Dollars & Sense: Compensation Strategies

Create fair and effective compensation strategies for your family business.

In this session, participants will learn how to create fair and effective compensation and employment policies that support both business success and family harmony. The session will focus on how to motivate executive performance, plan for the future, and ensure these systems fit within a strong family business governance structure. 

By the end of the session, participants will be able to: 

• Understand why fair and competitive compensation is important in family businesses 
• Connect pay and employment policies to governance, leadership transitions, and long-term family goals 
• Use proven frameworks to design compensation plans that support both performance and fairness 
• Break down the key parts of executive pay, including salary, bonuses, benefits, equity, and performance-based rewards 
• Create employment policies that help attract and retain top talent while staying aligned with family values 

The session includes real examples, hands-on activities, and time to reflect on your own business practices. Participants will leave with clear ideas and practical next steps for improving their compensation and employment strategies. 

Facilitators: Leslie Lynch and Dr. Ana González 

 
Leslie Lynch, DBA
Leslie Lynch is a faculty member at Grand Valley State University's Seidman College of Business. Before entering academia, she served as a multidisciplinary business executive with over 20 years of C-suite, operational, administrative, and sales experience across financial services, manufacturing, healthcare, and higher education. Her expertise centers on organizational change, leadership development, and high-performance talent management, with a strong interest in how individual behavior influences financial and non-financial outcomes.

Leslie holds bachelor's, master's, and doctoral degrees in business, with a doctoral dissertation titled Financial Regulation and Economic Performance: A Descriptive Correlation Study of American Financial Institutions. She has a passion for teaching, coaching, and guiding future leaders, drawing on academic and executive experience. Outside work, Leslie and her husband enjoy lake life in Michigan with their two sons, daughter-in-law, three grandchildren, and two English labs.
 

Ana Gonzalez, Ph.D.
Ana Gonzalez is the Director of the Family Owned Business Institute and Associate Professor of Management at the Seidman College of Business, Grand Valley State University. She holds a Ph.D. in Management from Tulane University, an M.Sc. in Economics, and a bachelor's degree in industrial engineering from Universidad de los Andes in Bogotá, Colombia.

An award-winning business case writer, Ana's research focuses on entrepreneurship, corporate governance, and sustainability in family businesses. Throughout her career, she has served as a scholar, consultant, and advocate for family enterprises. She is a board member of the STEP Project Global Consortium, the West Michigan Family Business Alliance, and Crain Currency. This Crain Communications initiative supports family offices and ultra-high-net-worth families in preserving wealth and values.