Why Finance Shouldn't Run Internal Training for Non-Finance Staff

In many organizations, the finance department is tasked with internal training to upskill non-finance staff in financial literacy and management. While this approach might seem logical, it often falls short in practice. Here’s why having finance run these training sessions might not be the best idea:

1. The Fear Factor: Understanding the Intimidation

Finance is often perceived as a complex and intimidating field. Non-finance staff can experience significant anxiety when dealing with financial concepts. This fear can stem from a lack of familiarity or negative past experiences with financial topics. Finance professionals, entrenched in their world of numbers and jargon, might not fully grasp the extent of this fear. They might underestimate how overwhelming financial concepts can appear to those outside their field, leading to training that fails to address or alleviate these anxieties.

2. Misjudging Financial Jargon

Another common issue is the assumption that non-finance staff are more familiar with financial terminology than they actually are. Finance professionals often use jargon and technical language that can be bewildering to those who don’t work with these terms daily. This disconnect can result in training sessions where non-finance staff are left more confused than enlightened, as they struggle to keep up with the terminology and concepts being presented.

3. The Lecture-Based Approach

Finance training delivered by finance professionals often resorts to a lecture-based format, which can be less effective for adult learning. This method tends to emphasize rote learning and theory over practical application. While finance experts are adept at handling complex financial problems, their approach to teaching may not translate well into engaging, actionable, and understandable training for non-finance staff. This can lead to sessions that are more about transmitting information rather than ensuring comprehension and practical application.

4. The Expert vs. Teacher Dilemma

Being an expert in finance does not automatically translate into being a skilled educator. Finance professionals might be excellent at their jobs, but this doesn’t mean they can effectively teach others who have different learning styles and needs. Teaching requires a different set of skills, including the ability to break down complex concepts, engage with learners at different levels, and adapt content to make it accessible and relevant. The gap between expertise and teaching ability can result in ineffective training that fails to meet the needs of non-finance staff.

5. The Boredom Factor

Finance training sessions often suffer from a lack of engagement. The skillset required to make financial training interactive and interesting is not necessarily one that finance professionals possess. Effective training involves creating an engaging environment where participants can actively learn through discussions, interactive activities, and real-world applications. Without these elements, training can become monotonous, leading to disengagement and poor retention of information.

The Bottom Line

For effective finance training, it might be beneficial to involve experts who specialize in adult education and training rather than relying solely on finance professionals. External trainers or consultants with experience in financial literacy training for non-finance audiences can often bridge the gap between financial complexity and practical understanding. They can tailor their approach to address the specific learning needs of non-finance staff, making the training more relevant, engaging, and impactful.

Have you ever attended finance training delivered internally by finance professionals? What was your experience? Did you find it helpful or challenging? Share your thoughts and experiences in the comments below!