Wednesday, May 20, 2015
Has the time come to retire HSBC's retirement research?
HSBC should be congratulated as one of the first major financial services companies to take the issue of global ageing seriously and trying to understand its implications.
I am sure the research project, that began in 2005 and has since survey over 141,000 people worldwide, has both improved HSBC's profile and provided, assuming it has used its own findings, useful insights when creating its retirement products.
The latest incarnation of the research has just been published (Choices for later life).
I have to be brutally honest, but I think it is scraping the barrel to find new useful insights. Perhaps this is the success of the previous reports but it looks to me as if all the big stories have been covered. The bank is not alone with this problem since much of the research and white papers are churning over well covered subjects.
Maybe HSBC should have a ponder what to do with its research budget because I think it is getting diminishing returns from this project. Now if it would like to speak to me I could provide some suggestions! One good place to start is to evaluate the CX that it provides these retiring customers. Dick Stroud