Dallas, TX: ReportsandReports announce it will carry Strategies for Keeping and Motivating Relationship Managers Market Research Report in its Store. Browse complete Strategies for Keeping and Motivating Relationship Managers Report Introduction 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. 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. Scope Highlights 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. Private banks identify that there are a number of non-financial factors that today’s RMs want from their employers including good quality management and back-end support and recognition. 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 Table of Content Overview Catalyst Summary Methodology Executive Summary The world that relationship managers inhabit has changed dramatically Wealth managers realize that non-financial factors are important to their bankers Table of Contents Table of figures Table of tables 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 Datamonitor highlights three areas which are key to keeping and motivating RMs now Key recommendation: put in place formal career development programs for RMs Key recommendation: teach management the importance of communication Key recommendation: seek to bolster banking brands Appendix Methodology Wealth Management Market Leaders Survey 2010 Bibliography Further reading Ask the analyst Datamonitor consulting Disclaimer Browse complete Strategies for Keeping and Motivating Relationship Managers Report Browse all Banking and Financial Services Market Research Reports Browse all Datamonitor Market Research Reports RSS Browse all Latest Report Related Reports: Program-Building Tool: Motivate Employees to Innovate 2010 U.S. Agents & Managers for Artists & Athletes Industry Report 2010 U.S. Real Estate Property Managers Industry Report About Us: Contact:
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