Financial services leaders better regarded
If you’re working in the financial services industry then chances are you hold your boss in higher esteem than your counterparts working in other sectors.
That is the bottom line of new research released by global human resources consulting and outsourcing business AON Hewitt, which found that only 51 per cent of employees in Australia and New Zealand believe their leaders are effective.
This figure improves in the financial services sector where 54 per cent of employees believe their leaders are effective, but declines markedly in the resources sector where just 41 per cent of respondents said they trust their senior leaders and believe them to be effective in their roles.
Commenting on the survey results, AON Hewitt chief executive of human capital consulting for South East Asia and the Pacific, Tim Powell, described the outcome as disturbing even within the highest ranked industries.
“Hopefully this is the wake-up call companies need to assess and more importantly improve their leadership strategy,” he said.
Powell said that at a time when many people were being promoted on the basis of past achievements and technical competencies rather than managerial capabilities it was not surprising that the resources sector was struggling due to the highly technical nature of roles.
He said when those factors were combined with the current volatility in the industry and the fact that most teams were geographically dispersed, the challenges ahead became much clearer.
AUTHOR
Mike Taylor
Recommended for you
As ASIC looks to publish firm-level data on the internal dispute resolution regime, a compliance professional has warned it could have unintended consequences, such as under-reporting.
Selfwealth’s acquirer, Syfe Group, has said the firm is hopeful of opportunities from the mass affluent population as it believes a gap exists between DIY brokerage and financial advisers.
Rose Partners, which has a strategic partnership with AZ NGA, has purchased an advisory and accounting business based in Queensland to drive its expansion.
Having already completed three major sales, Iress has announced its latest divestment following a strategic review conducted during its transformation program.
