Relationship managers are managerial level staff that may be a part of either the customer service or sales departments of a company or business. Relationship managers are primarily responsible for improving business relationships with both clients and firms partnered with their employing company. They are also responsible for communication between their company and any partners, and so are often tasked with resolving problems or managing certain legal boundaries that may exist between two entities.
On this page, Links Recruitment will show you all that you need to know about the role of Relationship Manager. Any employers looking to hire a relationship manager will find resources to help you make an application for hiring your next relationship manager and attract the best candidates for the job. Job seekers will learn more about this role along with career paths that are possible as a relationship manager.
Relationship manager work will be largely communication focused, though some business or financial tasks will also be included in their workload. Relationship managers frequently report to chief executives like CEOs or CFOs, though they may also report to the head of a sales department or customer service department depending on the exact business hierarchy.
Their work is both human and data-focused, with an emphasis on social networking and strong relationship building. Relationship managers will spend most of their day setting up meetings either within the company or with clients of their company. This involves a fast-moving workplace lifestyle. While relationship managers will spend lots of time at their office and communicating with their superiors, they will also be on the move to make in-person meetings with clients and executives.
There are two major types of relationship managers: client and business. Client relationship managers mostly work with senior executives, sales managers, or anyone who influences sales decisions for a business. They cultivate trust and value between their company and any clients. They are often responsible for ensuring that a client returns for repeat business and may work very closely with several clients to resolve issues and smoothen business arrangements.
Business relationship managers handle more communication work between their employing business and other corporations, suppliers, and any other outside entities. They may handle the tracking of product shipments, budgets, cost factors, purchases, and any other aspects of a business’ economics that interact with another corporate entity. They will also frequently communicate with other businesses to make transactions, create trustworthy relationships, and improve the reputation of their company. They may further perform community outreach projects to improve the look of their business in local communities.
Larger firms and businesses often employ relationship managers in one of the above two types. Smaller businesses may have a single relationship manager that handles both sets of duties.
Ultimately, the goal of a relationship manager is to improve the quality of existing business partnerships of their employing company or firm and to find and develop new business partnerships to facilitate growth. This can take several forms and is more active and socially involved than many other administrative positions within companies.
Relationship managers have a plethora of job duties and responsibilities that they must maintain. The following are some of the most common:
A relationship manager is a critical role in any business looking to make the most of its clientele. As a result, the proper skills and experience are needed to fulfil his position effectively.
Relationship managers usually hold a diploma in business, communication, or a similar field, and they may be recruited right out of college depending on their network connections. However, most relationship managers will join a company in a junior position and work in either the customer service or sales teams. As they gather experience within that company, they may be promoted to the position of relationship manager. Alternatively, one can become a relationship manager if they have enough relevant experience in solving client needs or working in customer service.
Moving up to a relationship manager from a lower position generally takes between 2 to 4 years of professional experience on top of a bachelor’s degree. Becoming a relationship manager for high profile companies or firms often requires experience as a relationship manager already. Years of experience required can range from 4 to 10.
After enough years of service and successful business operations, relationship managers may be elevated to the heads of sales or customer service departments if they were beneath those positions within their business. Alternatively, relationship managers can become senior executives depending on their business’ organization.
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Check out Links International salary guide for more information on salaries and trends in 2020.
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