78: Compensation in Family Business: Challenges and Strategies

78: Compensation in Family Business: Challenges and Strategies

Host Aileen Miziolek speaks with Gerry Meyer about navigating the complexities of compensation in family enterprises through the lens of the three-circle model. Their conversation explores the tension between fairness and equality, the importance of role-based pay and formal policies, and how remuneration differs across the business, ownership and family systems. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada [https://familyenterprise.ca/]. Guest bio Gerry has over 40 years of experience in all aspects of business strategy, organizational culture and design, business transition/change management, and Human Resources, as both a practitioner and an advisor, with the last 20 years focused exclusively on family enterprises. He provides advisory services to family enterprises in Canada and the U.S. to founding, active, and next-generation families and non-family executives, covering family, ownership/shareholder and business governance, family dynamics and communication, family vision and values, family constitutions, next-generation development for succession/continuity planning, and optimizing existing family and organizational culture and structures. You can learn more about Gerry Meyer on LinkedIn [https://www.linkedin.com/in/grjmeyer/?originalSubdomain=ca] and on the Blackwood Family Enterprise website [https://www.blackwoodfes.com/gerrymeyer]. Key Takeaways [0:23] Aileen Miziolek welcomes Gerry Meyer and launches the episode by asking him to start the conversation with his perspective on compensation within the lens of the three circles model. [2:07] Gerry acknowledges that compensation is a very complex and delicate subject and that the three circles model can effectively structure the conversation. [3:02] Gerry touches on how the business circle offers the first way to look at the three components of compensation for family members as well as outside parties. [7:41] The equal versus fair perception in family dynamics often drives compensation decisions, and this can lead to difficult outcomes. [9:47] Gerry shares an example from his practice that illustrates the trap of equal remuneration. [12:44] Gerry's bias: pay for the role. He offers a few resources to pinpoint the fair market value of a role. [15:06] Formality is your friend. This saying of Gerry's enables enterprise decisions to remain policy-driven as opposed to people-driven. [16:20] The ownership circle offers a different kind of conversation when it comes to remuneration for people who are active in multiple roles. [21:22] Gerry shares an example of multiple-tier remuneration and dividend allocation from his own practice. [24:11] When it comes to the family circle, Gerry prefers to talk about remuneration versus compensation. He explains why. [26:45] Gerry's thoughts on family counsel member remuneration, knowing that every family is different, and what works in one might not work in another. [29:49] Gerry will be speaking at Symposium 2026 in Vancouver, where he will discuss managing family member performance. [30:54] Aileen Miziolek thanks Gerry Meyer for sharing so much of his knowledge and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC. If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify [https://open.spotify.com/show/3blLgzlyWh2KPtlbrPEhaj], Apple Podcasts [https://podcasts.apple.com/us/podcast/lets-talk-family-enterprise/id1461762424], and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca [fea@familyenterprise.ca]. Mentioned in this episode Symposium 2026 [https://kinnect.familyenterprise.ca/symposium-2026/] More about Family Enterprise Canada Family Enterprise Canada [https://familyenterprise.ca/] FEC on Facebook [https://www.facebook.com/FamilyEnterpriseCanada] FEC on Twitter [https://twitter.com/FamBizCanada] FEC on LinkedIn [https://www.linkedin.com/company/family-enterprise-canada/]

