Graduate training programmes in the banking sector will put the brightest young talent through their paces from the very beginning, ultimately preparing them for the various roles and responsibilities associated with their future roles.
It can be easy, however, for graduate training programmes to focus on areas that will not aid the development of prospective employees, which in turn can be a waste of time and money for business leaders.
Whether it’s in corporate, commercial, retail or any other sub-sector of banking, the need to ensure that graduates are both prepared and engaged within their new positions is crucial. Therefore, training programmes should be focused on specific key areas in order to secure a return on investment; these are:
- Communication skills
- Commercial awareness
- Leadership
Communication skills
Communication can be everything in the banking sector, both within the business and externally. Particularly for those entering client-facing roles, effective communication can be the difference in securing or losing repeat business.
Especially in the world of modern digital banking, where consumer expectations are continually growing, the right training programme needs to be adopted. According to a survey conducted by Accenture, 49% say a high-quality customer service drives loyalty in banking.
From an internal perspective, communication is key to ensuring continuity on an organisational scale, as the breakdown of crucial relationships among an entire hierarchy of employees can lead to the breakdown of operations and services.
To ensure that graduate training programmes are adequately developing the right communication skills, focus must be placed on allowing individuals to work collaboratively as part of a training course, as well as actively attempting typical client-facing scenarios, which in turn will serve to improve learning retention.
Commercial awareness
Commercial awareness is a developed understanding of specific business aims and objectives as well as knowledge of how a particular industry works. Possessing commercial awareness is incredibly beneficial for graduates in the banking sector as the industry is one of the most competitive markets in the world.
The demands that banking graduates are expected to face at every stage of their careers means that commercial awareness should be constant from day one.
Where graduate training programmes are concerned, they should be structured with a clear focus on how the business is run along with how it is embracing industry developments. For more information, read our blog summarising commercial awareness here.
Leadership development
While the typical graduate will not be expected to excel in the areas typically associated with banking leaders so early in their careers, structuring graduate training programmes to incorporate leadership development can be mutually beneficial for both employers and graduates.
For employers, incorporating leadership training for graduates will give them a clear indication of the individuals who are able to handle the added responsibility a leader would typically face. For employees, it gives them an opportunity to develop the skills they will need later on in their career.
Here at MDA Training, our graduate training programmes for the banking sector are designed to engage and motivate new hires. Utilising experiential learning methods, we are able to construct a course that will secure a return on investment. For more information, please click here.
While every banking business will look to prioritise specific areas related to long term goals and objectives as part of their graduate training programmes, there is no denying communication skills, commercial awareness and leadership development are all elements that will make a real impact on young employees.