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I am here to stay! The stockbroking way (an Indian perspective): part 2

I am here to stay! The stockbroking way (an Indian perspective): part 2 Purpose – Since the financial services industry has reached a level of maturity in terms of products and quality of delivery of services and the advent of foreign players, there has been virtual war for talent among the premier stockbroking companies in India and it is observed that the need of the hour is to ensure long‐term association of the employees with the company. It is necessary to understand how best one can integrate the aspirations of the employees in this industry with the mission and goals of the organization. Design/methodology/approach – This paper presents the modern trends involved in changing office dynamics and people associated with it, growing Intellectuality and aspirations, the changing face of the stockbroking industry and how the job of a stockbroker has been adding value to business. This paper provides an overview of the environmental factors, workplace factors and trade factors and the intensity of their influence on various functions of stockbroking. Findings – The stockbroking firms require professionals of different cadre: dealers, research analysts, business development executives, operation executives, executives associated with surveillance and risk management. This paper analyses the nature of the job of these professionals, the soft skills and hard skills the job demands on the part of the doer. Employee engagement may not be easy unless one promotes among one's employees a clear understanding about the interdependence of the various functions of stockbroking – operations, dealing, research trends, business development and surveillance and risk management processes. In the process, it indicates how the players in the stockbroking industry need to gear up to ensure a hassle‐less flow of the business. Originality/value – The paper concludes with a discussion on “biting the bullet before it pricks” and strategies the stockbroking companies need to follow for ensuring long‐term association with their employees. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Industrial and Commercial Training Emerald Publishing

I am here to stay! The stockbroking way (an Indian perspective): part 2

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
0019-7858
DOI
10.1108/00197851111160522
Publisher site
See Article on Publisher Site

Abstract

Purpose – Since the financial services industry has reached a level of maturity in terms of products and quality of delivery of services and the advent of foreign players, there has been virtual war for talent among the premier stockbroking companies in India and it is observed that the need of the hour is to ensure long‐term association of the employees with the company. It is necessary to understand how best one can integrate the aspirations of the employees in this industry with the mission and goals of the organization. Design/methodology/approach – This paper presents the modern trends involved in changing office dynamics and people associated with it, growing Intellectuality and aspirations, the changing face of the stockbroking industry and how the job of a stockbroker has been adding value to business. This paper provides an overview of the environmental factors, workplace factors and trade factors and the intensity of their influence on various functions of stockbroking. Findings – The stockbroking firms require professionals of different cadre: dealers, research analysts, business development executives, operation executives, executives associated with surveillance and risk management. This paper analyses the nature of the job of these professionals, the soft skills and hard skills the job demands on the part of the doer. Employee engagement may not be easy unless one promotes among one's employees a clear understanding about the interdependence of the various functions of stockbroking – operations, dealing, research trends, business development and surveillance and risk management processes. In the process, it indicates how the players in the stockbroking industry need to gear up to ensure a hassle‐less flow of the business. Originality/value – The paper concludes with a discussion on “biting the bullet before it pricks” and strategies the stockbroking companies need to follow for ensuring long‐term association with their employees.

Journal

Industrial and Commercial TrainingEmerald Publishing

Published: Sep 6, 2011

Keywords: Human resource management; Stock markets; Financial services; Practices in Indian financial services; Careers in stockbroking; India

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