77: Rediscovering the Leader Beneath the Stewardship

Host Steve Legler speaks with Executive Coach Jill Nykoliation ahead of her Keynote set for Family Enterprise Canada's upcoming Symposium in Vancouver, taking place May 25-27, 2026. The discussion covers some of the limits of a stewardship mentality, and delves into helping each family member discover their own innate drivers and talents to use in service of the family enterprise All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada [https://familyenterprise.ca/]. Guest bio Jill Nykoliation is an award-winning business leader with 30 years of experience shaping global brands, from Fortune 100 to entrepreneurial companies. For over three decades, she has dedicated herself to understanding why we do what we do. Her fascination with human insight was the driving force behind her co-founding a creative agency eighteen years ago — and now drives her work as a Personal Coach. Jill now applies her deep expertise to help people unlock their true potential and navigate pivotal moments in their lives and careers. Jill coaches executives one-on-one across the globe and facilitates workshops for corporations, YPO, and MEA Wisdom School, guiding leaders toward greater clarity, confidence, and impact. You can learn more about Jill Nykoliation on LinkedIn [https://www.linkedin.com/in/jillnykoliation/]. Key Takeaways [:23] Steve Legler welcomes Jill Nykoliation and launches the episode by asking her to share her thoughts on the notion of stewardship and how it holds importance for enterprising families. [3:21] Jill speaks on the rigidity of stewardship in a world of increasingly fast-paced change. [4:45] Is stewardship an ingredient of great leadership or vice versa? Jill shares her perspective. [7:00] Leadership is an individual recipe, Jill explains how evolving styles and hierarchies can better serve upcoming generations and enterprises. [8:05] Who is Carl Jung, and what are the 12 archetypes? Jill explains how each of them can impact leadership styles. [11:04] Jill shares the exercise she will be walking the audience through at the Symposium in Vancouver and how it often leads to marvel and a new understanding of the people we have been living with our whole lives. [15:24] The bicep and tricep as analogies for the part of ourselves we think we need to be versus our true selves. [20:43] Jill touches on how a family enterprise needs to go beyond the needs of the business and always remember its family members, and how to empower each individual. [22:36] It is OK for family members to go out and find their way outside of the family enterprise. [23:32] Some archetypes do better in certain cycles: Who doesn't want an explorer in this fast-paced time? [26:02] Are we "just like dad" or "just like mom"? Jill answers the heredity question and how it might be a trap. [27:34] When it comes to family enterprise, can you make the role fit the person, or is it really just the other way around? [32:00] Jill's promise to the audience! [32:20] Jill shares her book recommendation and a piece of advice for advisors. [36:13] Steve Legler thanks Jill Nykoliation for sharing so much of her expertise and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC. If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify [https://open.spotify.com/show/3blLgzlyWh2KPtlbrPEhaj], Apple Podcasts [https://podcasts.apple.com/us/podcast/lets-talk-family-enterprise/id1461762424], and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca [fea@familyenterprise.ca]. Mentioned in this episode From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life [https://www.amazon.ca/Strength-Finding-Success-Happiness-Purpose/dp/059319148X], by Arthur C. Brooks Working Identity, Updated Edition, With a New Preface: Unconventional Strategies for Reinventing Your Career [https://www.amazon.ca/Working-Identity-Unconventional-Strategies-Reinventing/dp/1591394139], by Herminia Ibarra Symposium 2026 [https://kinnect.familyenterprise.ca/symposium-2026/] More about Family Enterprise Canada Family Enterprise Canada [https://familyenterprise.ca/] FEC on Facebook [https://www.facebook.com/FamilyEnterpriseCanada] FEC on Twitter [https://twitter.com/FamBizCanada] FEC on LinkedIn [https://www.linkedin.com/company/family-enterprise-canada/]

