Linda Mack of Mack International was the featured guest on a podcast webinar sponsored by Family Enterprise USA and Policy and Taxation Group October 19, 2022

Linda Mack of Mack International was a featured guest on a podcast webinar on the topic of Recruiting and Retention Strategies for Top Leadership. The event was sponsored by FEUSA and PATG on October 19, 2022.

“In this webinar, Linda provides insights that are not only valuable, but need to be considered immediately for any family business…” Pat Soldano, President, FEUSA

Topics discussed include:

  • Key Trends in the Market
  • Important Requirements and Characteristics for Leaders of the Future
  • Challenges Facing Family Offices and Businesses and their Recruitment Issues
  • Essential Elements of a Successful Attraction/Retention Program
  • Integral Components of an Effective Retention Program
  • Finding the Next Generation of Leaders
  • How Attracting and Retaining Leadership Talent Changed Over the Past 20 Years

Following are some highlights of the interview conducted by Ms. Soldano:

Linda on Key Trends—“Looking at the big picture, the landscape is extraordinarily competitive when searching for C-suite leadership. What that is doing is really pushing Family Offices and Family Businesses to be much more professional, institutional and planning oriented. Gone are the days of handshakes and “we’ll see.” Finding the ideal candidate is like looking for a needle in a haystack, so you want to attract those people and once you have them you cannot afford to lose them. Candidates want performance expectations that are quantified and qualitative with the promise of ongoing feedback. The stakes have been raised to a whole new level.”

Linda on requirements and characteristics of future leaders—“There is a transition happening. Candidates that will be most coveted by Family Offices in their C-suite will be less reactive and more proactive and strategic. They will have a mindset of leading a business as a trusted advisor, providing a clear value proposition. They will be leaders, not managers—there is a big difference. Being technologically savvy will be huge for organizational efficiency. The premier candidates will have a “high E.Q.”, be well networked, and bring best practice knowledge to their roles.”

Linda Mack on essential elements of a successful attraction/retention program—“We use a six step process that when used consistently will not fail. is fool proof. It includes a firm foundation for success built upon a strategic human capital plan and targeted recruiting and assessment process. Family offices are seeking long-term leaders that will stay 15 years or more, so this is essential, as is “culture fit” for family dynamics. Retention practices must be just as strong. Authority and resources commensurate with accountability is key. Clear business mandates, sound governance and competitive compensation are paramount.”

The webinar was approximately one hour after which the audience stayed for a question and answer period. “Multi-generational family businesses and family business offices have to grapple with leadership issues other businesses do not have to deal with,” said Pat Soldano, President, Family Enterprise USA. “When it comes to strategies for compensating senior management the market has changed dramatically from twenty years ago,” she said. “In this webinar, Linda provides insights that are not only valuable, but need to be considered immediately for any family business facing a leadership transition, whether within the family or in hiring from the outside.”

To listen to the podcast in its entirety, visit the link above for more of Linda’s insights into succession planning, challenges with family versus non-family members, and the impact of the pandemic on Family Offices going forward.

About Mack International LLC
Mack International is the premier boutique retained executive search and strategic management/human capital consulting firm serving national and international clients in the family office, family business enterprise and the wealth management industries on a national and international basis. Founded in 2002, the firm has achieved an exceptional track record of success as evidenced by its unmatched industry expertise, in-depth market knowledge and unparalleled track record of success. Founder and President, Linda C. Mack has established proprietary methodologies such as the Mack 360© and is credited for having coined the term “expert generalist” in the industry.

Family Enterprise USA promotes family business and job creation, growth, viability, and sustainability by advocating for family businesses, their lifetime of savings, and the issues they face running their businesses every day. The issues we fight for or against with Congress in Washington DC are high Income Tax Rates, possible elimination of Valuation Discounts, increase in Capital Gains Tax, enactment of a Wealth Tax, and the continued burden of the Estate Tax (death tax), and with the possible elimination of Step up in Basis. Family Enterprise USA represents and celebrates all sizes, and industries of family businesses and multi-generational employers. FEUSA is a 501.C3 organization.

About PATG
Policy and Taxation Group is the leading information, education and advocacy organization working for the reduction and ultimate elimination of estate, gift, and generation skipping transfer taxes, and other taxes that punish hard work and success. Our Mission is to challenge hostile tax policies that meaningfully and measurably impact families and limit the ability of family businesses to remain family owned.