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Containing costs and motivating key employees is a difficult balancing act. Keeping employees motivated can be especially challenging when family office executives are unable to offer the level of bonuses and pay increases that were the standard prior to the recession. In addition, many executives are concerned about employee retention and are striving to keep their employees engaged so that they won’t leave the office when the economy improves. This briefing, based on an annual FOX survey of compensation practices across all family office positions, provides a rare perspective of family office compensation practices and can inform key compensation conversations and decision-making. The briefing examines:
- Anticipated changes to 2012 base salary
- Anticipated 2011 performance bonuses
- Long-term incentive programs
- Greatest human capital challenges in 2012
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