ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On Perestroika and Glasnost

decline of these institutions some years later. Appropriate personnel management is particularly crucial in trading activities (money market operations). In this area of business, the volume at stake is enormous, fluctuations in prices are sharp, the potential for profit or loss is large and the obsolescence of expertise is rapid. If a bank is to hold on to its top trading teams it not only has to hoist salaries higher and higher but also has to effect a complete change in mentalities and thinking patterns, which necessarily is a long drawn out process. In creating and retaining highly rated and widely wooed expertise, the author recommends a multi- pronged strategy, including constant training and retraining, infusion of corporate value systems through regular planned interactions with top management, profit-sharing depending on the nature of the activities and a management model that combines the strength of team-work with recognition and rewarding of individual performance.

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