News: Performance Management
Insurance sector to 'seize' training initiative
10 June 2008
Bosses in London's insurance sector are to "seize the initiative" by investing in training for employees.
In a bid to stem looming skills shortages, officials compiled a report entitled London Market Skills Review which instigated the drive.
"Wholesale insurance is a relationships business," David Gittings, London market sector advisory group chairman and chief executive of the Lloyd's Market Association, explained to DOF Online.
"Training has tended to be rather informal, and the industry now needs to invest further in its people," he added.
Based on high-level interviews with senior employers, the report suggested that industry and professional bodies share "a sense of urgency" about training, development and performance management.
"Talent is one of our industry's top priorities, and we are seizing the initiative," concluded Mr Gittings, pointing out that leadership development programmes will be among the training provisions sought.
At a retail conference attended by skills minister David Lammy last week, UK managers were told that training and performance management should come into "even sharper focus" during uncertain economic periods.
