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New TalentQuest White Paper Details Key Personality Traits, Competencies of Effective Performers
Greater talent pool provides unique opportunity for financial institutions to develop "all-star" teams during sluggish economy.
ATLANTA, 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 to download online. 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 identifyied consistent trends within the financial services sector.
"Growth came so quickly that many financial institutions filled positions without standardizing job descriptions, 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."
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