+work+and+at+home%3A%3C%2Fp%3E%0D%0A%3Cul%3E%0D%0A%3Cli%3E%3Cstrong%3EDocument+behavior%2C+attitude%2C+and+performance+expectations%3C%2Fstrong%3E+-+Family+and+friends+involved+in+the+business+need+to+know+in+clear+detail+what+is+expected+of+them+-+don%27t+assume+they+know+-+be+clear+and+document+expectations.%3C%2Fli%3E%0D%0A%3Cli%3E%3Cstrong%3ECreate+compensation+plans%3C%2Fstrong%3E+-+Ensure+that+the+family+or+friend+you+engage+into+your+franchise+business+is+clear+on+their+compensation+package+and+what+they+should+expect+for+their+compensation%2C+benefits%2C+and+perks.%3C%2Fli%3E%0D%0A%3Cli%3E%3Cstrong%3EDevelop+growth+and+advancement+plans%3C%2Fstrong%3E+-+Having+a+growth+and+advancement+plan+in+place+for+your+family+member+ensures+there+is+no+confusion+as+to+their+growth+trajectory+with+your+franchise.%3C%2Fli%3E%0D%0A%3Cli%3E%3Cstrong%3ECreate+a+Family+Governance+Plan%3C%2Fstrong%3E+-+These+are+policies+that+deal+with+how+decisions+are+made+and+having+them+in+place+will+enable+your+family+members+to+know+who+is+involved+in+the+decision-making+processes.%3C%2Fli%3E%0D%0A%3Cli%3E%3Cstrong%3EDocument+criteria+for+stock+ownership%3C%2Fstrong%3E+-+We+find+that+family+members+often+assume+that+because+they+are+family%2C+they+are+entitled+to+ownership+in+the+franchise.+Working+with+franchise+owners+we+hear+the+adverse+that+they+do+not+intend+to+distribute+ownership+%28at+least+at+the+current+time%29.+Therefore+ensure+that+there+is+clear+documentation+stock+ownership+in+your+business.%3C%2Fli%3E%0D%0A%3C%2Ful%3E%0D%0A%3Cp%3EThese+are+just+a+few+examples+of+what+we+recommend+when+working+to+create+unity+and+harmony+with+family+who+might+be+involved+in+the+business.+There+are+many+others+that+could+be+developed%2C+but+consideration+of+these+five+are+a+strong+starting+foundation.+As+you+enter+into+this+holiday+season%2C+consider+your+family+and+friends+that+touch%2C+or+are+impacted+by+your+franchise+ownership.+Would+any+of+these+policy+ideas+help+you+be+more+optimistic+about+your+future+holiday+seasons+or+family+gatherings%3F%3C%2Fp%3E%0D%0A%3Cp+style%3D%22border-top%3A+1px+solid+%23DDDDDD%3B+padding-top%3A+5px%3B%22%3E%26nbsp%3B%3Cem%3E%3Cstrong%3EKendall+Rawls%3C%2Fstrong%3E+knows+and+understands+the+challenges+that+impact+the+success+of+an+entrepreneurial+owned+business.+Her+unique+perspective+comes+not+only+from+her+educational+background%3B+but%2C+more+importantly%2C+from+her+experience+as+a+second-generation+family+member+employee+of+The+Rawls+Group+-+Business+Succession+Planners.+For+more+information%2C+visit+%3Ca+href%3D%22http%3A%2F%2Fwww.rawlsgroup.com%22%3Ewww.rawlsgroup.com%3C%2Fa%3E+or+email+%3Ca+href%3D%22mailto%3Ainfo%40rawlsgroup.com%3Fsubject%3D%22+target%3D%22_blank%22+rel%3D%22noopener%22%3Einfo%40rawlsgroup.com%3C%2Fa%3E.%3C%2Fem%3E%3C%2Fp%3E
Published: December 4th, 2018

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