How close is too close? Having a close relationship with your staff can be beneficial in multiple ways. It can also be costly, depending on the nature of that relationship. Whether illicit or not, trust placed in staff and long-time employees cannot afford to be blind. Family businesses can experience the betrayal of a trusted employee who may have served the family well for 30 years or more. Financial irresponsibility can be a factor in such cases. It can also be a factor for advisors and their firms.
Increasing your savvy
in the hiring process and also in working with those on whom you depend to make your business function are becoming imperative components of operating a successful business. It doesn’t mean no one can be trusted; it simply means that trust is continually built based on disclosure and prudent oversight to back up a person’s word and a handshake.
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