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I am here to stay! The stock broking way (an Indian perspective): part 1

Shankar Anappindi (Senior Manager – HR with the Karvy Group, Karvy Stockbroking Limited, Hyderabad, India)
M.S. Manohar (Vice President and Group Head – RR with the Karvy Group, Karvy Stockbroking Limited, Hyderabad, India)

Industrial and Commercial Training

ISSN: 0019-7858

Article publication date: 12 July 2011

Abstract

Purpose

Since the financial services industry in India has reached a level of maturity in terms of products and quality of delivery of services and the advent of foreign players, there has been a virtual war for talent among the premier stock broking companies in India and, it is observed that the need of the hour is to ensure a long‐term association of the employees with the company. The aims of this paper is to focus on how best one can integrate the aspirations of employees in this industry with the mission and goals of the organisation.

Design/methodology/approach

The paper presents the modern trends involved in changing office dynamics and the people associated with it, growing intellectuality and aspirations, the changing face of the stock broking industry and how the job of a stockbroker has been adding value to business. This paper provides an overview of the environmental factors, workplace factors and trade factors and the intensity of their influence on various functions of stock broking.

Findings

Stock broking firms require professionals of different cadres: dealers, research analysts, business development executives, operation executives, and executives associated with surveillance and risk management.

Originality/value

This paper analyses the nature of the job of these professionals, the soft skills and hard skills the job demands on the part of the doer. Employee engagement may not be easy unless one promotes among their employees a clear understanding about the interdependence of the various functions of stock broking – operations, dealing, research trends, business development and surveillance and risk management processes. In the process, it indicates how the players in the stock broking industry need to gear up to ensure a hassle‐less flow of the business. The paper concludes with a discussion on “biting the bullet before it pricks” and strategies that stock broking companies need to follow to ensure a long‐term association with their employees.

Keywords

Citation

Anappindi, S. and Manohar, M.S. (2011), "I am here to stay! The stock broking way (an Indian perspective): part 1", Industrial and Commercial Training, Vol. 43 No. 5, pp. 297-306. https://doi.org/10.1108/00197851111145899

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited