Five family office hiring trends in 2024
Summer is fast approaching and, for family offices, ensuring a smooth and enjoyable sunny season requires strategic planning, especially when hiring staff. Here are five ways private employers can optimise…
The private recruitment market has witnessed significant shifts throughout 2024. Lydia Charlesworth, Manager of Tiger Private, provides expert insights on the key hiring trends observed in Q3 and expectations looking ahead to Q4.
Recovering Market
The beginning of the year saw slower movement, with fewer roles available to jobseekers than usual. However, in recent months, there has been a noticeable shift, with an influx in job opportunities across all sectors that indicates a recovering market.
One significant trend is the rise in demand for round-the-clock private support due to employers’ international travel commitments. Although these demands pose challenges for staff, some households and family offices have adopted rotational schedules (e.g. two weeks on followed by two weeks off) to avoid staff burnout.
Political Changes
The run-up to the UK general election caused some uncertainty, making some jobseekers cautious to change roles and many families tentative to recruit. Yet, with the results now in and the prospect of a period of political stability on the horizon, we have seen a positive increase in confidence from those who have recommenced hiring. We are also seeing more top-level senior staff seeking career advancement, including chiefs of staff, executive assistants and private PAs.
UK Staffing Requests
Over the summer holiday season, we saw plenty of international movement and temporary hires as families staffed secondary residences abroad. However, as we transition into the autumn and families return from their holidays, we are noticing a promising rise in staffing requests for UK-based roles.
Expert Hiring Guidance
Employers can greatly benefit from seeking expert guidance when restructuring staff or relocating family offices. Ensuring proper staff structure and coverage without causing burnout is crucial. We provide a consultative service to improve your household or family office’s structure to optimise time and money, ensuring the seamless functioning of your private staff.
Tiger Private also provides an enhanced payroll service to relieve you of administrative onboarding processes. Depending on the extent of your needs, this can encompass reference checks, background checks, drafting employment contracts, setting up payroll and more. Contact us to find out more about our enhanced payroll offer, available in both the UK and across Europe.