76: Love, Wisdom, Money

Host Steve Legler speaks with Buddy Thomas, the author of Love, Wisdom, Money: The Family Fiduciary's Guide to Generative Wealth. Together, they discuss the concept of a 'Family Fiduciary' and the importance of putting those three elements—Love, Wisdom and Money—in the right order. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada [https://familyenterprise.ca/]. Guest bio Buddy Thomas is the founder of Superior Planning – Family Office, specializing in customized family wealth and relationship enrichment programs for HNW and UHNW families since 1982. A Certified Financial Planner and Accredited Estate Planner with a background in psychology and economics, Buddy is a thought leader in personal wealth management. He has authored four books, over 50 articles, and produced 200+ educational videos, including the Fifty-Five Second Family Fiduciary series. You can learn more about Buddy Thomas on LinkedIn [https://www.linkedin.com/in/buddythomas] and on the Love, Wisdom, Money [https://lovewisdommoney.com/] website. Key Takeaways [:23] Steve Legler welcomes Buddy Thomas and launches the episode by asking about his book Love, Wisdom, Money: The Family Fiduciary's Guide to Generative Wealth. [2:15] Buddy explains what a Family Fiduciary is, how Love, Wisdom, and Money must come in the correct order, and how he came to understand why the order is so important. [6:06] From Jay Hughes, through years of meeting families: translating "human capital" into an understandable concept for all was key for Buddy to flesh out this book. [7:42] Learning to write books is quite the experience. "No one wants to read a whitepaper!" Buddy shares how finding your author's voice is part and parcel of learning how to write for good reading. [10:03] Buddy shares how his own family founded and grew their own successful family enterprise. [11:42] How can advisors encourage families to foster "the right stuff" and support them in growing? [14:24] The family fiduciary has to lead the movement for the benefit of the whole family. [15:54] How The Gift of Lift [https://www.amazon.ca/Gift-Lift-Harnessing-Stewardship-Elevate/dp/1646636619] by David R. York opened Buddy's eyes. [17:23] The gamification of enterprising families' dynamics. [20:13] Why separating the portfolio and the cash flow games is really important. [21:57] What Buddy believes a comprehensive planner should hope for. [23:11] Helping families see what they have not been able to understand, so that they can make the best decision for themselves. [25:32] If you've seen one family office… You've seen one family office. Buddy shares that in the course of his 40-year career, he has concluded that no two families will take the same decision. [27:34] Buddy talks about separate vs. community property law and how surprised he was by the differences between Ohio and California. [29:02] Buddy's book recommendation and advice for families and advisors. [31:26] Steve thanks Buddy for sharing so much of his experience and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC. If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify [https://open.spotify.com/show/3blLgzlyWh2KPtlbrPEhaj], Apple Podcasts [https://podcasts.apple.com/us/podcast/lets-talk-family-enterprise/id1461762424], and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca [fea@familyenterprise.ca]. Mentioned in this episode Values-Based Estate Planning: A Step-by-Step Approach to Wealth Transfer for Professional Advisors [https://www.amazon.ca/Values-Based-Estate-Planning-Step-Step/dp/0471380407], by Scott C. Fithian Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators [https://www.amazon.ca/Family-Trusts-Beneficiaries-Trustees-Protectors/dp/1119118263], by James E. Hughes Jr. Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations [https://www.amazon.ca/Family-Wealth-Family-How-Intellectual-Generations/dp/157660151X], by James E. Hughes Jr. Symposium 2026 [https://kinnect.familyenterprise.ca/symposium-2026/] More about Family Enterprise Canada Family Enterprise Canada [https://familyenterprise.ca/] FEC on Facebook [https://www.facebook.com/FamilyEnterpriseCanada] FEC on Twitter [https://twitter.com/FamBizCanada] FEC on LinkedIn [https://www.linkedin.com/company/family-enterprise-canada/]

75: Cognitive Optimization for Leadership

In this episode, host Aileen Miziolek speaks with Celina Caesar-Chavannes about why 'change' can feel so difficult in family businesses. Celina explains, in simple terms, how our brains get used to certain ways of thinking and reacting—and how that affects family relationships and decision-making. She also offers practical advice and resources to help families and professionals better navigate change and work together more effectively. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada [https://familyenterprise.ca/]. Guest bio Celina Caesar-Chavannes is a globally respected leader and humanitarian who, for over 25 years, has been dedicated to helping individuals awaken their innate potential and live in alignment with their unique gifts. Widely regarded as one of the foremost experts in leadership, neuroscience, and personal transformation, Celina has worked with leading organizations such as TD Bank, Canadian Tire, Aga Khan Foundation, and McDonald's Canada. A national bestselling author and celebrated international speaker, Celina's work in cognitive consistency and inclusive leadership continues to shape the global conversation on equity, humanity, and meaningful impact. You can learn more about Celina Caesar-Chavannes on LinkedIn [https://ca.linkedin.com/in/celina-caesar-chavannes] and on her website [https://celinacc.ca/about-celina/]. Key Takeaways [0:23] Aileen Miziolek welcomes Celina Caesar-Chavannes and launches the episode by asking her a little more about her career and what drives her passions. [2:49] Change is very hard in family business systems. Celina explains how well-established neural pathways reinforce existing thoughts and behaviours. [5:32] Trusting your gut might be a good pathway to finding alignment. [7:38] Before alignment, there is motivated cognition. Celina breaks down how this process works and why being aware of this process is part of how the self shapes over time. [10:42] Resistance to change is linked to neuroplasticity, and Celina likens some neuro-pathways to concrete highways. [13:25] There are no shortcuts! [14:44] The default mode network, the central executive network, and the salience network, and how the interaction between the three largely dictates relational dynamics. [18:19] There is no good, bad, right, or wrong; it's just how the brain is wired. Celina offers tips on how to short-circuit the default mode network. [20:42] How the salience network hijack makes family business more challenging. [23:23] Celina offers a path for advisors to educate families both in individual settings and as groups. [25:44] Aileen invites listeners to register for the FEA Kinnect Toronto event coming up this February 19th, during which Celina will be speaking. [26:37] Celina shares some resources and advice for families and advisors listening — grab a pen! [28:57] Aileen thanks Celina Caesar-Chavannes for sharing so much of her knowledge and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC. If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify [https://open.spotify.com/show/3blLgzlyWh2KPtlbrPEhaj], Apple Podcasts [https://podcasts.apple.com/us/podcast/lets-talk-family-enterprise/id1461762424], and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca [fea@familyenterprise.ca]. Mentioned in this episode Can You Hear Me Now?: How I Found My Voice and Learned to Live with Passion and Purpose [https://www.amazon.ca/Can-You-Hear-Me-Now/dp/0735279594], by Celina Caesar-Chavannes FEA Kinnect Toronto: Cognitive Optimization for Leadership [https://events.familyenterprise.ca/event/fea-kinnect-toronto-cognitive-optimization-for-leadership/] Symposium 2026 [https://kinnect.familyenterprise.ca/symposium-2026/] More about Family Enterprise Canada Family Enterprise Canada [https://familyenterprise.ca/] FEC on Facebook [https://www.facebook.com/FamilyEnterpriseCanada] FEC on Twitter [https://twitter.com/FamBizCanada] FEC on LinkedIn [https://www.linkedin.com/company/family-enterprise-canada/]

