Qualification and professionalism of employees play a key role in attracting and retaining clients, building the reputation of a financial institution and increasing its profitability. Having competent and suitable personnel for respective tasks is a key factor in the success of any business.

In view of decreasing margins and with a view of optimizing costs, financial institutions tend to save on staff and staff training. Reducing staff costs can achieve a short-term effect in terms of cost saving. However, in the medium to long term  revenue generation may fall short of expectations precisely because the competence level of staff is insufficient.

This article will tell you why it is important to invest in staff and how the approach to staff training and training costs can be optimized to ensure staff qualification and skills levels sufficient for the achievement of planned business results.