Publication: Turning Pro : Raising the Level of Professionalism in Ukraine's Leasing Industry
Date
2007-11
ISSN
Published
2007-11
Author(s)
Mehrengs, Ernst
Ockman, Sarah
Abstract
In 2005, leasing companies in Ukraine
were continually telling us that their main impediment to
growth was the lack of professional staff. The leasing
market in the country was growing at a tremendous rate: the
overall leasing portfolio had more than doubled from year to
year, reaching almost $350 million by the end of 2005, and
the number of jobs in the leasing market was experiencing
similar growth. It was therefore increasingly difficult to
find qualified professionals who had experience in leasing.
Raising the level of professionalism and status of leasing
specialists seemed to be the answer to this problem, and
local certification was one way to do it. While the program
seemed a daunting and overwhelming task at first, it proved
more manageable once initial management skepticism was
overcome, the structure of the program was designed, and the
partners were involved. The certification program is now in
its second year, has trained over 150 people, and has gained
a good reputation. It is also a good source for leasing
companies to recruit and retain professional staff. 'In
the short term, this certification program helps to improve
the skills of our own employees, but more importantly, it is
useful for building a critical mass of professionals in the
leasing industry, and it will create a foundation for
sustainable growth in the leasing business in Ukraine'.
Citation
“Mehrengs, Ernst; Ockman, Sarah. 2007. Turning Pro : Raising the Level of Professionalism in Ukraine's Leasing Industry. IFC Smart Lessons Brief. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/6c8c9446-5384-5105-948a-b83abcc18c99 License: CC BY-NC-ND 3.0 IGO.”
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