Questions to consider before hiring C-Suite talent for a Family Office

   • Questions to consider before hiring C...  

Questions to consider before hiring C-Suite talent for a Family Office. Mack International webcast hosted by Family Enterprise USA

https://www.mackinternational.com/

Hear the most frequently asked questions of this prominent search and consultant for Family Offices around the subject of recruiting C-Suite talent. Discover the most common recruiting mistakes and how to avoid them. Listen as the challenges of dealing with the rising generations are discussed and how important communication has become to succession planning and preserving your legacy.

This webcast focuses on the critical topic of hiring senior talent for family offices, specifically addressing key considerations before launching a search. The featured speaker, Linda Mack, founder of Mack International, shares her extensive experience in executive search and consulting for family offices.

Linda emphasizes the importance of thoroughly planning before building a family office, comparing it to constructing a house. Just as a house requires a clear vision, budget, and blueprint, a family office must be carefully designed with an understanding of its purpose, structure, and the services it will provide. She underscores that this planning is crucial to avoid costly mistakes and ensure long-term success.

The conversation highlights the pivotal role of the "expert generalist" in a family office—a leader who understands the full spectrum of wealth management services and can navigate the complexities of interrelated functions such as finance, tax, and estate planning. This role is vital for coordinating with external advisors and ensuring nothing falls through the cracks.

Linda also discusses common pitfalls in the hiring process, such as the tendency to hire trusted individuals who may not have the necessary skills for the long term or bringing in a "rock star" from another family office without considering cultural fit. Additionally, she notes that a poor hiring process and inadequate onboarding can lead to failure.

The webcast also covers the importance of competitive compensation and other factors that attract and retain top talent in family offices. Linda points out that beyond salary, clear business mandates, authority, resources, smooth succession plans, and opportunities for growth are crucial for securing and keeping high-performing executives.

Overall, the discussion offers valuable insights into building a successful family office and the critical role of thoughtful hiring and strategic planning.

https://familyenterpriseusa.com

Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions, and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization.

Family Enterprise USA promotes family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC.

Family Enterprise USA members meet with legislators in Washington D.C., to present non-partisan intelligence, research and information on the economic impact family businesses have on the US economy and job growth, as well as the contributions they make to their communities.

We hope your family will choose to be a member of Family Enterprise USA. For more information please contact us.

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