The vast majority of executives in the financial services sector state that their tasks have become considerably more complex over the past five years. Surprisingly, however, a quarter of these executives have not received any further training to improve their work performance. This is according to a recent study by Alliance Manchester Business School (AMBS), one of the world's leading business schools. The study highlights the challenges faced by executives in a rapidly changing market environment.
Specifically, 85% of respondents indicated that their role has increased in complexity since 2020. This trend is due to a variety of factors, including advancing digitalisation, new regulatory requirements and increased volatility in global markets. The study underscores the need for companies to invest in the further development of their leaders to adequately meet these challenges.
Growing need for qualifications
The survey results signal a growing need for specific qualification measures. Although the complexity of tasks has increased, there is evidently a gap between the demands placed on executives and the support systems actually offered in the form of further training. In the long term, this could impair companies' performance and make it more difficult to adapt to new market conditions.
The AMBS study was conducted in an environment where the real estate market is increasingly influenced by developments in the financial sector. The ability of financial service providers to manage complex risks and offer innovative solutions is directly relevant to the dynamics and stability of the global real estate market. If executives are insufficiently prepared for the increased demands, this can have far-reaching implications for the financing, valuation and transaction of real estate investments.
Implications for the market
A lack of adequate further training for executives in the financial sector poses risks for the entire industry. The ability to respond to new technologies such as Artificial Intelligence or to changing customer needs requires continuous learning and the development of new skills. Companies that do not invest in this area could lose their competitiveness and jeopardise the trust of their customers and investors. A proactive approach to personnel development is therefore crucial for sustainable success in the financial services and, by extension, the real estate sectors.
