Financial services sector investing more in training and development

26 October 2016
  • Training and development is back on the agenda for nearly four in 10 (39%) financial executives
  • Investment in training and development due to increase by a fifth in the next 12 months
  • Certification courses (49%) and mentoring (48%) are reported to offer the greatest opportunities for financial services professionals

London, 26 October 2016 – 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 leading specialist recruitment consultancy, 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 inefficiencies 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, 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.”

- ENDS -

Notes to editors

1 The annual study was developed by Robert Half UK and is conducted by an independent research firm.  The study is based on more than 100 interviews with senior financial services executives from companies across the UK, with the results segmented by size, sector and geographic location.

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About Robert Half

Robert Half is the world’s first and largest specialised recruitment consultancy and member of the S&P 500. Founded in 1948, the company has over 325 offices worldwide providing temporary, interim and permanent recruitment solutions for accounting and finance, financial services, technology and administrative professionals. For more than 15 years, Robert Half has been named to FORTUNE® magazine’s list of “Most Admired Companies” (1 March 2016) and offers workplace and job seeker resources at roberthalf.co.uk and twitter.com/roberthalfuk.

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