October 2024

Posted by Anton Murray Consulting on 29 Oct, 2024

The need for new skills is one of the biggest challenges for businesses today. Change is inevitable and this has been recognised by CEO’s across the world, with 40% of them believing that their companies would not be viable in the next 10 years if they continued on their current path. With this in mind, many organisations are implementing a culture of learning citing a direct correlation between employee engagement and innovation. The transition is one that requires deliberate effort and poses leadership challenges which leads us to the question of:

Is Change Necessary?

The pace of change in the finance industry has never been greater with digital technology, increased regulation and globalisation being some main drivers. There is no better example of this than the last 15 years.

Social media has changed the way we consume information and communicate. There were 970 million social network users in 2010 but that number has ballooned to 5.17 billion in July 2024.
SEO is here to stay and constantly changing which means staying updated is crucial.

With more than 4.5 billion smartphone users worldwide, mobile apps and technology are pivotal to sustained business success. If sustainability, profitability and productivity are listed as organisational goals, change is essential.

Making the Transition

Cultivating a learning culture means creating an environment that demonstrates and encourages learning – both at an individual and organisational level. Business strategies and professional development become aligned through learning which highlights the importance of leaders in the transition. To build a learning culture, an organisation must successfully:

Attract: It is necessary to attract and develop agile learners. Provide adequate on the job learning for current team members and look for the critical skill of agility when hiring new talent.

Create: Trust and collaboration are needed to sustain a strong learning culture. Promote risk-taking and create a secure environment where members can ask questions and feel safe to admit mistakes.

Motivate: The best learning cultures have open communication and reward learning. Employees want to be acknowledged so make it a mission to find the ideal method for each team member.

Prioritise: There need to be clear signals from an organisational perspective that learning is a priority. Create learning communities within the workplace, have dedicated development days, and implement a review process to monitor outcomes.

Value of a Learning Culture

In the current environment, employees are demanding more than just a paycheck with career development opportunities and strong company culture high on the list. An effective learning culture can have a positive impact on numerous key business elements including innovation, strategy, employee engagement and employee retention. Many of the benefits associated with a learning culture will become more evident over time via a ripple effect. Increased engagement and retention enhance employee performance. The subsequent boost in productivity, creativity and innovation creates an organisation that is well-equipped for navigating change and driving growth.

Overcoming Resistance

It won’t be all smooth sailing as some individuals may experience resistance when acquiring new knowledge or skills. Negative attitude, lack of participation, inconsistent effort and lack of motivation are some of the indicators to be aware of. Identifying any underlying causes is crucial for developing effective strategies to overcome them.  Personalised learning plans that provide a balanced development of soft and hard skills can make the learning process more effective. Other strategies include the use of individual coaching, mentor programs and group problem-solving. The aim should be to make learning accessible, continuous and adaptable.

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A leading Private Wealth Manager in Sydney is seeking an experienced Client Services and Operations professional for an initial 12-month contract to manage asset transfers, deceased estates, and client offboarding. https://www.antonmurray.com/job/client-service-operations-associate-private-wealth-12m-initial-contract/

We are seeking candidates with excellent communication and time management skills for a role with a leading international financial institution: https://www.antonmurray.com/job/senior-fund-accountant-reviewer-12-month-temp-contract/

Glencore eyes October ASX listing: https://www.antonmurray.com/glencore-eyes-october-asx-listing/

HSBC sells Singapore insurance arm to Allianz: https://www.antonmurray.com/hsbc-sells-singapore-insurance-arm-to-allianz/

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