70% of Financial Services Executives See Graduate Desk Readiness as Critical Challenge

A new report reveals that 81% of executives view personalized learning paths as the most critical transformation in the learning and development (L&D) space over the next five years. This statistic is based on a survey of 260 L&D and HR leaders in financial services and was conducted by Wall Street Prep.

According to the report, 70% of the respondents identified gaps in desk readiness as the top priority to address in their 2024 training plans, while 65% highlighted the importance of improving soft skills. The survey, conducted between December 2023 and January 2024, gathered responses from HR and L&D executives working in financial services for global banks, boutiques, private equity firms, and other institutions across the globe.

Commenting on the findings of the survey, Alex Gorbansky, Managing Director of Corporate Training at Wall Street Prep, noted that even with significant investments in training programs, many juniors often show up at their desk on Day 1 unprepared, requiring significant assistance to be productive. He emphasized the need for L&D to rethink their training strategies to deliver skill-based programs that prepare analysts for the desk as efficiently as possible.

Looking to the future, the report highlights a growing shift towards personalized learning paths, with 81% of executives seeing this as the most transformative trend in the L&D space over the next five years. AI is expected to play a crucial role in personalization, with 43% of survey participants taking AI and ChatGPT seriously as they develop training strategies for 2024.

Moreover, the report highlights the significance of diversity, equity, and inclusion (DEI) efforts, with 68% of respondents stating that they have launched formal training programs to recruit and support candidates from diverse backgrounds. Additionally, more than three-quarters of firms aim to convert the majority of interns to their full-time graduate programs.

Despite the increasing emphasis on skill development, the survey highlighted that 70% of executives face budget pressures, with half of them pointing to limited budgets as the biggest obstacle to effective training programs. This highlights the need for more cost-effective training solutions.

Written by Wall Street Prep, a leading provider of training solutions to financial institutions, the report reflects the insights gathered from a wide array of professionals working in financial services. The results offer valuable insights into the challenges and opportunities faced by L&D and HR leaders in their efforts to address skill gaps and equip professionals for success in the evolving workplace.

To access the full report, you can visit their website at https://www.wallstreetprep.com/access/2024-finance-ld-insights/.

For media inquiries, Wall Street Prep’s Marketing Manager, Danielle Seropian, can be reached at dseropian@wallstreetprep.com.

Source: Wall Street Prep

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