Continuing professional development in a financial services organisation

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Continuing professional development in a financial services organisation


There are a number of powerful drivers for the introduction and maintenance of programmes related to continuing professional development (CPD). Spiralling rates of change in markets and market forces compounded by a statutory responsibility to the Personal Investment Authority (PIA) require considered strategic approaches. Providing CPD on the job is both time-consuming and costly. Not being able to evaluate and thereby formally to recognise the benefits of CPD activity is, therefore, problematic. In addition, there is a growing awareness by individuals, of the need to participate in CPD-related activity. These reasons include becoming more marketable, career development and enhancing standing in the workplace. This paper reviews an established CPD scheme and seeks to identify the problems and benefits of participation for the organisation and the individual.

At a business performance level it was found that CPD was able to support an improved, flexible response to changing business needs. Yet given its potential it does not appear as a formal part of the organisation’s strategic approach to business or people development. The conclusions are that because of the unstructured nature of CPD-related activities it is difficult to evaluate effectively and consequently is underappreciated within the organisation. Neither is attributing improvements in performance to CPD straightforward. Nevertheless, because participants perceive clear benefits it is highly valued.

The paper goes on to suggest that the mandatory approach adopted by the PIA is not necessarily in step with the needs of the organisations it seeks to serve in a strategic people management sense and that an integrated approach to CPD by employing organisations should be encouraged. The purpose would be to provide greater clarity of the beneficial outcomes accruing to the individual and organisation and thereby to encourage a greater commitment to voluntary participation.


Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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