Filling the soft skills gap
New research suggests the industry considers improving customer service to be its most important issue, giving itself a rating of 6.3 out of 10 for its performance in this area.
The report, the People Development 2008 Survey (commissioned by Australia-wide Business Training), outlines what the industry thinks needs to be improved, incorporating responses from the senior management divisions of financial planning, funds management, banking and insurance organisations.
The survey, conducted by Business Research Associates in the first quarter of 2008, identified improvements in customer service, business development and recruitment as being likely to have the greatest impact on financial services firms in 2008.
According to Australia-wide Business Training chief executive Larry Gould, a greater emphasis on learning and professional development programs are required to address these challenges.
“The challenges to increase business productivity whilst wanting to achieve business objectives will require a far more flexible and adaptable staff resource,” he said.
A major part of this, according to the research, is the increasing importance of soft skills.
“As roles and structures change — the ‘hard’ and ‘soft’ skill mix required of staff will become more demanding, particularly in delivering the right service and sales skill mix in order to enhance business opportunities,” the report stated.
Recommended for you
Two commentators have shared why cultural alignment can be the biggest deal breaker when it comes to advice M&A and how to ensure a successful fit.
With an abundance of private market options coming to market, due diligence becomes increasingly important as advisers separate the wheat from the chaff, adviser Charlie Viola has said.
The Treasury has launched a consultation into how the $47 million special levy for the Compensation Scheme of Last Resort will be funded.
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
