Asset managers are struggling to hang on to young professionals, especially analysts, who are more prone to leave in search of better career opportunities than more seasoned professionals. This is according to a survey by discretionary fund manager INN8 Invest. “Analysts tend to leave if it will help them advance to the next level, which goes to show why about 35% were likely to have left for better growth opportunities,” says the research.
Listen/Read: There has been an exodus of SA’s skilled workers According to the research, some 63% of the asset-management firms surveyed said that their compensation structures are not responsible for exits. Just 9% of survey respondents say remuneration, including share ownership, was possibly the reason for staff quitting.
Asset managers must change gears Other retention measures include improved succession planning and business continuity, and reducing the risks of having a single decision-maker. Of the asset-management firms surveyed, 78% follow a joint decision-making process. Some firms have put in place incentives to give employees meaningful responsibilities, while paying for training, studies, and mentorship programmes.
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