Hashanka Gunasekara (E191423) - HR360 View

S ince the Brokerage industry is a fast-paced industry, employees should have adopted agile learning methods. Therefore, HR holds a vital role in helping employees to be updated on the market condition learning.  Refer below extract from springer to understand, how rapidly changing the industry & importance of agile learning methods. At the internal organization level, FinTech comprises a change in business focus from internal business processes into adopting a customer-centric perspective (Alt and Puschmann 2016, pp. 36–40, pp. 94–102; Davies et al. 2016; Marjanovic and Murthy 2016; Pousttchi and Dehnert 2018; Goodale 2012). Multiple aligned online channels complemented and partly substituted the classical branch offices (Shim and Shin 2016, pp. 170–173; Davies et al. 2016; Goodale 2012) and core competencies shifted from customer service, products and transaction handling towards the management of online channels, data analytics and platforms (Alt and Puschmann 2016, pp....

M ost brokerage firms support their employees in continuous professional development since the CPD programs help to grow employees as individuals and organizations in wider scope. Therefore, HR needs to align CPD with the brokerage firm's goals.  Continuing professional development (CPD) is defined as learning experiences which help you develop and improve your professional practice. This can include building on your strengths, as well as developing yourself where you have capability gaps. That’s why it’s so important for you, and why we’re committed to providing you with as many opportunities, tools and resources to embed CPD into the flow of your work and life. (Reference: cipd, N/A) Watch the video clip below on a case study conducted by CIPD on CPD. (Reference: YouTube, 17th June 2016) HR needs to design assessments to identify gaps in fulfilling professional development and design training programs to address these gaps. Most of the time HR uses an e-learning platform to bridg...

L earning and development on customer relationship management is vital as it has a direct impact on customer retention, customer satisfaction, and competitive advantage management using efficient sales. Therefore HR as a function needs to identify training needs on CRM management skills and implement a recognition system addressing better CRM management. The Human Resources department can be involved in improving learning & development on CRM through several initiatives such as conducting customized training programs for broker-dealers, implementing feedback mechanisms, facilitating e-learnings on CRM best practices, etc.  Most of the Financial brokerage firms use CRM tools and software to manage customer relationships much more efficiently. Refer below video from interactive brokers to understand how usability of it. (Reference: YouTube, 09th Nov 2022) However, as a function, HR will have to face many difficulties when linking performance & KPI with customer relationships ...

As technology continuously advances, the requirement to safeguard from cyber threats also increases rapidly. An analysis from CIPD emphasizes the importance of cyber security. Refer to facts and figures from the analysis below.  A KPMG study showed that a third of all UAE organizations suffered cyber security breaches in 2015 and Oxford Economics reported that the average large business loses £120m (US$156m) when it is hit by a hacking attack. (Reference: CIPD, 19 th Jul 2017) Another important aspect is training employees who do not come from an IT background. Regardless of the employees’ IT knowledge, every employee in the brokerage firm is exposed to cyber security threats. Therefore, HR has a duty to protect employees without IT knowledge by educating them on cyber security protocols. In addition to above mentioned duty, HR needs to ensure brokerage companies employ the right candidate to mitigate cyber security risks. (Reference: CIPD, 19 th Jul 2017) Refer below v...

Maintaining a demo trading platform to train employees can be observed throughout the industry. Demo trading platforms have resulted in building a risk-free environment for employees to learn and experiment with various trading strategies. One reported characteristic of the modern learner is the ‘digital native’ (Prensky 2011). This concept refers to younger generations of learners that have grown up surrounded by and using technology. They expect constant connectivity and use technology and the internet as their first point of call for gathering information – in fact, some researchers believe they may also process it differently (see Prensky 2011, Siemens 2005). This, coupled with the pervasive use of mobile and social networking sites away from the workplace, led some to suggest that technology will be widely accepted as a vehicle for learning. (Reference: cipd, Nov 2017) The above statement indicates how the role of technology plays a significant role in order to take the attentio...

Product and market training is a vital aspect of the brokerage industry since employees need to have a good understanding of complex financial products and markets to perform business-as-usual (BAU) activities. Therefore, most brokerage companies regularly arrange product and market training for their employees to give an understanding of the complex finance instruments and the product portfolio. The human resources department needs to synergize with other departments and needs to identify special training needs in other departments. Based on the training needs identified the HR department needs to construct a tailored training plan. Subject Matter Experts play a vital role by giving their input towards training requirements.  Some Brokerage companies maintain their own university to keep employees up to date on the financial industry.  A university that maintains in company`s intranet gives easy access for employees to learn more about organization and industry trends. Refer ...