Just a couple of days ago we were reminded of how important employees are for a Forex broker, as one of the leaders on the Forex market – XM
, announced that it had secured accreditation from Investors in People (IIP). Let's confess it – when we look at Forex business what we see most often is a corporate machine that offers certain terms and conditions to traders: at the same time we neglect the human aspect, that is, the staff the broker employs. By the way, the latter does not involve only those enrolled as customer support and not only the management.
To those living the in the United Kingdom, the name of Investors in People should be well known. This is an organization run by the UK Commission for Employment and Skills (UKCES) and is, actually, owned by the UK government. What Investors in People does is that it helps businesses to detect the strong sides of their employees and then work to improve them even further. Here we have to use a number of modern concepts like “human capital” and “science of motivation” - oddly enough – these were unfamiliar to most businesses just a decade ago. Nowadays, HR teams should be aware of practices that will help employees release their full potential at work: we are talking about ingenious solutions like “No-talk Thursdays”, when each employee is granted a calm day with no one talking to him and interrupting his work. Of course, there are also team-buildings, bonuses, etc.
XM is a broker which aims to be up-to-date and seeks to take care of its internal structure and employees in the best possible manner. And IIP offers some rigid procedures that aid the broker in achieving these aims. Getting an IIP accreditation means that the company complies with 39 (sic!) criteria. A special Standard that IIP has developed shows the direction into which a business should work to get the most of its employees – these range from business planning and leadership, to management effectiveness and performance measurement.
What should happen as a result of the collaboration of IIP and XM is that the broker will be able to manage its staff and, hence, business growth, more effectively. This may seem as a minor thing to many, but it has one obvious advantage for traders – the better the employees of a broker, the better the service and more fluent your relationships with the company are.
XM.COM is a registered brand name of Trading Point of Financial Instruments Ltd, a European regulated financial institution licensed by CySEC. Trading Point of Financial Instruments Ltd operates online services for trading on forex, precious metals, equity indices, and energies in compliance with the Markets in Financial Instruments Directive (MiFID). Trading Point is EEA authorized and registered with the FCA UK (previously FSA UK), BaFin (Germany), AFM (Netherlands), CNMV (Spain), FI (Sweden), and FIN (Finland).