Financial Institutions Adopt New Strategies for Keeping and Motivating Relationship Managers
This report incorporates results from Datamonitor’s Wealth Management Market Leader’s Survey of 2010 and recommends three strategies for retaining Relationship Managers.
Rockville, MD, July 31, 2010 --(PR.com)-- MarketResearch.com has announced the addition of Datamonitor’s new report “Strategies for Keeping and Motivating Relationship Managers,” to their collection of Banking & Financial Services market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2730329
The easy and profitable relationships that private bankers enjoyed with their clients and employers before the crisis are no longer. Indeed, the job of a relationship manager (RM) has just become much harder. The balance of negotiating power within the industry has swung fundamentally away from RMs and back towards the private banks, and modest earnings increases and additional management pressure are now the order of the day for RMs.
Banks need to understand these changes and what RMs are now looking for from employers, in order to identify the best ways of retaining and motivating their private bankers.
Given RMs’ changed circumstances and needs, Datamonitor proposes three recommendations which many, if not most, wealth managers should follow in order to both keep and motivate RMs; one of these is putting in place formal career development programs for RMs.
Reasons to Purchase
Understand the outlook for RMs earnings in 2010 across multiple European and Asia Pacific countries.
Find out what RMs want from their employers across the surveyed countries.
Access Datamonitor's best ideas on how to retain and motivate RMs.
Topics covered in the report include…
The Changed circumstances of relationship managers
The world that relationship managers inhabit has changed dramatically
The majority of banks in Europe and Asia Pacific are still focused on retention rather than attracting RMs
The expectation is that the average salary for RMs will increase only modestly in 2010
How wealth managers can keep and motivate relationship managers
Wealth managers are attempting to improve RM retention and realize that non-financial factors are important to bankers
Private banks have been trying everything from forgivable loans to promoting work-life balance to help retain and motivate staff
Wealth managers recognize that a number of non-pay factors need to be addressed to successfully retain RMs
In many countries in APAC, non-financial factors are particularly important in retaining RMs
In many European countries, basic pay is at the forefront of RMs' minds
For more information, visit
http://www.marketresearch.com/product /display.asp?ProductID=2730329
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
The easy and profitable relationships that private bankers enjoyed with their clients and employers before the crisis are no longer. Indeed, the job of a relationship manager (RM) has just become much harder. The balance of negotiating power within the industry has swung fundamentally away from RMs and back towards the private banks, and modest earnings increases and additional management pressure are now the order of the day for RMs.
Banks need to understand these changes and what RMs are now looking for from employers, in order to identify the best ways of retaining and motivating their private bankers.
Given RMs’ changed circumstances and needs, Datamonitor proposes three recommendations which many, if not most, wealth managers should follow in order to both keep and motivate RMs; one of these is putting in place formal career development programs for RMs.
Reasons to Purchase
Understand the outlook for RMs earnings in 2010 across multiple European and Asia Pacific countries.
Find out what RMs want from their employers across the surveyed countries.
Access Datamonitor's best ideas on how to retain and motivate RMs.
Topics covered in the report include…
The Changed circumstances of relationship managers
The world that relationship managers inhabit has changed dramatically
The majority of banks in Europe and Asia Pacific are still focused on retention rather than attracting RMs
The expectation is that the average salary for RMs will increase only modestly in 2010
How wealth managers can keep and motivate relationship managers
Wealth managers are attempting to improve RM retention and realize that non-financial factors are important to bankers
Private banks have been trying everything from forgivable loans to promoting work-life balance to help retain and motivate staff
Wealth managers recognize that a number of non-pay factors need to be addressed to successfully retain RMs
In many countries in APAC, non-financial factors are particularly important in retaining RMs
In many European countries, basic pay is at the forefront of RMs' minds
For more information, visit
http://www.marketresearch.com/product /display.asp?ProductID=2730329
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
Contact
MarketResearch.com
Veronica Franco
240.747.3016
www.marketresearch.com/
Veronica Franco
240.747.3016
www.marketresearch.com/
Contact
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