The financial field has become increasingly complex, driven in part by computer technology. Financial analysis has become much more elaborate and extensive. Firms are offering many new financial products and services.
In this type of environment, companies will need people with more sophisticated analytical skills, as well as the so-called soft skills, those involving communication, interpersonal skills, leadership, and adaptability. Here are a few of the most important skills companies will need to look for.
Hiring Trends for the Financial Field: The Skills to Look For
1. An understanding of current technologies
Technology now pervades all aspects of our lives – at work and outside of it. Even if you are not an IT professional, you need to be versed in the digital environment. This is especially true for those in the financial sector. Digital technology is moving into this area in a big way. Financial services companies are making big investments in artificial intelligence, machine learning and big data. Any new finance hires should be knowledgeable in these areas.
2. Communication skills
Good communication skills are essential in any profession, but especially in the financial field. Collaboration among workers is necessary now more than ever, and so being able to express ideas and opinions effectively, especially in a field as complex as finance, is crucial. Having good verbal and written communication skills is important, as is the ability to listen.
3. Critical thinking
As technology advances and the pace of change continues to accelerate, companies need to find people who have higher order thinking skills to be successful in this environment. These are skills such as problem solving, critical thinking, decision making, and innovating.
With the need to develop new products and services and new ways of working, these skills are needed more than ever. In this digital environment, it is not enough to have knowledge. People need to know how to use that knowledge, to apply it to create and innovate.
4. Continual learning
The financial services field is continually changing and evolving, and so those working in it must do the same. That is why it is important to hire people who realize the importance of continually learning, constantly acquiring new knowledge and upgrading their skills. These people realize that learning is a lifelong activity.
As workplace conditions change so quickly, skills become obsolete quickly as well, so people need to continually be learning new ones. Within the next five years, about two-fifths of the workforce will need to acquire new skills in order to do their jobs, according to the World Economic Forum.
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