When billionaires and high-net-worth families own multiple residences, they often employ a chief of staff (COS) to manage department leaders and domestic staff within the household. The chief of staff is part of the executive team, and they often have an executive assistant to help them manage the owner's properties.
The COS must have a nimble business mind because running complex estates for celebrities and high-profile families is very demanding. The recruiters at The Celebrity Personal Assistant Network search for such individuals.
Should a COS have budget management consulting experience?
Because no two households are alike, the skills needed to be a chief of staff to a billionaire vary. They must collaborate with other executive team members and engage in strategic business initiatives to ensure the household runs efficiently.
Superlative business administration skills are also a must because the chief of staff has to answer to the chief executive officer when in board meetings.
The chief of staff is accountable to the executive team
Because the chief of staff is accountable to other executive leaders, they must always be streamlining strategic initiatives and improving a household's efficiency. Running mega-mansions can be costly, so having the right number of department heads is important to lower payroll costs.
While it's true that a chief of staff measures KPIs for the domestic workers that he supervises, the COS also has his own key performance indicators that are reviewed by the chief human resources officer as well.
Can executive team members fire a chief of staff?
The chief of staff is accountable to board members and other senior leaders. If an estate's daily operations falter, then the COS must improve existing operations or face possible termination.
Efficient project management and engaging in strategic planning processes is one way to improve operations for large estates. A highly qualified chief of staff can foresee problems and implement solutions before costs run out of control.
Chief of Staff job description
In the private service industry, a chief of staff job description is quite different than one in the corporate world. While it's true that a COS in a private household will be involved in operational strategies and overseeing program management, the environment itself is completely different from the corporate world.
Some of the chief of staff duties while working in private households include but aren't limited to:
These are just some of the COS duties and responsibilities. Other noteworthy abilities include outstanding interpersonal skills and the management of business processes in the household.
Proven success in operations management
Because a chief of staff engages in executive-level advising, their business or management role in the household is essential. Headhunters and recruiters in the domestic staffing industry are always on the hunt for a COS who has these skills.
Any executive assistant interested in becoming chief of staff should understand what gaps in skills they have to overcome objections by recruiters. In short, mastering administrative tasks in a project coordination role would help overcome any objections by hypercritical search firms.
Why would a billionaire need a chief of staff?
The mega-estates of billionaires and ultra-high-net-worth families are very complex. Large households often have dozens of domestic workers, exotic car fleets, and superyachts. With so many moving parts, complex households need sound business strategies to keep things running smoothly -- and that's where a chief of staff comes in.
A chief executive's schedule is demanding, so a COS handles the day-to-day operations of multiple teams to prioritize business strategies based on the needs of the homeowners.
The demand for household staffing is growing
Because the demand for domestic staff is growing, there will always be a need for chiefs of staff in the private service industry. At the Celebrity Personal Assistant Network, we have seen search requests for chiefs of staff grow every year for the past 10 years.
Most celebrities and billionaires require a bachelor's degree when they request a chief of staff, and many even prefer a master's degree. If you have business management experience and want to be part of a senior leadership team in a private household, we'd love to speak with you.
What does a COS in the private service industry do?
When working in private estates and households, job duties resemble those in hospitality. That's why billionaires often hire former hotel managers to be a chief of staff for their homes.
Many chief of staff duties mirror those in hospitality: scheduling meetings, data analysis, risk management, coordinating with senior executives, and managing business operations.
The difference, though, when working for billionaires is that the hours are usually much longer. There is also a lot of pressure to perform well on the job because high-net-worth families notice mistakes more than the average middle-class family.
Written for assistants and estate managers working for celebrities, CEOs, UHNW families, billionaires and royalty