How a powerful marketing strategy can be used in Human resources: "Raymond James Financial" example

Docs en anglais | 5 pages | 11-08-2008 | Format : | Note : Non noté |

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Résumé

In 2002, Raymond James Financial (RJF), headquartered in St Petersburg, sells financial services through two channels: pure employees and independent contractors. In October 2002, RJF is considering Helck's proposal of adding a third "hybrid" model, "in the middle" of the two others, called "Quasi". The new proposal would create a "quasi" employee who would have some of the benefits of being an employee while enjoying more independence than a traditional employee in running his own business and client portfolio.
So RJF, which already offers a much diversified portfolio of financial solutions to its end customers, is also thinking of widening the value proposition they make to prospective employees.
How diversified should this offer be? What could be the processes used by Raymond to make sure to place the "right advisor at the right place"? Which advisors should sell in which schema? To what extent could Helck's Quasi proposal be a key competitive advantage for RJF? Should Quasi project be a Go or a No-Go?

After exposing key information concerning financial services industry, Raymond's activities and their positioning among competitors, we will explain what the main challenges are for RJF in the current market trends. Eventually we will show whether they should go for this Quasi project and, if so, under which conditions or modalities for it to be a vector of growth. Here we will use a slightly different focus of marketing as clients here are the potential recruits and product marketing strategies here refer to how Raymond will "pitch" his company during HR recruitment sessions.

This reflection has been guided thanks to a Harvard Case Study.

Table of contents:

Outline

1) KEY POINTS ABOUT RAYMOND JAMES FINANCIAL'S ACTIVITIES

1.1. Raymond James Financial
1.2. Industry overview
1.3. Competition overview

2) MAIN CHALLENGES: HUMAN RESOURCES MANAGEMENT

2.1. Broker/dealer firms' main asset: their people
2.2. RJF innovating two-channel model

3) THE PROJECT CALLED "QUASI"

3.1. Advisors' job market segmentation: identifying new needs
3.2. Permeable channel frontiers
3.3. A powerful making strategy to attract more talents and retain them...
3.4. ... ending in a more successful team and improved client confidence

Conclusion

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