Training Magazine - October 2007 - (Page 32) ////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Training deLuxe ////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Ensuring high-caliber service for affluent customers is rooted in rigorous training. BY KELLY SHERMACH I 32 n the U.S.—where a growing glut of goods and services panders to the increasing ranks of affluent consumers— banks, insurance companies, and restaurants are among the businesses investing more time and training in their staffs. Employees who know the business they represent and the lifestyle they service engage wealthy clientele and nurture their loyalty. The loyalty of the luxury or affluent consumer is a lucrative thing, and pioneers in meeting the needs of high-net-worth consumers in any category stand to reap 80 percent of that sector’s profit pool, according to Wise Research Ltd., Somerset, England. Driven by a strong global economy, the wealth of the world’s high-net-worth individuals increased 11.4 percent to $37.2 trillion in 2006. Merrill Lynch and Capgemini’s 11th annual World Wealth Report states this represents the first double-digit growth in seven years. This population increased 8.3 percent in 2006, to 9.5 million worldwide. HSBC has been taking steps to acknowledge this growth and differentiate service to wealthy consumers. This spring, an HSBC retail bank branch in Hampshire, England, reopened with “staff exclusively trained to deal with our Premier customers,” says James Thorpe, a bank spokesman. The wealthy area warrants a Premier facility in addition, he says. The company provides 50 other Premier centers around the UK in mainstream branches and 200 in other markets. Sri Lanka w w w. t r a i n i n g m a g . c o m | OCTOBER 2007 t r a i n i n g http://www.trainingmag.com
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