FADA Inks MoU With Yes Bank to Launch Dealer Upskilling Academy

FADA Inks MoU With Yes Bank to Launch Dealer Upskilling Academy
FADA Inks MoU With Yes Bank to Launch Dealer Upskilling Academy

Yes Bank has signed a memorandum of understanding (MoU) with the Federation of Automobile Dealers Associations (FADA) to launch the FADA Academy. The apex national body that represents the automobile retail industry in India will prepare current and future dealer leadership to build front-end and back-end processes, improve customer and technical operations as well as enhance financial results of each department in the dealership.

The FADA Academy will also focus on providing world-class training and development programmes for dealer principles, CEOs, service leaders, finance leaders and sales Leaders. The course will encompass a range of topics such as finance, strategy, customer experience, digital and innovation, process management techniques etc., which would benefit auto retailers and their teams to manage their business more efficiently.

The FADA said that the auto retail industry has conventionally been a family managed business, with families running these businesses for almost three to four decades, in case of some of the large dealerships. In such businesses, the first generation’s inclination towards leveraging new technologies is low as opposed to the second and third generation, who are B-school graduates but may have a knowledge gap in terms of KPI.

This knowledge-based partnership aims to address skill gaps to make auto retailers in India globally competitive by making the industry technically sound, thereby helping institutionalise the sector, the FADA said. In the first year, the academy is eyeing upskilling 500-plus dealer principles and 3,000-plus teams on various technical and management programmes. The courses will include various formats like workshops, certification courses and management development programmes that would be imparted through classroom, online and blended learning sessions through FADA Academy.

John K Paul, President, FADA, said the FADA Academy aims to evolve into a mechanism for constant learning among the fraternity. He added that ignorance can prove to be fatal in the current situation when disruptions are inevitable.

Rajan Pental, Group President and Group Head - Branch and Retail Banking, YES Bank, said the curriculum has been designed to upskill and upgrade the auto dealers segment.