The Family Office Sherpa Family Members As Employees - What To Plan For
Sep 28, 2025
Explore the intricacies of involving family members in a family office. Discover the balance between risks and rewards when hiring relatives. Learn why meaningful roles matter over trivial tasks and how to assess skills effectively. Gain insights into planning, governance, and fair treatment of family employees. Understand the importance of long-term implications for future generations and the value of hands-on learning. Plus, get practical strategies like tech projects for younger family members to boost engagement.
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Be Transparent About Family Hires
- Having family members as employees affects optics and external credibility, so be transparent about roles and reasons for hiring them.
- Clarity reduces resentment from other staff and stakeholders who expect competence and accountability.
Pay And Set Clear KPIs
- Pay family employees near market rates and set clear KPIs to ensure fairness and accountability.
- Define who monitors performance and what happens if targets aren't met.
Assess Skills And Invest In Training
- Assess family members' skills and willingness to learn before hiring and provide training where needed.
- Encourage education and mentorship to close credibility gaps rather than assuming innate competence.