Top 10 soft skills you need to work in finance

5 mins read
Soft Skills

about 3 years ago

​​When searching for a role in finance, it's often not what you know, but what you can offer. Job hunters have long been told to list, and give prominence to, technical skills on their CVs, but finance sector employers are increasingly looking for candidates with interpersonal abilities known as ‘soft skills'. Demonstrating these 10 characteristics will help candidates prove their value in the workplace.

​10 soft skills to help you prove your value in the workplace.

1. Communication

Earlier this year, analysis by LinkedIn showed that 57.9% of new hires who changed jobs in 2014-15 listed communication as one of their strong suits. Good communicators are in demand across a range of industries, and they're vital in fields that require employees to explain their specialist knowledge to others. An aptitude for number crunching won't get you far in finance if you can't justify and explain your calculations.

2. Negotiation

Whether you're closing a deal or managing expectations, it's important to know how to fight your corner without ruffling any feathers. An aptitude for negotiation will allow finance professionals to reach an agreement that benefits all parties. Failure to compromise effectively can create frustration and damage interpersonal relationships or, at worst, result in loss of revenue for a business. Having a demonstrable knack for negotiation will put you ahead in any financial enterprise.

3. Influencing

Finance professionals must be prepared to explain how their objectives are mutually beneficial and anticipate objections. If, for instance, an investment banker wants to sell off a stake in a joint venture, he or she must be able to show how this will benefit the bank – even if some colleagues disagree.

4. Critical thinking

A critical thinker objectively analyses or conceptualises a situation from a balanced perspective. Often, customers and clients will look to financial professionals to rationally evaluate a scenario – be it a ledger or the performance of a stock. In fast-paced business environments, a poorly thought-out decision can cost a company time and money. So the ability to make critically-informed choices is crucial for modern finance professionals.

5. Flexibility

Flexible employees are capable of weathering change and staying productive in high-pressure situations. Good stockbrokers provide the most dramatic example of this: their day-to-day work revolves around coping with constant fluctuation and determining the best course of action. However, cultivating a flexible mindset also means being able to see through the eyes of others and understand their motivations. A flexible finance professional will always ask: "Why might someone think this way?"

6. Resilience

Resilience refers to one's ability to bounce back after facing adversity. While this is an important skill in any workplace, it's especially important in high-pressure situations. Being able to cope with changing circumstances, having confidence in your ability to deliver and thinking carefully about what you're trying to achieve can prove valuable – particularly in financial roles.

7. Collaboration

It's no secret that top-level financiers are on the lookout for team players. A recent survey by Adaptive Insights showed that 70% of chief financial officers considered collaboration to be their top priority for 2016. In the financial sector, it has become increasingly common to work across multiple teams and geographies to achieve a shared goal. Someone who approaches group-working scenarios with an open mind and a willingness to listen will benefit any team.

8. Problem solving

Effective problem solvers identify the issue at hand, weigh up their options quickly and make a firm decision about the best course of action. Those who excel at problem solving can really drive an organisation forward and will earn the respect of their colleagues by offering meaningful input in even the toughest situations.

9. Dedication

Dedication is fierce commitment without the expectation of returns. Rather than becoming overwhelmed by a single task, dedicated workers will devote themselves from start to finish. Discipline, hard work and acceptance of delayed gratification are key ingredients in developing the dedication mindset.

10. Empathy

It's a common misconception that roles focused on data and numbers require a detached approach – empathy should never be undervalued in finance. Clients often seek financial advice during stressful life events, and dealing with someone who has suffered a loss requires a different approach from a couple seeking their first mortgage.

An empathetic person shows that he or she cares. In displaying understanding, finance professionals will also build trust in their relationships with co-workers and clients.

It's not enough to simply tell an employer you have the soft skills they're looking for. Instead, strive to demonstrate your skillset by offering up examples from previous job roles and highlighting talents you've developed outside of the workplace. Remember, employers are always seeking the right personality for the job – not just a list of positions and qualifications.

How to identify your own skills:

Reflect on your reactions to tense situations at work and compare them to those of managers and co-workers you admire.

Prepare answers to interview questions that screen for soft skills, such as those about workplace experience in problem solving and collaboration.

Ask current or past colleagues to evaluate your strengths and weaknesses. They may be able to offer insights you hadn't previously considered.

