Sourcing the right talent is a challenging process for Family Offices. Given the small size and scale of operation, Family Offices often lack the infrastructure, time or knowledge to recruit staff. At the same time, Family Offices are sophisticated entities that require high-calibre professionals with versatile skill sets. Consequently, it is very common for Family Offices to work with external service providers to fill their open positions. This article offers insights into the benefits of working with a specialist recruiter to hire for your Family Office.
Specialist recruitment agencies refer to organisations that focus on sourcing candidates for highly specialised areas or specific industries. Contrarily, traditional or generalist recruitment agencies usually cover a broad range of industries. A specialist would usually only cover Family Offices.
We believe that a specialist recruiter that focuses on the Family Office space is immensely helpful for Family Offices that seek to fill an open position. Family Offices are tailored to the families they serve, and each family may have specific requirements for their employees. Besides, cultural fit is vital for Family Office professionals. Unlike larger corporations, Family Offices are very personal and private workplaces. In the world of Family Offices, a new hire is almost like introducing a new family member. As a result, Family Offices must assess the behaviours and personalities of the candidates beyond the basic requirement such as qualifications and competencies. A generalist recruiter may lack the experience to conduct a thorough assessment of skills, experience and cultural fit within a Family Office environment.
A perfect candidate who is both professionally qualified and a cultural fit that embodies the values and beliefs of the family may not be someone that the principal could come across without professional help. A specialist recruiter like Agreus can precisely offer the service a Family Office needs. We have built close and lasting relationships with the best talent in the industry over our years of experience. In addition to having a more concentrated pool of talent compared to a generalist recruiter, we also have access to passive candidates, who are fully qualified but may not be actively looking for a new role. With the professional help of a specialist recruiter, Family Offices can be assured they will be provided with a shortlist of candidates that meets their needs. This will also lower the overall time and cost spent on the recruitment process.
Working with a specialist recruiter has benefits beyond saving time and money, they are experts that will be able to guide you throughout the entire recruitment process. Specialist recruiters, especially those focusing on a niche industry such as Family Offices, have deep industry knowledge that will greatly benefit their clients. Partnering up with an experienced recruiter in the Family Office industry is immensely helpful for Family Offices where accessible information is very limited due to the discreet nature of the industry. We have nearly 13 years of primary data on Family Offices, including their demographics, governance structure and compensation packages. We are well informed about the market and will be able to provide guidance on market trends such as compensation benchmarking, desirable skill sets and employee expectations to our Family Office clients.
On another note, as Family Offices often operate on a small scale with a handful of employees, hence Family Office professionals are expected to perform a hybrid role across several specialisms. We believe that there is a nuance in hiring for a Family Office that other specialist recruiters who serve the financial or professional services industries would not understand. We believe that it is vital that your next hire fully understands what the Family Office environment requires of them. We will only present candidates who have impeccable credentials and existing familiarity with Family Office.
Here at Agreus, we provide tailored and dedicated services to our Family Office clients. We take time to understand the culture of the Family Office, the existing team members, and deduce what would be a perfect fit for that particular client. We work exclusively with Family Offices and cover various roles within a Family Office, from accounting and finance, investment, support and operational to executive staff. We understand the dynamics of a Family Office and can offer the perfect candidates as well as consultative advice on compensating your employees. For a more tailored conversation about hiring for your Family Office, please do not hesitate to get in touch.