The increased importance of self-development in banking
No longer limited to young and highly ambitious employees, self-development is a path for growth and survival in a time of disruption. While organizations can assist in this process, bank and credit union executives can no longer wait for a formal training program or for others to set a defined path.
It is becoming increasingly clear that in order to be better positioned for the future of banking, new skills and capabilities will be required. Organizations will definitely need to invest in human resources, balancing the diverse development needs of current and future employees. In response to this challenge, financial institutions are trying to determine how employee development can be better integrated into the digital and technological goals and strategies that are increasingly fluid in the banking industry.
When determining the best way forward, banks and credit unions are working to improve communication, involvement and participation of employees in various internal training programs. Alternatively, some are emphasizing and providing incentives for personal development options as opposed to formal training, with staff empowerment being the mission. Whatever direction is taken, it is becoming increasingly clear that learning will increasingly become a competitive advantage and/or a survival tool in financial services.
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