In the field of the microfinance industry, continuous training is essential to perfect technologies, methodologies, strategies and processes. Due to the complexity of this social tool and the constant changes that the globalization process brings, especially in the area of economic development, the training of people who work in MFIs is very important.
It is necessary to continue improving the services provided to micro, small and medium-sized enterprises, but also to improve the methodologies used within the Peruvian microfinance industry.
Credit technology increasingly demands new standards in accordance with the current national reality, but at the same time in accordance with international standards. These respond to the needs of the contemporary world as an emerging nation, whose economy grows more and more, but at the same time maintains trends of social exclusion in urban-marginal areas of the coast and in rural communities in the highlands and jungle.
Competitiveness also requires more specialized training in management fields in business management, internal controls, business risk management, corporate governance and organizational reputation. This competition must compromise the boards, managers, headquarters and staff in general.
To meet the growing business competitiveness of the 21st century, it is urgent that microfinance organizations be prepared to undertake the necessary changes in the services and products they provide. It is known that the greatest precious asset in these times is knowledge, and if it is in accordance with the changes taking place in the world, even better.
From this perspective, it is important to invest in the training required by people who work in microfinance institutions. A trained facilitator or analyst will be better able to evaluate a loan, and an updated manager will also be better able when making a decision in favor of the microfinance organization.
On the directors' side, although they represent various public and private entities, with the proper training they may be able to understand what the microfinance industry in Peru means.
It is unfortunate that there are MFI managers who are unaware of the social role of microfinance, and believe only that it is a financial business. It is true that it is a financial business, but it is also a tool for social development. That is the function that sets it apart from commercial banks.
Training will never be an expense, but an investment of great social sense. Certainly there is a risk that a trained person may migrate to another financial institution for a greater economic incentive, hence the need to sign letters-commitments that link the beneficiary for some years with the institution that financed their training. When commercial banks (with the exception of Mibanco) decided to enter the microfinance segment, it was unethical for some senior executives trained by MFIs to join banks that never funded their training.
However, despite some complications and limitations that may arise along the way, training not only trains and specializes people, but also motivates them to excel in the work they do every day.
