5 ways to be a leader in the finance industry

The Australian finance industry is worth an estimated $839 billion to the economy. In 2018, there were over 800,000 people employed in Financial Services roles, accounting for over 6% of employment across the Australian economy

If you love working with numbers in Australia, then you have a lot of competition. If you want to be a leader you need to stand out and here are 5 ways to help you do that.

  1. Write a blog

Writing a blog that shares your unique voice or vision is a great way to showcase your skills and expertise to potential employers. It shows you are proactive and knowledgeable and enables you to share your unique voice.

Whilst we understand that not everyone enjoys or is good at writing, you can get help to produce a quality blog. If that sounds like you then you can provide some key points and get a VA or blog writer to help you with writing the final version.

Here is some inspiration for the 10 top finance blogs in Australia to get you thinking

  1. Be visible

As a finance professional, if you want to be seen as a leader, you need to be in the spotlight. To do this you need regular visibility. Put simply, you want eyeballs on you! People that notice what you are doing, what you are about, your expertise and what you excel at. The more people who know your name and see you as an expert at what you do, the more you will be seen as a leader. Perception is everything!

If you are active on LinkedIn and relevant social channels, you are more visible. This includes sharing your own content, commenting on industry news or trends, contributing to conversations in groups and those occurring online and actively sharing your voice to help others.  

  1. Mentor new starters in the industry

Remember what is was like starting out in your career? It can be a little scary at times and often you didn’t know which road to take when it came to career opportunities.

As a career professional you can help others that are just starting out and pass on the knowledge you have that can help pave the way for a younger generation. Start by finding a mentor program in your business circle, suggesting your company starts one of its own or look for industry mentor programs that might be available.

There is a lot of personal satisfaction in mentoring and helping others. You might even find a potential new employee.

Here is one by CPA   

  1. Complete Financial courses & workshops for continued learning

Rules & regulations are often changing so staying up to date and learning new skills is essential and it will put you at the top of the list for potential career opportunities. Employers look for people who are proactive, want to learn and are not afraid of new challenges.

Short courses, workshops, reading blogs, attending industry conferences and events and formal education allow you to stay relevant.

We have so much access to information in our digital age that learning should be simple. Reading a new blog or industry article a day, puts you well above your competition.

                5. Get connected

Business and career are often about relationships and being connected. The old adage of it’s not what you know but who you know rings true.

It is estimated that approx. 70% of jobs still don’t get advertised as they filled before they need to advertise the role. It’s always better to be head-hunted than having to compete for a role along with 100 other people.

Spending time regularly connecting and building relationships online and offline means you expand your network, build your profile and are better connected in general.  Also, consider connecting with well-known recruiters and headhunters and build a relationship with them. Our team here at AFL Recruitment are privy to roles that have never been promoted so if you are connected to us, then you have a much stronger chance of landing that dream job because we know you.

Leadership requires you putting yourself out there, meeting new people, being visible and not being afraid of being in the spotlight. You can put your own unique style and personality to how you present yourself and consider doing 1 small thing each day to make your standout.

If you would like help to stand out, improve your profile or just to talk about potential opportunities, you’re welcome to contact me for a confidential discussion.

[email protected]

It is not always about ‘Showing me the money’

Money makes the world go around. Fact! But as human beings we need more than money to sustain us, particularly when it comes to our job and our working environment. So, if you don’t have large budgets to buy the best staff you need to look for other incentives to get them on board. Examples of non-monetary compensation include flex-time, time off, free or discounted parking, gym membership discounts, professional development, tuition for further education and childcare.

How can you win top talent without ‘showing them the money?’

Find out what drives them

What non-monetary incentives would appeal to them? We all need money to put a shelter over our heads and food in our plate, however there are often other benefits that can make up for a lower salary. If you can find out what drives a potential new team member you’d be surprised how creative you can get when it comes to ways to get them across the line. The better you know them the easier this process will be.

Be flexible

Don’t just stick with “this is the way we have always done it”. As the war on talent heats up you need to be flexible. This will be different for everyone but could include ability to work from home some days, time in lieu, roster days off, professional development, working a 4 day week etc. Don’t lose a great new asset because you cannot be flexible.

Offer personal development

Provide in house training, the ability to do additional study to get more accreditation and allocate personal development budgets each year that they can allocate to further learning outside the company are incentives that not only have a positive impact for you while the person is employed with you, but also for their career as they acquire new skills.

Personalised incentives

Everyone is different and what appeals to one person will not appeal to another. Personalise non-monetary rewards accordingly. The gym junkie would likely love a gym membership but the coach potato would hate it and prefer a membership to a theatre company. Do what works for each individual.

Passion project time

Offer time out of normal work commitments to work on projects which your staff may be passionate about but are not necessarily related to your core business. This is was pioneered by Google and also something that Facebook do and has launched some successful & very profitable new products. Allocating a few hours a week for them to work on a passion project helps keep them more fulfilled and likely to stay with you longer.

Volunteer program

How are you giving back to society? Offering staff 1 day every 3-6 months to volunteer at the charity of their choice, puts your brand directly into the community in a positive way, engages the individual with something they are passionate about, increases morale and builds a positive company culture.

Opportunities to work interstate or overseas office

If you have interstate or overseas offices the opportunity to work in another location, can be very appealing and a positive program you can put in place that is a big point of difference over competitors.

Having small hiring budgets forces you to get creative but is also means you win top talent for exactly that reason. Plus, non-monetary or intangible benefits can often be the most powerful.