Consider your strengths in relation to the job you want to apply for so you can be confident about the criteria you already fulfil and areas that you can develop on the job.

How to acquire new skills:

  • Make a conscious effort to improve your soft skills every day – remember, they're attributes to develop, not innate qualities.

  • Take up skill-building hobbies in your leisure time. Something as simple as a cooking class might prepare you to prioritise tasks and work under pressure.

  • Ask for help and feedback from colleagues and senior staff in your workplace.

  • Enrol in a course designed to build soft skills, such as those offered by Reed.

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Coaching for intersectional inclusion
9 mins read
  1. Article

Coaching for intersectional inclusion

​​Everyone has multiple layers to their identity, and no one is one label. There are other aspects of their identities to consider, and no one should be put in a box. Many businesses, which celebrate Pride Month, for example, are perceived as not doing enough for people who are underrepresented in more than one way.

Recent research by Culture Amp in ‘The Workplace Diversity and Inclusion Report 2024’ found disabled women and black women are more doubtful of their employers’ equality, diversity, inclusion and belonging (EDI&B) efforts than any other group.

This is likely because women might feel their entire identity and additional barriers aren’t being considered, if they are part of more than one underrepresented group. Some employers’ initiatives provide a base-level overview of inclusion for women, but they might only explore the perspectives of white women, for example, or women in general, with no specific solutions explored for LGBTQ+, disabled or black women, for instance. Each may have very different experiences of what it means to be a woman.

Coaching people within your organisation can help leaders and employees gain a deeper understanding of intersectionality and why it’s important. We interviewed Mary-Clare Race, CEO of Talking Talent, for her insight and best-practice tips on all things coaching and inclusion.

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Q: What's the difference between coaching, mentoring, and other types of training, especially when it comes to equality, diversity, inclusion and belonging?

A: These terms are often used interchangeably in the world of talent development, but we see a clear distinction between them that is especially important when it comes to EDI&B.

In a training situation, the primary goal is typically to transfer knowledge from the facilitator to the participant, to raise their awareness and understanding of a particular topic or skill and provide them with practical tips on how to put that skill into action for themselves.

In a mentoring situation, there is also an element of knowledge transfer, but in a more personalised, relationship based, one-to-one situation where the mentee is paired up with a more experienced mentor who is there to provide them with support, advice and guidance.

Coaching takes the relationship-based approach one step further and focuses on supporting and facilitating the coachee to actively step in and facilitate their own outcomes. It is not about giving them the answer but rather supporting them to find their own answer, their own way forward.

At Talking Talent, we favour a coaching-led approach because it enables a deeper level of behavioural change. The coachee must be actively engaged and motivated to do the inner work on themselves and the coach is there to hold them to account. However, there is a role for all three approaches when it comes to solving EDI&B challenges and real power in combining all three.

Q: How can coaching help businesses become more inclusive and diverse?

A: If you look at what it takes to really move an organisation forward with their EDI&B strategy, we believe you've got to take a systemic approach and build inclusion into your culture and in how people behave every day.

There are several ways coaching can help with this:

Leadership behaviours: by working with a coach, leaders become more aware of their own biases, preferences and how their own identity shapes how they show up as a leader. The coach can help them develop the skills needed to foster a culture of inclusion and hold themselves and others accountable.

Developing talent: in many organisations there are pockets of talent who have been overlooked because of some aspect of their identity. Coaching-led programmes can support under-represented talent to thrive and overcome what may be holding them back so they can fulfil their true potential. And by offering coaching-led programmes that address the unique needs of underrepresented individuals, organisations demonstrate their commitment to supporting the needs of all their employees - thus driving retention and engagement levels up.

Improving culture: at the heart of culture change is the need to move behaviours forward at an organisational level. We believe coaching is the most powerful way to do this for an organisation - by helping individuals and groups develop the self-awareness, emotional intelligence and relational competency to work effectively in diverse teams and build inclusion into the culture.

Q: In your experience, why are diversity and inclusion initiatives so important to organisations and their talent attraction and retention?

A: In our industry, there's been significant backlash against EDI&B efforts, particularly in North America, and this sentiment seems to be growing globally. The issue often lies in viewing EDI&B initiatives as separate from core organisational culture. For me, EDI&B is about creating an environment where every individual, regardless of identity, can thrive and contribute fully. This isn't just about ticking boxes – it's critical for attracting and retaining talent, and crucial for overall business performance.

