FINANCIAL institutions should desist from employing unqualified staff as untrained manpower is always costly, says the Zambia Institute of Banking and Financial Services (ZIBFS).
ZIBFS president Cephas Chabu said at the 14th Graduation Ceremony yesterday that it was cost effective to employ trained staff.
‘’I further remind all financial institution that are yet to come on board, that it is always cheaper and value adding to recruit and train a qualified officer, than to recruit and attempt to train an unqualified employee. It has been proven from various studies that hiring under-qualified becomes very costly in the long run,’’ said Mr. Chabu.
He said the learning institution was currently carrying out a survey to establish the number of graduates employed by banks and other financial establishments.
‘’ In order to get a feedback on the employment status of our graduates, we are currently carrying out a survey to establish how many of our graduates are presently employed by banks and other financial institutions. We shall use these statistics and dialogue with respective employers on how best we shall improve on the status,’’ he said.
And Bank of Zambia (BOZ) Deputy Governor Tukiya Kankasa Mabula said staff training must not be viewed as an expense but that it was an investment for the future, adding that training in practical skills provides long term benefits.
Dr. Mabula urged the students who graduated to look beyond the banks and financial institution for employment and explore other opportunities that existed in other institutions.
‘’I take this opportunity to remind employers that staff training should not be viewed as an expense; it is an investment for the future. Training in practical skills provides a long term benefit that can enhance customer service and contribute to the organisation’s growth.
‘’With a wide scope of career opportunities available, I would encourage the graduates not to limit their search for employment