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Bankers benefitting from improved business training

schedule 18th October 2013 by Virtual College in Virtual College

Despite all the bad press banking executives have received following the financial crisis of 2008, it seems that, through training and development, they are doing their best to improve corporate culture.

For example, the public are likely to be unaware of the fact that at three of the world's biggest institutions' - Barclays, Deutsche Bank and Goldman Sachs - employees are undergoing training programmes designed to emphasise each firm's values and codes of conduct and create a positive working environment.

At Barclays, workshops have been held in groups of 20 to 30 members of staff, while at Deutsche Bank, workers have had to complete an online test on compliance, with anyone scoring less than 80 per cent "red-flagged", the Financial Times reports.

Meanwhile, at Goldman Sachs, senior bankers have attended sessions where they debate a fictional case study about an institution on the verge of collapse called Diversified Financial.

After watching video clips and reading through accompanying news reports, participants are asked to vote on the best course of action.

Particularly in the cases of Deutsche Bank and Goldman Sachs, it highlights that firms are taking advantage of technology as a means of putting employees' knowledge to the test and providing more engaging educational techniques.

According to Philippa Foster Back, director of the Institute of Business Ethics, recent developments in training and the commitment to improved behaviour is evident across all sectors, and not just in the financial industry.

She added that compared with the weaker efforts of the early 2000s, new programmes involve intensive training and ongoing engagement.

Of course, if they are to continue to thrive, these initiatives may need to make better use of e-learning platforms and handheld technology. 

Deutsche Bank, which supplies its employees with compulsory computer modules, is heading in the right direction, and supplements these courses with face-to-face learning and additional training in risk culture.

Michaela Powell, founder of education recruitment company Aspire People, recently claimed that in order to businesses to get to the top, investing in staff development and training is a must.

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Author: Virtual College

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