AXA 'beats the Crunch'

In a year when the words 'credit crunch' are starting to affect us all, it would be easy for companies to reduce their training and focus purely on the task of getting the job done.

But AXA (IOM) says it's taking a different approach, by encouraging its staff to find out more about the business and the areas within which they work.

AXA says many of its staff expressed an interest in pursuing professional qualifications but were concerned about the studying and exams involved.

That led to the formation of an in-house support group, to help employees study for the Investment Administration Qualification.

In a new venture for AXA (IOM), managers and senior staff with investment and regulatory knowledge delivered study modules to the group over eight weeks.

The modules were two hours in length and designed to be interactive.

The final two weeks before the July exam were spent revising and practicing test questions with the support of managers.

Eight employees passed, which AXA says was "very impressive".

Head of Investments Adam Kneen said: "We are delighted with the results. It shows that even in tough times it is possible, with a little extra work, dedication, organisation and a keen workforce, to beat the credit crunch and give staff the development they deserve and need, to perform at their best".