How to Create Online Training Programs for Bank Employees
In every industry, the hard and soft skills training that employees receive can significantly elevate their efficiency and enable them to work faster and smarter, especially with technology. Such online training programs and upskilling are especially critical in the banking sector.
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These online training programs for employees can help employers make their workforce future-proof and benefit significantly in terms of increased productivity for years to come. In fact, every dollar invested in online training programs offers a return on investment (ROI) of $30.
How Bank Employees Benefit from Online Training Programs?
- Employees can access the training program from anywhere in the world, at their time of convenience – unlike offline training sessions
- If your training program covers a wide range of topics, taking it online will help employees access the essential resources, whenever they want
- Employees can benefit from world-class training programs. Highly-specialized resources, from any part of the world, can contribute to the program
- Online training takes 40% to 60% lesser time than traditional sessions
- Traditional training sessions have retention rates of 8-10%, while online training has 25-60%
- Employees can get real-time, personalized feedback from the instructors.
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Things to Consider While Creating Online Training Programs for Bank Employees -
1. Upskill And Reskill
Incorporation of technologies such as artificial intelligence can help banks reduce daily operation costs by up to 25%. Along with that, these technologies can relieve employees of numerous, monotonous tasks and can help with fraud detection and credit risk analysis.
As a result, more than upskilling, banks must focus on reskilling their employees so that their efforts and the newly incorporated technologies complement each other. By reskilling the workforce for healthy human-machine collaboration, banks can ensure that their employees are prepared for the future, even if the specific skills aren’t the need of the hour.
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2. Incentivized Training Approach
As online training programs are more beneficial for the banks than their employees, employers must ensure that the workforce stays motivated. Of course, banks can always make these online sessions “mandatory” and witness 100% attendance. But that won’t guarantee that all participants were fully attentive.
Instead of imposing online training programs on the employees, try cultivating a learning environment in which the employees’ efforts to upskill are recognized and rewarded.
This system doesn’t have to be based on monetary rewards. Instead, banks can utilize metrics or indicators that notify everyone in the organization about the progress each employee has made.
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3. Track The Progress
When creating an online training program for bank employees, many employers forget the need to track their employees’ progress. By not following their progress, employers will have the least knowledge of whether the training programs were successful or not.
Employers must make it a habit to gather feedback from their employees and see whether they are progressing the way you intended. You can ask easy questions and see if the training did make any difference.
4. Put Skills Into Action
The acquired skills are only useful if they can be put into practice. Also, humans tend to forget pieces of information unless they continually practice to use it. As a result, banks must ensure that the skills they imparted to their employees must be put into practice.
If they are trained for things such as presentation skills, or time management skills, make sure that there are several activities that require them to utilize these skills.
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Guide:
How to Create an Online Training Program for Employees
How to Create Interactive Training Modules?
Critical Modules to Include in The Online Training Program
The effectiveness of such formulated online courses or online training programs is, to a great extent, dependent on the modules you incorporate. Banks, or for that matter, any industry may have specific intentions behind a training session – it can be the launch of a completely new service or product or a major revamp to the company’s working environment.
Here are a few critical modules that can be included while creating an online training program for bank employees.
1. Soft Skills Training
Soft skills are personal characteristics that help employees better communicate with their peers, management, and, most importantly, the customers. Such skills can also help employees improve their efficiency in a collaborative culture as well. Here are a few topics you can include in the soft skills training:
- Communication skills
- Problem-solving skills
- Leadership skills
- Time management
- Teamwork
- Emotional intelligence
2. Hard Skills Training
Hard skills refer to teachable and measurable abilities, focused on specific processes or tasks such as the use of computers or pieces of equipment. These skills are as critical as soft skills.
To be precise, when considering the digitization of processes, hard skills are more prevalent than ever before. Here are some topics you can incorporate in the hard skills training sessions:
- Computer skills
- Microsoft Office skills
- Language skills
- Analytical skills
- Typing skills
3. Role-Specific Training
Although training the entire workforce with hard and soft skills is necessary, there will always be specific skills that only a particular group of employees requires. For example, a bank teller’s specialized skills will be entirely different from that of a loan officer.
So, while creating an online training program for bank employees, see to it that you address the general needs, as well as that of specific job designations.
4. Product And Service Training
Banks will have specialized products or services that may require extensive training. For example, a loan officer must be well-aware of the different types of mortgages and the related legal obligations. Ensure the training programs are primed to meet such requirements.
5. Assessments or Questionnaires
No online training program is complete without assessments or questionnaires to test the competency of the employees. Towards the end of each session, or by the end of the training program, make sure to include assessments so that both the employees and employers can analyze the program’s effectiveness.
In Conclusion
The quality and effectiveness of the online training program for bank employees are directly related to the effort and time you invest in making it. Instead of developing a generic training program, try formulating ones that are capable of fully addressing the needs of a distinct group with respect to their age, duties bestowed upon, or technical exposure.
With almost every industry learning and adapting to function remotely, bank employees will soon have to be agile and capable of keeping up with the changing trends. Fortunately, a thoughtfully designed online training program can systematically upskill them for the digital world.
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