Is your broker training regime up to scratch?

Don’t think it’s your responsibility to keep your staff’s skills up-to-date? Think again.

Don’t think it’s your responsibility to keep your staff’s skills up-to-date? Think again.

An overwhelming 84% of Australians say their employers are making higher demands on their skills than five years ago, according to the latest Randstad Workmonitor survey, and employees don’t believe it’s their duty to keep their skills up-to-date. That task belongs to the company, say 89% of Australians.

Moreover, two thirds believe their job requirements have changed significantly since five years ago, and 21% say they are not responsible for improving their skills to meet employer demands.

Steve Shepherd, Group Director of Randstad, says that investing in employee training is crucial, not just for businesses, but for the wider Australian economy.

“If Australia is going to maintain its position as one of the most successful economies in the region, it’s important that businesses and employees alike place a premium on developing skills,” he says, pointing to the more collaborative approach taken in the wider APAC region.

In Malaysia, for example, 94% of workers believe they share responsibility with their employer to improve their professional skills, as do 93% of Hong Kong employees and 89% of Singaporeans. 

“This needs to be done at all levels of an organisation, to keep local businesses at the forefront of global industries. As an industry professional, developing strong skillsets will help you stand out from others in your field.”

Shepherd believes that rather than one side taking responsibility for the updating employee skills, the job should be evenly split.

“Ultimately, the responsibility rests with both the individual and the employer. All businesses need to actively invest in training and up-skilling their employees, and Australians should feel more encouraged to seek out opportunities to do so from their employer,” says Shepherd.

Meanwhile, two skills in particular have emerged which employees say have become more vital over the past five years. Eighty-seven per cent of workers nominated digital skills, while 67% opted for social skills, as being of greater importance to employers.

Workers should especially focus on both these skills and a variety of others, in order to appeal to future employers, says Shepherd.

“People are expected to be far more versatile and knowledgeable in a range of areas than in previous generations. The trick for people is to identify areas where they haven’t had previous training, and skills which are important in their industry or business in the years ahead,” he says.

“Businesses should also welcome the opportunity to develop their workforce in a range of areas, to harness their passions and interests. Finding areas which are useful to both the organisation and the employee is often the key to future growth and higher performance and productivity.”

Whose responsibility is it to keep broker skills up-to-date? Have your say below.