Trust Updates Archive
(September 3, 2009--Chicago, IL) -- Bank CEOs’ rank training as very important (6.2 on a 7 point scale), but acknowledge their institutions are failing to adequately address the issue, according to a study conducted jointly by the American Bankers Association and the Corporate Executive Board (CEB).
While banks currently hire 60 percent of their employees from within, nearly 1 of every 2 CEOs responding believed they are not doing enough to help their employees grow. A belief supported by industry statistics.
The study found banks spend an average $650 per employee on training while companies in other industries spend an average of $1,100 per employee.
"The study raises the question: what is being done to prepare the next generation of bank leaders?” said Doug Adamson, executive vice president of ABA’s Professional Development Group, which sponsored the study.
Of greater concern is the study’s finding that nearly 3 out of every 4 bank CEOs were unable to assess the impact of training on performance.
“Engaging your employees will drive retention and bottom-line results,” said Russell Davis, managing director of the Corporate Executive Board’s Financial Services Practice. “Today, every bank risks losing its future talent base.”
For an executive summary of the study (Click Here).
For more information on the CEB Click Here.
No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance.
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