Key points
- According to a new investigation.
- There is a talent pool in narrowing, and many employees do not see long -term career potential in family offices.
- Here is what families can do to participate in the talent war.
A version of this article appeared for the first time in Inside Wealth Newsletter of CNBC with Robert Frank, a weekly guide to the investor and consumer with high shuttle. Register to receive future editions, directly in your reception box. According to a new report. And yet, even the family offices with massive wallets are faced with hairdressing problems, according to a survey by the heritage manager Alti Tiedemann Global and the Campden Wealth research firm. Almost eight out of 10 family offices have reported difficulty in hiring and 54% expressed their concerns about the conservation of key staff. The survey, provided exclusively at CNBC, questioned 146 family offices between November 2024 and March 2025. The problems are particularly acute for large family offices, although they are able to offer more competitive wages, 92% of companies managing at least $ 1 billion declaring recruitment challenges. Large family offices have also reported a higher turnover, with an average of an employee starting every nine months, according to the report. Small family offices with $ 150 to 249 million assets have generally declared fewer retention problems because they could count on family members for many key roles. Many older family offices, whatever their size, must find new retirement talents for staff members, said Erik Christoffersen, chief of practice of the Alti multifamilial office. There is also fierce competition from institutional investors about a pool in narrowing of high-level investment professionals, he said. “I am not sure that family offices are prepared for the shock of the price of the current market rate stickers to really attract and keep big talents year after year,” he added. According to Christoffersen, is perhaps a greater challenge than compensation is the lack of clear or attractive long-term career opportunities in the family office space. Fifty-five percent of respondents identified this as a substantial obstacle, while only 26% cited compensation. “I'm not sure that it is always this job description, and I think they really have to spend more time showing what is so great in our family office,” he said. As for current employees, Christoffersen said: “Families can review the organizational structure to maximize the forces of these talented people, so that you can widen and make their work more interesting and ideally, remuneration can also increase with it.” Better advantages and more flexibility, especially remote work, also makes more difficult for employees to leave, he said. Christoffersen added that all family offices, other than the largest, should take advantage of outsourcing to cover the gaps internally. In the light of market volatility which will probably not disappear, having the best talent in its category is more crucial than ever, he said. “Over the past decade, with a low cost of capital and very little volatility, you have just seen all ships navigated or the tide has increased for all boats,” said Christoffersen. “Now, in this decade, we see much more volatility. And you cannot just count on a passive index portfolio.”