The Uniqueness of Employee Training in the Banking Industry

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I want to start a series on the blog. being more industry-specific, so I hope over the coming weeks and months to focus on specific professions and various industries, and look at the uniqueness of employee training programs and strategies within each.  I hope also to be able to conduct interview with leading learning professionals from each field, and get their insight as well. Let’s start with the banking and financial services industry. Employee training is an important factor in each and every industry, as it helps the workers to stay aligned with the organizational goals. It also serves as an extra layer of security for the financial sector, which has suffered from a major budget reduction within most companies due to the economic recession. Furthermore, having a document proof for employee training certification is required in any regulated industry. However, employee training in the banking industry features some unique elements which make it stand out from the crowd. First of all, most banks offers a full program of training and development, which is addressed to those who want to specialize in banking, both graduates and people with practical work experience. This is the main gateway to a job in a bank, but it is also required for the workers to stay in line with the latest industry standards. Banks usually offer an intensive introductory course which lasts for over six months, but also several training courses throughout the employees’ working period. These courses are specialized in the theory and practice of financing and banking from a responsible perspective, teaching the employees all they need to know about working with customers and managing difficult tasks. The practical training is usually organized in within the bank’s branches or agencies, and while most workers will do the training within the working program, some of the newly employed people might have to travel to other agency locations for individual study. Employee training in the banking industry offers participants a unique opportunity to bank and realize which the skills and personal qualities of a successful candidate are. Banks also offer consistent training methods which helps them in providing exceptional quality services for their customers. The main themes of a bank’s training program cover the following topics: – Principles of banking, financial and economic foundation. – Key Concepts of economic development, environmental management and globalization. – Explanation of customer care and banking. – Mathematics and Accounting. – Tasks and projects designed to develop skills and personal qualities, both individually and as team members. – Business philosophy and history of the bank which allow candidates to reveal corporate culture and ethics of the bank’s code and to apply it in their daily operations. Although these topics are mainly included in the theoretical part of the training program, participation in it involves not just the inert absorbing information. Instead, participants are encouraged to participate actively in discussions and debates, and they will often receive specific tasks and projects to develop help them develop their professional and personal qualities – both individually and as team members. This reflects the expectations that they have from the employees, regarding their involvement, open communication and proactiveness in the daily work. Also, the theoretical part of the program is supported by practical training means. The benefits of employee training program involves first understanding the application of their business philosophy about responsible banking and building lasting relationships based on trust with customers. During visits to branches and agencies, a banking training program offers participants the opportunity to get to know their customers better, to find out which their needs and expectations are. In addition, the practical training shows them how to develop and maintain a successful business relationship.
Jason is the former Lead Author & Editor of TrainingStation Blog