Where will the fund industry experts be found in the future?
Partner, Head of L&D
Funds need to live in every movement in the world, in search for the most ambitious and competitive companies. Internationally it is not exceptional that an archaeologist or sociologist works in the fund. But this is still quite exceptional in Finland.
At the beginning of March, we produced a webinar, “Secret Sauce to Success”. In the webinar we discussed the expertise needed in the fund sector.
Julianna Borsos, the founder of the Finnish private equity company Bocap Private Equity Oy, who was a guest at the webinar, raised an issue that is rarely considered in the financial debate - the expertise needed in funds. Borsos highlighted the way in which international venture capital firms pool multidisciplinary expertise, that is, staff from outside the traditional accounting and financial industries.
Internationally it is not at all exceptional that an archaeologist or sociologist works in the fund. But this is still quite exceptional in Finland.
In Finland most of the funds do not know how to take advantage of diversity. As we go further, I believe that multi-disciplinarity will increase in financial companies in Finland as well. At least it should.
Funds need to live in every movement in the world, in search of the most ambitious and competitive companies. Tracking trends and finding new ones requires knowledge of different industries and trends in addition to make economic calculations. Therefore, building multidisciplinary staff is a wisdom. Only a financial company that monitors all sectors will be able to operate in a competitive industry. In addition, the unfolding trend of responsibility has created a whole new set of investors. Making money is no longer the most important thing for everyone, but how to make money has become a priority. And what good money can produce.
Juho Pietilänaho, Partner and Head of CFO-services at Greenstep, says that responsibility nowadays becomes built into the mindset of modern business leaders. Those leaders serve the investors, which are primarily looking for a return on their investment rather than responsibility. However, it is likely that companies that take responsibility into account will be able to exceed the industry average returns in the long run.
Additionally, it should be obvious that the companies not meeting the ethical standards of the modern world will have a limited number of investors available.
As Borsos said in the webinar, the effects of employment, which were previously seen as secondary to companies, are now interesting from an investor perspective. Everyone wants to find those venture capital companies, that are able to produce more and more good. In order to produce it, the staff must be diverse and represent many different fields.
So how do we find the right people? Here are some webinar-inspired tips for finding the right talent:
- Walk where students from different fields come together
- Appear where different industries meet
- Attract staff from different educational backgrounds
- Remember the power brought to your organization by different age group
Greenstep's HR Services are tailored to your needs. We can support in creating multicultural organizations and ensure diversity in teams.
Please find out more here, our HR Services team is happy to help you.
Head of Greenstep Academy
Author is D.Sc. (Econ.), M.Sc. (Educ.), Researcher in Management and Leadership, and Chairman of the Board of Carestep Oy
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