Agile Learning in Brokerage industry & Role of HR

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Since 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. 33–34; Dhar and Stein 2017). This comes with a growing number of digitalized (automated) processes (Ehrenfeld 2017), which are less integrated in core banking systems, but are often developed inhouse following agile methodologies with defined API interfaces (Alt and Puschmann 2016, pp. 153–185).

(Reference: springer, 13th Aug 2018)


Refer below from Deloitte on Agile learning to have an idea on the scope of the agile learning in financial industry.  

Financial services institutions often operate in an environment that is fundamentally different from that of technology product companies. Successful adoption of Agile is contingent upon addressing important differences in the areas listed below. 

  • Scaling Agile beyond a team: Often program goals are too complex to be achieved by a single scrum team, requiring adoption of scaling frameworks to deliver value.
  • Managing globally distributed teams: Due to cost and talent constraints, it’s not uncommon to have teams split across locations, posing certain challenges to Agile banking adoption.
  • Working with third-party service providers: Many critical applications are built by integrating customized versions of third-party products, resulting in architectural complexity and continued reliance on service providers.
  • Collaborating with legacy, Waterfall teams: Interdependent systems often result in Agile product teams having upstream or downstream dependencies on some legacy teams who may not be as responsive to change or as flexible with testing.
  • Measuring success: Monitoring tools, as well as Agile project management software, can track a lot of data points, but the key is to select a few that can reliably tell the tale and allow immediate course correction.
(Reference: deloitte, 20th Nov 2020)



Considering above factors given by the Deloitte, HR need to assist in building globally distributed team. Further, HR need to manage the relationship with thirds party service providers with the brokerage firm and HR need to assure that proper tools are in place to measure the adoptability in processes.

Adding on to above when HR helping to build globally distributed team, HR need to recognize the skills gaps by arranging assessments and bridge knowledge gaps on agile learning methods. In Helicopter view, agile HR is more integrated with other teams rather than work independently therefore, agile HR make more responsive to market/Customer requirement in wider view.  

Some brokerage companies` HR department purchases agile learning courses for their employees and make employees competence on the methodology.  


Refer below from Udemy to understand the companies that offered paid courses for their employees and content of the course. 


(Reference: udemy, N/A)


Visit below video to understand how agile HR, revolves in modern day organization.






  (Reference: YouTube, 12th June 2018)








References.

 

“Agile HR - the New Role of HR in Agile Organizations.” YouTube, 12 June 2018, youtu.be/BbJmO4cOoHg?si=iA9q1RNRYV7wkR-P.

Alt, Rainer, et al. “Fintech and the Transformation of the Financial Industry - Electronic Markets.” SpringerLink, Springer Berlin Heidelberg, 13 Aug. 2018, link.springer.com/article/10.1007/s12525-018-0310-9.

Get in touch                                            Tushar Daru            Lead Technology & Innovation Partner                                  tdaru@deloitte.com                                                                                      . “Agile for Financial Institutions.” Deloitte United States, 20 Nov. 2020, www2.deloitte.com/us/en/pages/consulting/articles/agile-for-financial-institutions.html.

Understanding Agile | Complete Guide for Beginners | Udemy, www.udemy.com/course/understanding-agile-complete-guide-for-beginners/. Accessed 17 Dec. 2023. 




Comments

  1. Madusha Dilrukshi HettiarachchiDecember 19, 2023 at 8:15 AM

    This article discusses the profound changes companies are making in critical areas such as Scaling Agile beyond a team, managing globally distributed teams, and working with third-party service providers.
    Long-term planning models have mostly been replaced by addresses that enable firms to innovate and adapt more quickly, as well as by their core operations and services. Agile talent strategies are being adopted by HR departments to align with and complement the efforts of the rest of the company. They are embracing certain fundamental principles from the technology industry, but not all of the standards, so you might say they are going "agile lite."
    Employers using agile talent strategies are paying close attention to how their staff members feel about the workplace and, in certain situations, are even treating them like clients. Agile is no longer only for tech.
    It has been making its way into additional units and roles, such as marketing, manufacturing, and product development, and it is currently changing the way businesses hire, train, and manage their workforce. (Cappelli and Tavis, 2018)

    References
    Cappelli, P and Tavis. A, 2018, HR Goes Agile, Harvard Business Review, Available at: https://hbr.org/2018/03/hr-goes-agile,(Access on 19th December 2023)

    ReplyDelete
    Replies
    1. Hashanka Gunasekara - HR360December 20, 2023 at 4:22 AM

      Thank you Madusha for your opinions on agile HR. I`m agreeing with you on the evolution of agile HR from Tech firm to other areas as well. That indicates how important is the agile learning in HR and why HR need to embrace agile learning.

      Delete
  2. Supun RupasingheDecember 19, 2023 at 11:55 AM

    Considering the need for agile learning in the brokerage industry, how does HR plan to assess and bridge skills gaps within a globally distributed team?

    ReplyDelete
    Replies
    1. Hashanka Gunasekara - HR360December 20, 2023 at 4:26 AM

      Thanks, Supun for your question! Addressing to your question in nutshell, HR need to collaborate with different team in order to identify the training requirements and design the training programs. Intergration with different department would result in HR to be flexible on the needs ultimately satisfy the end customer and company`s best interest.

      Delete

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