Maintaining and nurturing a healthy company culture can be challenging when a firm is experiencing rapid growth. Even more so when that growth comes from acquiring other firms.
“It’s one thing to have the same technology and investment platform; it’s another thing to integrate the people,” said Jeremy Kovacevich, partner with HoyleCohen Wealth Management, a regional RIA headquartered in San Diego. The firm has grown from 15 to 60 employees over the past 10 years, primarily through mergers.
Three years ago, the company founded a culture committee to help newcomers feel at home and create a cohesive culture among all employees. The committee is composed of nonmanagement members from all four offices. Its duties include assigning mentors for new employees, hosting events to engage employees with associates in different departments, and soliciting and implementing employee suggestions (such as unlimited paid time off).
HoyleCohen also celebrates new employees by flying them and their families to San Diego for special welcome events.
“We strive to bring out the human element with these initiatives,” Kovacevich said.