74: The Best of 2025 (A Retrospective)

Regular hosts Aileen Miziolek and Steve Legler discuss some of their favourite episodes and insights from 2025's episodes of the Let's Talk Family Enterprise podcast. Hear them share their greatest takeaways and bring back good memories while encouraging listeners to subscribe for more! All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada [https://familyenterprise.ca/]. Key Takeaways [0:26] Steve Legler and Aileen Miziolek come together for a year-end review for the Let's Talk Family Enterprise podcast. [1:21] Steve shares his favourite takeaways and how what we see in general culture tends to be far from correct when it comes to addiction from episode #64 on addiction with Jeffrey Foote. [4:01] Aileen talks about how the "Owner's Mindset" has now made it into her own practice from episode #65 on Ownership with Barbara Dartt. [8:47] The distinction between Frankenstein and Frankenstein's monster, creating a vision, and the 10 domains, from episode #68 on collaboration and cooperation with Cindy Radu. [14:00] Aileen and Steve share their favourite moments, ranging from the multiple hats advisors have to wear to what it means to work FOR a system from episode #69 with Roger Schwarz. [18:01] The relationship kids develop with money can evolve poorly if it isn't managed. Steve and Aileen share their favourite insights from episode #70 with Mark Shiller. [22:26] The difference between an abundance and a scarcity mindset, over- and under-functioning when parenting adult children, and more from episode #71 with Alyson Schafer. [28:05] Aileen and Steve thank listeners for their continued support and close this episode with well wishes for the coming year and an invitation to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC. If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify [https://open.spotify.com/show/3blLgzlyWh2KPtlbrPEhaj], Apple Podcasts [https://podcasts.apple.com/us/podcast/lets-talk-family-enterprise/id1461762424], and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca [fea@familyenterprise.ca]. Mentioned in this episode Symposium 2026 [https://kinnect.familyenterprise.ca/symposium-2026/] Episode #64 [https://familyenterprise.ca/resource/getting-beyond-addiction-in-enterprising-families/] with Jeffrey Foote — Getting Beyond Addiction in Enterprising Families Episode #65 [https://familyenterprise.ca/resource/owning-ownership-with-barbara-dartt/] with Barbara Dartt — "Owning" Ownership with Barbara Dartt Episode #68 [https://familyenterprise.ca/resource/stop-frankensteining-it/] with Cindy Radu — Stop Frankesteining It Episode #69 [https://familyenterprise.ca/resource/the-skilled-facilitator-podcast/] with Roger Schwarz — The Skilled Facilitator Episode #70 [https://familyenterprise.ca/resource/how-to-not-ruin-your-kids-with-money/] with Mark Shiller — How Not to Ruin Your Kids With Money Episode #71 [https://familyenterprise.ca/resource/parenting-adult-children-in-family-business/] with Alyson Schafer — Parenting Adult Children in Family Business More about Family Enterprise Canada Family Enterprise Canada [https://familyenterprise.ca/] FEC on Facebook [https://www.facebook.com/FamilyEnterpriseCanada] FEC on Twitter [https://twitter.com/FamBizCanada] FEC on LinkedIn [https://www.linkedin.com/company/family-enterprise-canada/]