Kirstie Eustace is the chief human resources officer at Steward Partners, a hybrid RIA firm. In her role, Eustace oversees strategic HR initiatives, talent management and organizational culture to align HR practices with overall business goals.

Russ Alan Prince: How important is firm culture, and what initiatives can firms leverage to build and sustain a healthy working environment?

Kirstie Eustace: An effective and impactful culture is central to any successful organization, especially as talent is one of the most critical assets a company can possess. A strong, positive culture not only attracts top talent but also retains it, fostering loyalty, creativity, and engagement and ultimately driving business successes. Culture is the foundation upon which an organization is built. It influences decision-making, shapes the work environment and directly impacts how employees feel about their role and the company.

To build and sustain a healthy working environment, it’s essential to be intentional about your culture. This means embedding it into every aspect of the employee lifecycle—from recruitment to onboarding, performance management and beyond. One initiative that has been particularly effective at Steward Partners is the feedback model we use for our management team, which is anchored in our core values. By regularly assessing and reinforcing these values, we ensure that our culture remains strong, and everyone is aligned with our mission. Further, it reflects the collective commitment each team member has to each other and the firm.

It’s critical to be a role model when implementing a budding culture that evolves with the firm. Culture should be living visibly and demonstrated regularly showcasing the embodiment of the firm’s values and respective employees. A leadership position requires one to not only hold oneself to a higher standard but also to hold oneself accountable for one’s actions. With that said, articulating expectations and implementing feedback will access greater firm clarity, establishing higher levels of trust and honesty with employees.

Another key initiative is ensuring that new hires are immersed in the culture from day one. At Steward Partners, we’ve introduced welcome gifts and new partner welcome calls, which aid immediate integration. Additionally, we’ve implemented a service recognition program to celebrate milestones, reinforcing the importance of long-term commitment and shared success.

But culture is not static—it must evolve with the organization. As firms evolve, it’s important to revisit and refine cultural values, ensuring they remain relevant and effective. Steward Partners’ culture has evolved as we’ve grown, with an emphasis on preserving the core values of partnership and ownership while adapting to the needs of a larger, more complex organization. Engagement is key to understanding and responding to change. Inviting feedback and being prepared to make changes demonstrates a firm’s willingness to evolve.

Prince: What’s the significance of developing a well-defined, understandable, and comprehensive organizational structure in the workplace?

Eustace: A well-defined organizational structure is crucial for several reasons. First and foremost, it provides clarity. Employees need to understand their roles, responsibilities and how they fit into the broader organization. This clarity drives accountability, ensuring that everyone knows what is expected of them and how their work contributes to the company’s goals.

At Steward Partners, our growth has necessitated a more structured approach. Early on, many of us wore multiple hats, which was necessary at the time but is not sustainable as an organization scales. A clear structure allows for specialization, where individuals can focus on their areas of expertise, driving efficiency and effectiveness across the firm.

Moreover, a comprehensive structure supports career development. It provides employees with a clear pathway for advancement, helping to retain top talent by offering opportunities for growth. It also facilitates better communication and collaboration, as employees understand the flow of information and decision-making processes.

However, it’s important that the structure is not overly rigid. In today’s fast-paced business environment, organizations must remain agile. While structure is important, it should be flexible enough to allow for innovation and quick decision-making. At Steward Partners, we’ve worked hard to strike this balance, ensuring that while we have a clear structure in place, we also encourage cross-functional collaboration and adaptability.

Prince: Are there any effective strategies that firms can leverage in a post-Covid environment to help manage a return to in-office work?

Eustace: The post-Covid workplace presents unique challenges and opportunities. Many firms are navigating the complexities of hybrid work models, where flexibility and adaptability are key, and it’s crucial to prioritize communication and inclusivity.

Clearly communicate the rationale behind any return-to-office policies. Employees are more likely to support these decisions if they understand the underlying reasons—whether it’s to foster collaboration and maintain company culture, or if it’s regulators setting out policies and expectations. Transparency is critical, as is soliciting feedback from employees to ensure that their concerns are addressed. We do this effectively by leveraging our advisor and sales support professional councils for input and feedback.

It's important to offer flexibility wherever possible. The pandemic has shown us that many employees can be as productive, if not more productive, while working remotely. A rigid approach to in-office work may lead to disengagement, turnover or missed opportunities to identify and hire talent irrespective of their geographic location. Instead, consider a hybrid model that allows employees to balance in-office and remote work based on their roles and responsibilities. This approach not only supports work-life integration but also acknowledges, and supports, the diverse needs of the workforce.

At Steward Partners, we’ve created a heightened awareness of mutual respect, especially regarding employee health and well-being. Post-pandemic, safety remains a top priority for every employee, and effectively implementing safety policies is paramount to maintaining a comfortable working environment for all. This was a net positive for our partners, as it established a mutual understanding of how strong and connected we are.

Being a part of an organization at the forefront of changing landscapes is a testament to remaining vigilant and flexible regardless of situational environments and contexts. For offices implementing any return-to-work directives or hybrid models, it’s imperative to navigate challenges with agility, viewing them as opportunities for growth and innovation.

Firms should also focus on re-establishing connections within the team. After long periods of remote work, it’s important to rebuild the sense of community that may have weakened. This can be achieved through team-building activities, regular in-person meetings and creating spaces where employees can interact informally. The best results to boost culture are through feedback mechanisms that directly reflect the needs and desires of one’s team. Don’t be afraid to embrace changes, the culture of a firm breathes life into every interaction, and will greatly benefit everyone in the long run.

Russ Alan Prince is a strategist for family offices and the ultra-wealthy. He has co-authored 70 books in the field, including Making Smart Decisions: How Ultra-Wealthy Families Get Superior Wealth Planning Results.