Assess How the Management of Physical, Human and Technological Resources Can Improve the Performance of a Business

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Human Resources

The way we train human resources, in this case the sales team has a massive effect on performance of the business. Other than the stockbrokers themselves the sales team are a key figure in the business due to the fact that they do most of the pitching to clients through cold calling. The training of sales team members starts off with the use of a script. This allows gives them an idea of what to say to start the conversation and how to carry it on depending on responses from the person on the other end of the phone. Employees at Equitrade Capital are encouraged to study the stock market on a daily basis as to increase their knowledge and for the sales team this gives them a wider variety of what they can talk about on the phone. Increasing the knowledge used gives off a better impression of the individual and business as a whole by making sure the cold caller knows what they are talking about and can give this information in a calm and informative way without breaking laws by advising a non-client’s finances. The way we motivate the sales team is through friendly competition in the use of a bonus scheme, for every meeting set up through the sales team member they will generate a bonus which will be paid monthly with their wages.

Another human resource worth mentioning would be the office Secretary. The role of the secretary is to place calls through to the relevant persons and also to arrange meetings on behalf of stockbrokers if they aren’t able to. At Equitrade Capital our secretary takes on other roles as well as what I have already written about, for instance the secretary is also able to check share prices and pass them along to clients and can also answer any questions clients may have about their investments. The reason for this is the fact that the secretary goes through almost the same training as the sales team by constantly keeping their market knowledge up to date in case it ever needs to be used. While the secretary can’t go into as much detail as a stockbroker can the secretary is vital in organising meetings and generally handling incoming calls which allows the brokers to work on other projects instead of spending all day answering phone calls.