Say you have two job offers to consider, one of them from your family’s business. All things being equal, what are the pros and cons of working for the family?“On one hand, I basically grew up in the business, so I had a skill set in business before I even went to college. On the other hand, making my own path in business seemed unlikely,” Bennett says. “After college, I ultimately joined the family business and have no regrets about doing so now.
“Conflicts at work can easily spill over into your personal life, resulting in long-lasting animosity among family members,” Smith agrees. “Conflicts can escalate to the point where they endanger the company, lead to its dissolution or even lead to legal action amongst members of the same family.”“You might get promoted, and there’s no standard to understand if you qualify for the position or were offered the job because you are worth it,” Stern says.
Key to success: boundariesWilliam Vanderbloemen, founder and CEO of executive search firm Vanderbloemen, sums up the situation this way: “The best aspect of working for the family business is that you know the people you’re going to be working with. The worst part? You know the people you’re going to be working with — and there’s no getting away from them when the workday is over.”
The biggest con is that business issues become family issues and family issues become business issues.