The role of management development in change management: The example of financial markets

Abstract

Financial markets are a great example of how growth in knowledge work is changing thinking about talent management. Most companies within the financial industry know that their employees are an important competitive advantage, but few have developed concrete practices and leadership commitment is often not aligned with strategic talent management. Is it really a question of lack of time and resources? Or is it because many managers lack a knowledge of human capital management best practices? How is it possible to manage individuals who constantly seek challenges and competition with other employees? How can financial institutions motivate and retain talent? The objective of this paper is to better understand the impact of the financial crisis on organizations and their employees within the financial industry, with a focus on front-office managers and operators working in trading rooms.