How to Fill the Financial Skills Gap
One of the key issues that the majority of more dynamic businesses within the finance sector face today is the worsening skills shortage. From local accountancy firms to multinational banking conglomerates, key players within the financial industry are now finding their potential to grow is hindered by a dearth of the right human capital.
In some areas, the decline is due to a lack of recruitment skills within the organisation, or the potential to source the right people in the right location. In others, it is the inability to retain the talent once it has been recruited, or the need for more training.
Initial indications following the Brexit vote point to a tightening of immigration rules which could further limit the number of skilled workers that can be brought into the industry from abroad, giving CFO’s across the country an even bigger headache.
It is no longer solely the responsibility of the HR department to ensure the need for human capital is fulfilled. In today’s industry, every stakeholder must be focused on ensuring the right people are on board – and that they stay that way.
One of the key ways to ensure access to the widest possible talent pool, and improve retention across the financial industry, is to become more flexible.
Initiatives such as ‘Hire Me My Way’ have shown that companies who are open to a more flexible approach to employment gain access to much broader skill sets. But with this ability to offer more flexible opportunities to employees, the finance industry is now creating its own cost efficiencies too.
By using a Virtual Desktop Infrastructure – Desktop as a Service (DaaS) – it is possible to enable remote workers and provide more flexibility to employees, while reducing overheads.
An MDM is capable of making employees more productive, turning mobile devices into productivity tools while still offering significant savings over traditional dedicated IT support costs. Such a system provides brokers, lenders, and advisers with the ability to exploit their skills within their own parameters, creating an environment which inspires them to perform.
Mobile Device Management MDM is key in the Finance sector, and can very often be crucial. For example, it is very often illegal to take pictures where there are customer records and account details visible; with MDM, companies can automatically disable the use of cameras on smartphones and tablets in the office.
Certain files on employees’ smart phones and tablets can also be accessed in the office building, and with the MDM Geo-Fencing feature, employees do not have access to these files outside the office; very often such files cannot leave the building due to compliance and legal reasons.
Leading organisations such as Virgin Money have realised the benefits of flexible working, and are now willing to match existing flexible arrangements for potential employees, ensuring they attract the skills that will take their business forward.
As the leaner cost of using remote workers becomes more attractive, there can sometimes be management blind-spots. Within finance efficiency is key. It is therefore vital that recruitment staff are proactively engaging employers, and potential employees, to meet their objectives.
At Curavar we offer Business Intelligence Dashboards which display vital details on a team’s activity to ensure business managers always remain in control.
The dashboard details how many calls were made, and to whom. It offers analysis of when VDIs are switched on and when they are proactively used. Scalability and flexibility for hardware and software provides complete understanding of how long certain applications are being used for, no matter how large the team. This enables department heads to manage the activity of every member of their team, and cultivate the skill set to maximum benefit.
As the skill pool for any position widens, it is up to the entire organisation to ensure they can engage with their target audience, wherever they are located. The VDI provides that solution.
A rise in “remote interviewing” has meant organisations can use recruitment filming and audio recording software to fulfil their human resource requirements across the globe. Such cloud based platforms offer the perfect opportunity to deliver that ‘anytime, anywhere’ experience and attract the right candidates.
A secure platform such as a Service PaaS can also eradicate the risk of data loss to competitors, which is of rising concern within the field of financial recruitment. Increased levels of protection, with superior items such as multiple firewall protection, combat the risk of industrial espionage which can lead to massive gaps in the capabilities of recruitment staff.
With no local server, Curavar’s Virtual Desktop Infrastructure removes the opportunity for individuals to use memory sticks to extract competitive company information, remotely disabling the use of USBs on devices. This improved system maintenance ensures up to the minute functionality to keep all data safe.
In a financial organisation that has a reputation for investing in people, the skills shortage soon becomes a thing of the past.