As families and family offices grow and become more complex, attracting and developing the right talent now requires total compensation plans that are competitive and keep pace with an evolving workforce. This session will offer fresh perspectives, based on our 2024 Compensation and Benefits Study, to help family offices as they work to create compensation strategies that work best for the families they serve. Attendees will:
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The IRS has released the 2025 cost-of-living adjustments for pension and 401(k) plan limitations. The indexed amounts for 2022 to 2025, and other commonly used limits are listed in this summary.
For family offices, providing the highest level of service to their family clients includes ensuring the staff in their homes are not only skilled and qualified, but also trustworthy and ethical. However, the vetting process at every level—from housekeepers to directors of residence—has become more challenging as more applicants misrepresent themselves or falsify information on their applications, resumes, and reference lists. To help families and the family offices that serve them, here are some best practices to mitigate the deceptive and fraudulent behavior among job applicants.
In a work environment where employees increasingly say they are burned out, this survey of 1,500 respondents shows that the most successful employers will be the ones who support their employees to alleviate the stressors consuming today’s workforce and challenging leaders. While the increase in burnout was a major finding, the survey also revealed other insights and notable findings that include the impact and importance of benefits and pay as the top two reasons to join a company and stay.
As families and family offices grow and become more complex, attracting the right talent to deliver and manage services requires compensation plans that are competitive and keep pace with an evolving workforce. This session will offer fresh perspectives, based on our 2024 Compensation and Benefits Study, to help family offices create a compensation program that attracts top-tier talent to serve the family. Mishu R. Din, Dir. Research, Insights, and Knowledge, FOX
The family office industry is constantly evolving, and the family offices that embrace the changing dynamics continue to be successful in achieving their overall purpose. As in the first edition, this second edition of the Plante Moran Family Office Book provides timely and relevant insights to help family office professionals manage, operate, and evolve a best-in-class, forward-looking family office.
Engaging and preparing the rising generation is often top of mind, as the wellbeing of future family leaders is of great concern. Setting out to understand the needs and wants of the rising generation, this research tapped into the wisdom and experience of 55 families, 28 future family leaders, and 38 family office executives.
The pay levels for board directors have been increasing as the board members’ responsibilities grow with the need to fully understand and navigate the challenges arising from a variety of areas including geopolitical risk, regulatory complexities, macroeconomic shock, climate/environmental challenges, and technology advancements.
Compensation committees (CC) are facing a critical and urgent challenge: designing competitive compensation strategies in a world where the economy is unpredictable, leader accountability is expected to go beyond the bottom line, and sought-after talent is scarce. Looking ahead, CC must rise to the challenge of attracting and retaining talent while effectively managing costs. To achieve this, it is imperative for CC to embrace the power of incentive-based compensation, align it with strategic goals, and foster a culture of meritocracy within their organizations.
Artificial Intelligence (AI) is everywhere, and how organizations implement it into their workflow can be limitless. In fact, human resource departments are already deploying AI services for such tasks as resume screening, onboarding, training, and research. AI’s ability to collect and analyze data has enabled HR departments to streamline their work processes, reduce biases, eliminate guesswork, and enhance decision-making. With such a powerful tool, it’s essential to have a guidance system in place.