Improving Insolvency Training and Culture: Key Insights from Industry Experts
Turnkey Exchange
Join us for the final episode in season 4 of the Turnkey Exchange, as Mark Simpson welcomes back special guests, Cameron Thomson and Michelle Mills.
Capture the key takeaways from the final episode in series 4 of the Turnkey Exchange, including key considerations in training approaches, bridging the “soft skills” gap, and empowering employees whilst leveraging their strengths.
Meet Our Speakers
Mark Simpson, Product Specialist, Turnkey
Prior to joining the team at Turnkey as a Product Specialist in 2022, Mark spent over 20 years working within the insolvency industry, garnering a greater understanding of the systems, processes and challenges facing the industry.
Cameron Thomson, Joint Founding Partner, VIA Leadership
Cameron Thomson is a founding partner at VIA Leadership, a coaching and leadership development firm, working with teams across the UK and internationally in Australia. A father of three boys and “apprentice” dog walker, Cameron also became a published author in 2021 with his first contribution to a leadership book. His next book is expected in 2025.
An avid golfer, Cameron is Vice Captain at Strathaven Golf Club and has held leadership roles in several clubs. He’s completed three marathons, enjoys running, and still celebrates his title as 1978 Udston Primary School sports champion!
Michelle Mills, Head of Training & Adoption, Turnkey
Michelle is a qualified insolvency practitioner with 19 years of experience, working mostly with mid-sized firms and handling cases from start to finish. After taking appointments in her final years of practice, she transitioned to teaching and creating insolvency document packs. Now, as head of the Training and Adoption team at Turnkey, Michelle ensures clients understand the IPS system and have access to effective training materials.
In the final instalment of our coaching, mentoring, and training series on the Turnkey Exchange podcast, host, Mark Simpson, is joined by industry experts Cameron Thomson of Via Leadership and Michelle Mills, Head of Training and Adoption at Turnkey. The discussion centres around the current state of training in the insolvency market and the importance of developing a strong company culture and “soft skills” for insolvency professionals.
Key Takeaways:
Structured vs. Flexible Training Approaches
The conversation highlights the structured nature of traditional insolvency qualifications, such as the CPI, CII, and Joint Board exams, which provide a clear career path. However, it also emphasises the need for more flexible, specialised training options to address the evolving needs of the industry.
Courses offered by regulators and industry bodies can provide valuable continuing education, but may not always align with the specific requirements of individual firms or professionals.
Bridging the “Soft Skills” Gap
A key focus of the discussion is the “soft skills” gap that often exists in the insolvency industry. Many professionals are promoted to management roles based on their technical expertise, but lack the necessary people management and communication skills.
The experts stress the importance of firms investing in training programmes that develop leadership, conflict resolution, and other interpersonal abilities to support the transition to managerial positions.
Empowering Employees and Leveraging Strengths
The conversation also touches on the importance of empowering employees and leveraging their strengths. By encouraging staff to be vocal about their strengths and interests, firms can assign roles and training that align with individual capabilities. Providing opportunities for specialised or self-directed learning can foster a culture of continuous improvement and employee engagement.
Conclusion
As the insolvency industry continues to evolve, a holistic approach to training and culture development will be crucial for firms to attract and retain top talent. By addressing both technical and “soft” skills, and empowering employees to take ownership of their professional growth, insolvency firms can position themselves for long-term success.
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