As a recruitment specialist for Family Offices, we are mindful of how important Cultural Fit is when hiring for a Family Office. According to our findings, 92% of Family Office professionals believe Cultural Fit is more important than qualifications in the hiring process. However, finding a good Cultural Fit is not necessarily a straightforward process and it can be riddled with challenges. This article will guide you on how to ask the right questions to find your perfect Cultural Fit hire.
Family Offices are small and intimate entities that fulfil all the financial or non-financial needs of the family it serves. It is by nature a very personal and private workplace. In the world of Family Offices, a new hire often feels like the introduction of a new member into the family. Consequently, in addition to being professionally qualified and competent, the prospective employee must be a Cultural Fit that embodies the values and beliefs of the family. Family Office professionals also need to have a high level of emotional intelligence (EQ) as they are required to deal with personal matters on a day-to-day basis. A poor Cultural Fit will have negative impacts on staff morale, performance and productivity. Therefore, it is vital for employees to be selected based on how well they fit into the existing culture.
No two families are the same and so neither are their respective Family Offices. To establish Cultural Fit, you must clearly define the culture of your Family Office. This process involves identifying your values, beliefs and the ideal qualities the prospective employee should possess. Once you have completed this, you can begin the hiring process. Determining Cultural Fit comes down to asking the right questions. Family Offices can assess Cultural Fit through targeted and value-based interview questions. We have been helping Family Offices to find their perfect Cultural Fit hires for over a decade and as a result, we have developed an understanding of what works well and what doesn’t. Questions regarding Cultural Fit should be sensitive but precise.
We have formulated a list of example questions you might adopt for your next interview:
- What type of culture do you thrive in? (Does the response reflect your culture?)
- What values are you drawn to? (Does the response align with your values?)
- In your friendship group, which friend are you?
- What is your ideal workplace?
- What best practice would you bring with you that ensures a great culture?
- Are you more comfortable with a hierarchical organisation or a flat structure?
- Do you work better independently or in a team?
- Do you have any experience working in a similar-sized team? If so, how easy was it for you to work in that close-knit environment?
- Would you call yourself a natural leader?
- Are you a problem solver? Can you give me an example of where you solved a problem in the workplace?
- Do you prefer autonomy or guidance?
Apart from a formal interview that assesses the candidates’ professional and personal attributes, you can also consider inviting them to join you and the team for a friendly drink or dinner. This will allow you to test how well the candidate interacts and engage with you, the family members and the team.
Agreus is an established full-service resources and recruitment consultancy dedicated to working exclusively with Family Offices. We pride ourselves on adding value to our network by providing insights, opinions and thought-leadership on issues relevant to the Family Office environment. We have released several reports discussing the importance of Cultural Fit and a standardised recruitment process for Family Offices. For a more tailored conversation about hiring for your Family Office, please do not hesitate to get in touch.
To read the Complete Guide to Cultural Fit please visit:
https://www.agreusgroup.com/the-complete-guide-to-cultural-fit/