People play a critical role in delivering financial services, yet many companies do not invest enough time and resources to developing staff or human resources. This lack of training often leads to inefficiencies or failures that emphasize the need to prioritize human resources in the microfinance sector.
A committed, well-trained, and competent workforce is one of the keys to successful growth for financial service providers. A 2012 CGAP survey examined the supply and demand of capacity-building services for financial service providers and found that these institutions were struggling to keep up with constantly evolving ideas of financial inclusion and to find qualified, committed staff. Through effective hiring and active and ongoing human resource management, institutions can improve staff capacity and better equip themselves to deliver high-quality services to their customers.