Nexus Financial Service Pty Ltd

Question: Discuss about the Nexus Financial Service Pty Ltd. Answer: Introduction: The concept of learning and development (LD) is a part of human resource management of any organization (Pollock, Wick and Jefferson 2015). In our module, we have a topic of the concept of learning and development. The two terms means the way in which any company tries to improve the existing skills and techniques used by its workers in the course of their operation. The improvement takes place by providing necessary training, organizing workshops and evaluating the employees on their performance after the workshop (Klob 2014). In this essay, I have taken up the organization named Nexus Financial Service Pty Ltd to understand the way in which they implement the theory of LD in their framework. In addition, the need for using the tools of LD in order to thrive and excel in the business has been studied through this essay. According to the theory of Learning Development, any organization or company tries to hone the skills of its employers. The development of skill can be done through the method of learning and educating the employers (Purce 2014). Since business in global market is a dynamic concept, there is need to continuously up-grade one-self and remain at par with the global economy. The chosen company is well established in its domain. Hence, I have chosen this company to analyze the existing scope of research and learning within the periphery of this company and the way in which it uses the same to develop and expand its market. Our group, which is dealing with this LD theory, has people from different cultures with their own values and beliefs (Mondy and Martocchio 2016). This is beneficial as every one of them has different perspective of looking into the matter, which is influenced by their own culture. This is going to give a global view to the chosen topic. The chosen company Nexus Financial Service is a part of the NEXUS Group and was founded in the year 2006. Mahmoud Nodjoumi founded this company after buying the famous Zurich International Life, which was in operation since 1989 (www.nexusadvice.com 2016). The Nexus Group at present is the largest financial group operating in Singapore and has its extend throughout the entire area of Gulf Cooperation Council. The company caters to both corporate as well as individual clients with their product portfolio in the domain of savings, insurance and investment. At present, the group has more than 550 consultants and more than 160 organizations that provide training and support to all the employees of the company worldwide (www.nexusadvice.com 2016). Dealing with the schemes of investment and insurance requires a special skill of human motivation of manipulation. Since, no individual thinks alike, no companies takes up insurances or invests in any plan for the same reason, hence the group ne eds to cater to its clients according to their individualistic needs. This is the sole reason for which I chose this company. Each company uses different techniques and methods of implementing the LD within their organization in accordance type of work that they do. The company, which I have chosen, requires adopting few simple techniques in order to excel in their already existing Learning and Development schemes of the organization (Alvesson and Sveningsson 2015). The rules, which according to me can help the organization in further success, are discussed here on. Firstly, the employers should be provided with regular training whereby they should be notified about the client base of the company. Since, the job role of the company requires direct interaction with the clients in order to sell their products hence, a firm understanding about the client is required for the success of the company. The employees should possess detailed knowledge about their client base so that they can formulate their method of operation accordingly. Secondly, I would suggest that the company should provide special training to its new employees whereby they gets information about the crux of the business operation carried on by the Nexus Financial Service Pty Ltd. Along with knowing the crux of the business they should also be informed about the allied business carried on by the company. In addition, the company is advised to keep on updating its old employees of the changes in the existing business portfolio. Thirdly, the stakeholder forms an essential part of the organization. Without them, the organization could not survive. Hence, the groups of stakeholder should be clearly informed about the vision of the company. It should be the duty of the employees to convey this concept to them. Through a proper workshop of LD held by the human resource team of Nexus, this concept should be made clear to the employees (Hogan and Coote 2014). Fourthly, the organization is expected to follow the Insular strategy so that care is given to each individual department within the organization. People of each department should get access to the training so that they can yield the maximum profit on behalf of the company. Finally, the most important thing that can be advised as a part of LD is to keep on updating their course of training to remain in tune with the globally adopted strategies and save the organization from being backlogged in business (Mathis et al. 2016). This essay can be wrapped up by stating the findings about Nexus Financial Service. According to my observation, Nexus has been successful in business since long back when it was under the Zurich International Life. Even at present, it is the leading financial advisor in many countries and this is not possible unless it has exhaustively conducted research on the market. It has been found that the company has been using the latest technologies and pays attention in upgrading their system. The LD scheme managed by their HR department has played a crucial role in maintaining the goodwill of the company in International market. It has successfully created a flexible environment whereby all the employees and the clients remained well informed and happy about the service provided and received. I would like to conclude by stating that with more investment in the LD sector and continuous evaluation of the companys performance based on ROI of the company, it has chance to remain amongst the t op-notch companies providing financial services. References: Alvesson, M. and Sveningsson, S., 2015. Changing organizational culture: Cultural change work in progress. Routledge. Hogan, S.J. and Coote, L.V., 2014. Organizational culture, innovation, and performance: A test of Schein's model. Journal of Business Research, 67(8), pp.1609-1621. Kolb, D.A., 2014. Experiential learning: Experience as the source of learning and development. FT press. Mathis, R.L., Jackson, J.H., Valentine, S.R. and Meglich, P., 2016.Human resource management. Nelson Education. Mondy, R. and Martocchio, J.J., 2016. Human resource management.Human Resource Management, Global Edition. Nexus. (2016). Home - Nexus Insurance Brokers. [online] Available at: https://www.nexusadvice.com/ [Accessed 15 Jan. 2017]. Pollock, R.V., Wick, C.W. and Jefferson, A., 2015.The six disciplines of breakthrough learning: How to turn training and development into business results. John Wiley Sons. Purce, J., 2014. The impact of corporate strategy on human resource management. 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