Personal development has to take a back seat for many middle managers due to lack of time.
Recent research by the Ashridge Business School showed that even though three-quarters of the professionals questioned worked for organisations which claimed to support such development, only 53% were given time to follow it through.
On-the-job training is cited as one of the most effective methods of developing staff, alongside in-house development programmes and coaching by line managers – perhaps reflecting the need to watch the bottom line more closely in the current economic climate.
Coaching, mentoring and sponsorship programmes could be part of the answer to the problem of the acute shortage of women in senior positions in banking.
Women in banking have lower expectations of career progression than their male colleagues, and sponsorship and mentoring could raise their confidence and their aspirations.