Retention sans frontieres: issues for financial service retailers

Abstract

This paper develops an outline framework which conceptualises customer retention in financial services retailing. Preliminary investigations through interviews with managers responsible for retention were conducted. These supported further investigation of the framework. The organisations surveyed appear not to have embraced the dimensions of retention as identified, although they recognised the issues. Problematic areas involve cultural change and maintaining staff commitment in an uncertain labour market. Reasons for the slow adoption of retention are suggested and some proposals put forward for further consideration.