Ultimately, EDI&B isn't merely an add-on; it's integral to effective leadership and to building success at all levels of your organisation. It's about fostering authenticity, encouraging diverse perspectives, and empowering individuals to contribute their best work. These principles are essential for any business striving to maximise performance and leverage a diverse talent pool, regardless of their specific commitments or strategies. It's about creating a workplace culture where everyone can succeed and where the organisation benefits from the full potential of its people.

Q: Who should be coached in inclusion and diversity within an organisation? And why?

A: When considering who should be coached in inclusion and diversity within an organisation, it's crucial to view these efforts as integral to successful business practice. While not everyone needs individual coaching, it's essential to ensure all members of the organisation are engaged in the journey towards inclusivity.

For leadership teams, coaching can be particularly impactful in fostering a culture where inclusion is actively cultivated and practiced. Leaders can learn to demonstrate inclusive behaviours and set the tone for the entire organisation.

Additionally, focusing coaching efforts on groups that have historically faced barriers – such as women, marginalised ethnicities, or neurodivergent individuals – can be highly beneficial. By addressing systemic challenges these groups face, organisations can promote fairness and unlock their full potential.

Ultimately, the decision on who to coach should be informed by the organisation's current state and readiness for change. A tailored approach ensures that coaching initiatives align with strategic goals and create meaningful impact across the entire workforce.

Q: To what extent is intersectionality considered in your coaching and why is it important?

A: This is one of the reasons why coaching is so effective, because intersectionality is really about the need to recognise we are all more than a set of labels. We have a lot of different aspects of our identity that intersect. Our gender, race, age, sexuality, social background, neurodiversity etc. are all important elements to consider. And it's important to consider the unique experiences individuals have, particularly when they have one or more identities intersecting, and where there might have been barriers against people with those identities.

That's key in our coaching approach, because coaching allows you to meet the individual where they are. It's not so much that we are coaching people about intersectionality, but we're really considering the unique person that comes into the coaching experience.

And the risk of not doing that is you put people in a box, and it can be further disenfranchising for them because they're thinking, "Well, actually, I'm being given this opportunity as a woman, but it's not taking into account all of these other aspects of my identity that are intersecting with it and I am being required to leave that part behind."

By failing to consider intersectionality in a coaching situation you can, in fact, make the situation more difficult for the coachee.

Q: You’re teaching others to be inclusive, but how does your organisation ensure it's walking the walk, not just talking the talk?

A: It's something we're very passionate about obviously, we have our own DE&I council, which is chaired by myself as a CEO, in partnership with our Head of People, and HR.

We are actively looking at all aspects of our culture in terms of how we build inclusion, and how effective our leaders, policies and processes are. Do we feel that they're fair? Is there any way in which we're discriminating against certain groups? Whether that's in our recruitment processes or in how promotions happen or how opportunities are given within the business – and we make that very much a managerial responsibility.

We're also constantly looking at our own metrics and where we need to be rebalancing our employee profile. So, across all aspects of diversity, it's a big focus for us.

And we have a DE&I strategy and plan that we're working to with the support of a council which is made up of different members of our workforce.

Q: What advice would you give to those companies that maybe can't afford coaching services in EDI&B? What can they do themselves to make improvements?

A: For companies facing budget constraints and unable to invest in external coaching services for EDI&B, there are practical steps they can take to drive improvement internally.

Exploring alternative coaching methodologies can be effective; options like group coaching sessions or coaching circles, facilitated by peers, harness collective insights and promote shared learning.

Additionally, companies should leverage existing coaching resources and talent internally. Assess whether there are individuals within the organisation who possess coaching skills or can be trained in coaching as part of leadership development initiatives.

Talking Talent, for instance, has digital offerings that are coaching-led and digitally enabled, making them accessible and scalable for organisations looking to expand their impact globally.

By exploring these approaches, organisations can foster a culture of continuous improvement in inclusion and diversity without incurring significant external costs. These steps not only enhance organisational effectiveness but also contribute to a more inclusive workplace environment.

If you’re looking for a talented employee or a new opportunity, contact your nearest Reed office.

Graduate Technology CV Template
3 mins read
  1. Article

Graduate Technology CV Template

Before you start populating your CV - do you research. We've analysed over 600 data points from Google and the O*NET Skills Database to find out the key skills required to be successful in a host of technology roles. Explore the data now to upgrade your CV