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Trends in the High-Profile Executive Support Market

By July 31, 2019August 23rd, 2019Industry Trends

The high-profile executive support market is exploding, and demand is higher than it has ever been. Executive assistants are critical members of an organization. They function as part of a strategic alliance where they provide support to CEOs which allows them to perform more effectively in their busy lives. Here are some of the leading trends in the executive support market.

Every CEO Has an Assistant

As more and more executives build successful global companies, there is a higher demand for skilled executive assistants. For high-visibility professionals, life moves quickly, and there are many aspects to their personal and professional lives that need to be managed. In the past, some CEOs could function without an assistant. But in today’s tech-driven, fast-paced world, this no longer holds true. Increasingly, high-profile leaders will have C-level support. While some worried the popularity of AI and virtual assistants would negatively affect this niche, the reality is that this function is an essential resource that organizations need to run smoothly, and this is true now more than ever before.

The Role of the Assistant Is Expanding

Historically, the function of executive assistants (EAs) mainly involved managing the CEO’s schedule and travel plans. But this function has expanded over time, becoming more strategic. EAs and Chiefs of Staff execute on the goals of the business and partner with the CEO to increase productivity and effectiveness. They are skilled in strategic time management, project management, board operations, and managing direct reports. They analyze how leaders are spending their time and strategize ways to make them more productive, making them essential members of the organization.

Family Office Management

Notably, as the number of high worth individuals continues to grow it has increased the need for family office management. High-profile CEOs are looking for skilled professionals who can manage their personal lives and do this with care and confidentiality. They are entrusted to manage estates, philanthropic efforts, family trusts, operations, private travel, security, LLCs, HR, hiring and much more. Eventually executives find it difficult to manage all of the functions of a family office on their own. A support staff is essential and often includes HR, accounting, staffing management, legal and financial expertise. Executive support staff can help set up LLCs, corporations, organize property taxes, hire staff, manage operations and deal with HR challenges. Some bring other professional experience to the table such as interior design and event planning. They often bring a high-level of talent and a diverse range of skills. They are also capable of managing the support staff and assuring everyone performs at their best.

High-profile executive support professionals are in high demand in today’s market. They provide a strategic partnership to high-profile executives, keeping an eye on the big picture and ensuring that CEOs are productive and effective.

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