There are so many reasons why parents employ their children. It could be the inability of their kids to snag jobs in the labour market or a ploy to cut costs in their establishments. Whatever the reason, is it really a smart business move for parents to employ their children?
While it may be viewed as nepotism on some levels, employing your kids is not without its benefits. As a business strategy, employing your children could come with several financial benefits, as well as benefits on a personal level. As a business owner or as the head of a company, you could be reaping many valuable benefits from having your child(ren) aboard.
The benefits of employing your child(ren)
Having an inside man
Employing your child gives you the opportunity to penetrate your workforce. You can get better knowledge of your staff through your child who would act as your eyes and ears on the inside. Many would like to pretend that they wouldn’t want their children to spy for them but the truth is that it is rather inevitable.
Getting value for your money
Employees will never be as committed to your goals as you are. The only other best bet would be an offspring. This means that while other employees might not bring their ‘a-game’ to the table, your child would be all-in. the commitment of your child could also motivate others to work harder.
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Impacting strong work ethics and values
Working in close quarters with your child gives you room to properly groom him/her with strong business ethics and values. You’d be able to instill practical principles in him/her and also discipline them accordingly. This will become handy if in a few years plan you choose to leave him/her with the business. Then you’d be certain that they are properly trained to take over.
Employing your child at an early age gives them the exposure they need in the business world. On their own, they will be able to distinguish between ‘wants’ and ‘needs’. They’ll be able to handle important decisions and they’ll understand the need for hard work and effort.
Established career path
The skills and experience your child would garner from working with you could very well set them on a well established career path. They’d also have the opportunity to network in case they choose to venture into another line of business.
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All kinds of conflicts could arise from employing your child. The members of your staff might not be welcoming as they might question the qualifications of your child. It might just seem like nepotism. To avoid some of these conflicts:
- ensure not to give your child any special privileges;
- they should do the job they are paid for and should face the same consequences as others when they default;
- be fair in their payments. Don’t underpay them just because you are their parent;
- Keep track of their accomplishments and have all the necessary documents as other staffs;
- remember that at work you’re the boss not ‘mom’ or ‘dad’; and
- don’t bend any rules to suit them.
[Read Also: How to keep your small scale business running]
There might be other areas we didn’t cover but these should be sufficient o guide you in the right direction when it comes to employing your child.