Barclays
Barclays
Barclays is a UK-based financial services group engaged primarily in retail banking, investment banking and investment management, operating in over 60 countries worldwide. In terms of assets employed, it is one of the largest financial services groups in the UK and one of the leading providers of financial services to consumers, businesses and financial institutions. The Group offers co-ordinated global services to multi-national corporations and financial institutions in the world’s main financial centres.
“Finance in Barclays is at the heart of driving business performance and we recognise the importance of continuing to develop our expertise, building world class industry leading capabilities which support the business now and into the future. With the definition of ‘world class’ continually tightening, our focus on CPD is becoming a key part of our people development strategy,” explains Colin Walkin, director, group finance.
All Barclays staff are encouraged to take responsibility for their professional development and have access to the Barclays University, which brings together a wealth of learning tools, including videos, CD-ROMS, books and courses as well as career advice and support. “This is a fantastic facility at the forefront of learning and development in the financial services industry,” says Jill Robinson, head of organisational fitness in finance. “Up until now, however, we have not specifically targeted learning for finance professionals but, working in partnership with the Learning and Resource team, we are creating the Finance Academy. This addresses the specific development needs of people in finance and focuses on the skill areas which will make a difference to us in the future.”
Of the 1,200-strong Barclays finance function, the majority are ACCA, CIMA or ICAEW qualified, and are employed in a variety of roles supporting very different businesses within the Group. “This makes finding a tailored ‘one-size-fits-all’ approach to training and CPD is very difficult,” says Jill. “Developing partnership programmes with the various professional bodies is an exciting step forward to providing CPD support for our finance people.”
The team at Barclays is looking at how CPD can be integrated into the company’s Performance Development toolkit and at the support a partnership programme can provide. It is currently working with ACCA to provide CPD opportunities which will meet the new CPD requirements being introduced in 2005.
Partnerships which encourage professional development within financial services are seen as an important part of the learning strategy within finance in Barclays. “We welcome the approach that ACCA is taking and look forward to building on the current standard Gold accreditation we have in our finance Reporting Service Centre for managing and developing people,” says Jill.
Feedback from ACCA
Barclays demonstrates a positive approach to the training and development needs of its finance professionals and is recognised by ACCA as an ACCA Approved Employer - professional development.
Identifying training and development needs
Barclays acknowledges the challenges it faces in trying to identify and manage a range of training and development needs across a finance team that is dispersed through various businesses. It recognises that a “one-size-fits-all” approach to training isn’t practical or effective.
At present, Barclays has difficulty identifying whether the training opportunities provided meet individual employee’s specific needs. As part of its new CPD scheme, ACCA has developed a Personal Development Matrix (PDM) – an on-line tool which allows members to identify what training is relevant to their roles. As an ACCA Approved Employer - professional development, Barclays’ staff would have access to the PDM, complementing the learning opportunities it already offers.
Providing opportunities
Barclays implements a broad approach to achieve successful staff training and development. It recognises that everyone learns in different ways. To cater for individuals' learning preferences, the Barclays University brings together an impressive selection of learning tools which are available to all staff. External speakers are also invited to make lunchtime presentations, allowing staff to fit learning around busy schedules.
Reviewing the successful training and development
Progress is monitored and measured through telephone surveys and interviews which enables Barclays to target skills gaps and provides a firm foundation for planning training provision. This would meet ACCA’s requirement for principle three of the ACCA Approved Employer - professional development scheme.
Most importantly, Barclays recognises that continuous improvement and CPD are vital parts of its strategy, and is actively looking to harness individual performance and achieve overall business objectives.