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STUDY SHOWS BANKERS FIND RE-EMPLOYMENT DESPITE TIGHT JOB MARKET

 PHILADELPHIA, July 19 /PRNewswire/ -- Demonstrating marketable skills and developing a professional self-marketing plan are the most important factors in successful career transitions for bankers, according to consultants at the firm of Right Associates, where a study on the banking industry has just been released.
 According to the firm's President and Chief Executive Officer Richard J. Pinola, "This study reflects the growing need to recognize the changing relationship between employer and employee, in banking and every other industry. Employees are no longer assured of a job that will last a lifetime, and employers can't assume they will have the unquestioning, long-term loyalty from their workforce they once had. To cope with these changes, we see companies moving toward providing professional on-the-job career management assistance, as well as career transition consulting when a separation occurs."
 Using information on the period from January 1990 to December 1992 from the human resource consulting firm's national data base, Robert Goodell, consulting services director for Right's New Jersey offices, researched the career transitions of 1,162 former bankers who were successful in finding re-employment.
 According to Goodell, "The best way to get re-employed and stay employed in this very competitive economy is to understand what you do best and then to aggressively seek out opportunities where your strengths can make a difference. Whether you're employed or seeking employment, whether you're a banker or a chemist, this is the strategy that works."
 Despite the drop of 109,000 jobs in depository institutions (commercial banks, savings and loans, and credit unions) during the study period, the majority of Right Associates-assisted individuals found new positions within three to seven months. Fifty-four percent were able to maintain or increase income in their new position. Only bankers over the age of 50 required a longer period of time to find their next job and had less success at maintaining their income.
 Four career paths proved to be the most popular for the majority of bankers in the study:
 -- Moves to smaller regional or community banks from large, money- center institutions;
 -- Choices among organizations providing "outsourced" services;
 -- Choices in financial consulting;
 -- Moves involving the same function within a different industry.
 An analysis of the career transitions of some of those whose incomes declined shows the importance of maintaining marketable skills. About 13 percent of the study group left line positions for staff roles, which often pay less. Others could only perform very focused tasks and did not possess the broader, more general, skills demanded by the job market.
 About 10 percent (110) of the total population of the study made definite career shifts of function or industry. Of this 10 percent, 21 percent shifted functions within the banking industry; 22 percent went into consulting; 7 percent became entrepreneurs. The balance chose among a variety of fields including sales, insurance, and non-profit organizations.
 Based in Philadelphia, Right Associates is a human resources consulting firm, dealing in career management, organizational development, and outplacement, and has more than 100 offices worldwide. Copies of the study are available by calling Nancy Blethen at 201-746-8183.
 /delval/
 -0- 7/19/93
 /CONTACT: Nancy Blethen of Blethen & Youdovin, 201-746-8183, for Right Associates/
 (RMCI)


CO: Right Associates ST: Pennsylvania IN: FIN SU: ECO

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MK-JM -- PH006 -- 2952 07/19/93 10:03 EDT
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Date:Jul 19, 1993
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