Growth came so quickly that many financial institutions filled positions without standardized job descriptions without benchmarking job standards and expectations and without agreement on the most critical roles
Atlanta (PRWEB) July 14, 2008
Collaborative, detail-oriented, conservative and fearless are the most desirable personality traits among peak performers in the financial services industry, according to a new white paper from TalentQuest, a human capital management firm that blends the art of consulting with the science of technology.
The paper, “Talent Management in the Financial Services Industry: Best Practices for Making the Most of a Sluggish Economy,” is now available at http://www.talentquest.com/TalentQuest/www/9-0-Thought_Leadership_Download.html. Despite layoffs and reduced hiring, the current crisis presents an opportunity for selective hiring from a greater talent pool, according to the company, as well as more efficient employee development.
The paper also asserts that while virtually every strategy can be duplicated, a key differentiator remains the caliber and ability of a highly effective and collaborative team. Describing the talents, roles and behaviors of top performers in those roles is essential for future success. TalentQuest’s findings are based on 35 years of consulting with clients of all sizes, and identifying consistent trends within the financial services sector.
“Growth came so quickly that many financial institutions filled positions without standardized job descriptions without benchmarking job standards and expectations and without agreement on the most critical roles,” said Kevin Sessions, senior vice president, sales and marketing. “By identifying the peak performers in each position, and using assessments based on their inherent qualities, financial institutions get a better sense of who is the best person for each role, and are able to predict candidates’ likelihood of success.”
Standardized job descriptions for the financial services sector provide several benefits. They provide hiring managers with tangible guidelines, establish expectations for accountability and responsibilities for performance reviews, and educate employees about the responsibilities of other positions for career-path planning.
Beyond job descriptions, competencies and competency models are valuable talent management tools. More information is detailed in “Talent Management in the Financial Services Industry: Best Practices for Making the Most of a Sluggish Economy,” at http://www.talentquest.com/TalentQuest/www/9-0-Thought_Leadership_Download.html.
TalentQuest has been strengthening organizational performance and advancing leadership for more than 35 years by blending consulting with technology. The company’s consultants and organizational psychologists deliver fully-integrated human capital management consulting and talent management solutions that span the entire employee lifecycle—from talent selection to leadership succession—enabling organizations to maximize the value of their investment in people. The company provides strategy alignment, assessment and selection, management and talent development at every level to enable clients to increase profitability and competitive positioning, and achieve peak performance.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company