Continuous development of competencies of financial company managers in the context of systemic career opportunities

Abstract

Executive training and development are an integral part of the success and effective functioning of a commercial financial company. Research shows that there is a relationship between the level of managerial competencies, investments in their development and the results of managers’ work. This article reflects the authors’ understanding of the systemic career opportunities of financial company managers: a learning culture, a feedback culture, the presence and functioning of a talent management system, a personalized approach to the development and training of employees, individual counseling in the format of mentoring or coaching. Based on the content analysis of the results of the previous world experience in research on the development and evaluation of managerial competencies, the use of descriptive statistics and correlation analysis methods in processing the results of a continuous assessment of the competencies of managers (n = 234), the top management of the company was offered recommendations to strengthen the management system for the continuous development of employees of the organization. The results show a high level of formation of managerial competencies of managers at various levels of a large financial company with more than 5,000 employees and a developed branch network, which is a predictor of high career growth within the organization or leaving it. The authors reveal the limitations of systemic career opportunities on the example of one financial company, which is a limitation of the study. At the same time, the results obtained may be of interest to researchers on the issues of constructing a system for assessing and developing the competencies of managers in various fields of activity.