November 9, 2021

The Importance of Training in an FX Business

AFEP encourage all members to ensure their staff are well trained, to ensure not only regulatory obligations are met, but also client needs are front and centre of a business. FX expert Brad Silver has some interesting and practical pointers to ensure training is effective, read on....

Effective Training, we always remember our greatest teachers and also our worse, moreover when we are taught well we invariably do well in the exams that follow,  this maps onto business performance. So let's be great trainers and to that end I wanted to offer a short article on how to deliver effective training.

I will go as far as saying why hire staff and not add value or give them the knowledge or skills they require to deliver over target results? Added to which for your successful staff how much more could they do if they had enhanced skills ?

This is not an induction for a few days or a week or one training session a week but rather a focussed concerted effort on a continual basis for everyone at every level.

After all if you get the team performing you create loyalty and longevity with your staff and exceptional performance.

So how do you deliver new ideas or skills that will add real value ?

Try using a training cycle

Explain  , Example , Exercise , Feedback

  • Explain the situation you want to discuss
  • Give a working Example
  • Give an exercise for the class to do
  • Give feedback and correct what is being discussed

However before you do this set up the session

  • Create the time
  • Set the space
  • If you need any content prepare it beforehand
  • Make sure mobile phones and any other distractions are taken care of
  • Ensure everyone knows it’s a safe space here you expect individuals to join in and on occasion get things wrong as they try to explore new ideas
  • If someone is struggling be empathetic and compassionate
  • Use laughter and learning, its infectious
  • Be patient
  • Get people to write things down in a training book , it allows for a deeper level of sticky learning
  • Recognise how each person on boards knowledge and accommodate this through your deliver
  • Have some fun
  • Keep to the agenda / point and make the session punchy otherwise you will lose the room

If you use the above model people will learn and feel inspired ,  the hidden deliverables are Confidence , Competence and Motivation ,  lets train our staff well and watch the results roll in.