TESTING, MEASUREMENT AND EVALUATION TECHNIQUES IN THE TRAINING OF FINANCIAL SERVICES SALES FORCES
| Date | 01 February 1994 |
| Pages | 119-124 |
| Published date | 01 February 1994 |
| DOI | https://doi.org/10.1108/eb024799 |
| Author | DAVID WICKS |
| Subject Matter | Accounting & finance |
TESTING, MEASUREMENT AND EVALUATION TECHNIQUES
IN THE TRAINING OF FINANCIAL SERVICES SALES FORCES
Received: 11th November, 1993
DAVID WICKS
DAVID WICKS
IS
A FELLOW OK THE CHARTERED INSURANCE
INSTITUTE, AND IS MANAGING DIRECTOR OF
FINANCE INDUSTRY TRAINING LIMITED. HE
HAS BEEN INVOLVED IN THE FINANCIAL
SERVICES INDUSTRY FOR OVER 20 YEARS, AND
HAS WORKED IN A WIDE RANGE OF
MARKETING, TRAINING AND TECHNICAL
ROLES.
HE HAS PUBLISHED ARTICLES IN MANY
TRADE JOURNALS, AND IS A FREQUENT
CONFERENCE SPEAKER, PARTICULARLY ON
TRAINING ISSUES.
ABSTRACT
This paper
considers
the role of
testing,
particularly in the training of financial
services
salespeople.
It
examines the
poten-
tial of
testing as
a positive
influence on
the
development
of
salespeople,
and
the
differ-
ent
requirements
of
knowledge
and skills
assessment.
The use of
data derived
from
testing, both in training and in recruit-
ment,
is also
considered.
Testing, measurement and evalua-
tion have always been a necessary
part of training, not just in financial
services, but in all Fields where
knowledge and its application are
important.
But training is a wider concept
than is often recognised. It is an
ongoing process of taking in infor-
mation and gradually becoming
expert in its application. In financial
services, and particularly as regards
the training of salespeople, there has
been a tendency to regard it as a
finite process involving a set number
of courses, which are attended and
concluded early in the individual's
career.
The need to widen the scope of
the training provided for salespeople
was a major driving force behind the
introduction of the training and
competence requirements of the Life
Assurance and Unit Trust Regula-
tory Organisation (Lautro), which
took effect in April 1993. The
detailed Training and Competence
Scheme Guidance issued by Lautro
is based on the principle that
'... the attainment of compe-
tence should be set within a pro-
cess involving an amalgam of
elements which include the
acquisition of knowledge and
skill, the opportunity to practice
and develop job requirements via
119
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