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Financial services sector investing more in training and development

While budgets for training and development came under pressure during the recent economic downturn, they are now firmly back on the agenda in the financial services sector, according to new research from Robert Half Financial Services. 

 

Recognising the perceived value of training and certification to employees, nearly four in 10 (39%) of financial executives state they will increase investment in professional development in the year ahead.

 

From preparing for succession planning to increased employee motivation, job satisfaction and efficiencies in processes, the benefits of training and development are well documented with employers and employees alike reaping the rewards. According to Robert Half’s research, companies’ investment in training and development will increase, on average, by a fifth in the next 12 months.

 

Certification courses (49%) and mentoring (48%) offer the greatest career development opportunities for financial services professionals, followed by on-the-job training (39%) and tertiary & post graduate education (34%).

 

100 UK financial executives were asked: “Which of the following offers the greatest training and career development opportunities for financial services executives?*”

 

External training certification and courses

49%

Mentorship

48%

On-the-job training

39%

Tertiary & post graduate education

34%

In-house training by HR or third party

31%

Cross-functional team training

23%

Reverse mentorship

8%

*Multiple responses permitted.

 

Luke Davis, vice-president at Robert Half Financial Services, said, “The success of any business depends on its people. As employers continue to seek ways to improve their staff’s motivation, engagement and productivity, they should not overlook reviewing their training and development plans.

 

“The planned increases highlight the importance of attracting and retaining the best people, particularly in light of the current skills shortage. Professionals today are eager to find ways to advance their career and professional development. The most successful training and development programmes are those that are tailored to the individual and their personal career path within the business.”

 

Image courtesy of Pixabay

 

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