Using Corporate LMS Software to Train BFSI Workforce

The changing customer needs, industry regulations, and market dynamics have made the Banking and Finance industry to utilize corporate LMS software to improve training efficacy, revenues, customer experience, and ensure consistent training quality across all geographies. In response to COVID-19 disruption, the BFSI industry is adopting effective measures to curb its impact and emerge stronger than ever. Banks and other financial institutions are focusing on offering vital services, without affecting the customer experience and employee morale. Corporate LMS serves as a viable solution to meet diverse organizational objectives such as tracking employee performance, encouraging team collaboration, and driving overall sales. Consequently, this will bring a new wave in the industry by leveraging robust online training platforms to enhance customer services, increase ROIs, and stay ahead of the curve.

Amid the global pandemic, companies in the BFSI sector face a gamut of challenges associated with changing customers’ needs and regulatory risks. The operational challenges faced by the customers and remote workforce showed upa gap in the systems during the crisis.  Few challenges for the BFSI industry during the outbreak include-

• Most employees are working remotely and need to be well-equipped with the latest technologies to manage contactless payment, virtual meeting tools, how to effectively interact with customers, and more.
• With changing economy, remote employees also need to adhere to the changing regulatory compliances. So, banks and other financial services are adapting an agile methodology for an increased customer engagement and business ROI.
• Financial regulators are concerned whether the organizations adhere to the regulatory standards, and risk management is compelling enough.

 

The increased shift to digital learning has enabled banks and finance institutions to train their remote staff on critical processes adequately. Several benefits of corporate LMS software for the BFSI sector include-

• Collaborative Learning

The robust training management software supports social collaboration, enabling remote personnel to engage with the irpeers via virtual meetings. Corporate leaders can also actas mentors to educate their teams about the changing business strategies and workforce decisions. Remote employees can post their queries on online forums or virtually discuss through web conference rooms to share new ideas, individual experiences, and thus remain connected.

• Automated compliance

Banks, financial corporations, and investment funds need to train their remote staff on the mandatory compliances. In the current crisis, online LMS software serves as a viable platform to deliver automated compliance training, improving the company’s brand image amongst the clients and employees. The geographically spread workforce also needs to understand the changing work ethics, risk management strategies, andmandatory compliances. Ultimately, compliance training enables the workforce to understand financial regulations, improve career paths with knowledge retention, and prepare better for the future.

• Employee Upskilling

The wave of digital transformation is rolling across every financial institution and bank. It has become vital for the industry to upskill its remote employee and boost their morale. So,managers should utilize corporate LMS software to become a mentor for employees in developing soft skills such as resilience and stress management to cope with the current situation. They should also teach the top talents about leadership and project management skills. Consequently, the LMS provides room for employees to engage, retain, and upskill, thus helping the organization to grow and succeed.

Amid the global crisis, the BFSI industry is at the cusp of sheer evolution in regulations, policies, and overall culture. Therefore, it becomes vital to deploy the robust corporate LMS software to engage, retain, and upskill the remote workforce.

GCube is one of the fastest growing organizations in Asia Pacific offering complete learning technology solutions for diverse verticals including automobile, BFSI, healthcare, aviation, and others. With over 80+ industry awards, our solutions range from enterprise LMS, custom content development, Virtual Instructor-led Training solutions, mobile learning, micro learning, translation and localization in over 60 languages. To know more, you can write us at info@gc-solutions.net.

Top 4 eLearning Design Elements For Corporate Training

Choosing eLearning as the preferred medium for employee orientation and upskilling is just the first step in revolutionizing your training methodologies. The next step is to incorporate eLearning design elements that are visually appealing and interesting for the learners. Having overly complicated eLearning design elements can reduce training efficiency as learners might find them difficult to comprehend.

                           

Presently, learners wish to have the flexibility to access the course content across different devices such as desktops, laptops, smartphones, or tablets. So, there are certain eLearning design components that must be incorporated into the eLearning platform, such as:-

1. Mobile-First Design: - A large, dispersed, mobile workforce needs training on the go.Most of employees access eLearning courses through their smartphones and tablets. A device-agnostic training module is thus, imperative.The various benefits of this approach are flexibility, convenience, time and cost savings. So, while designing your LMS or online platform, make sure that it has a responsive design that allows for seamless access across a wide range of screen sizes. Make sure that the design and multimedia elements used are not bandwidth-hungry because most learners will access the course through their mobile internet. Some other design elements you can include here are simple menu, intuitive UI, soothing colors, and breaking the content into chunks.

 

2. Audio And Video Modules: - It is a known fact that visual learning elements elucidate a better response from the learners than text-based learning materials when it comes to eLearning. So, you must incorporate various audio and video elements while designing the eLearning platform. This will keep the learners interested in the training program and encourage them to complete more course content in a shorter period of time. Another approach that you can take is to embed social network platforms like YouTube and Facebook within the eLearning design. This will enable learners to access course-related videos and podcasts within the eLearning portal.

 

3. Easy Navigation: - Another essential eLearning design element that you must incorporate for a seamless learning experience on mobile devices is scrollable pages. Instead of using multiple hyperlinks to connect learners with concepts that are inter-related, implement scrollable pages wherein all related content can be accessed simply by scrolling the screen. This design example significantly enhances the learning experience while accessing the course modules through mobile devices. Moreover, you can easily set-up a little cliff hanger at the end of the page to make learners want to continue to the next page.

 

4. One-Page Resource: - Another extremely useful eLearning design example is using the one-page resource approach. This format is extremely useful for training new employees who are not well-versed with the company culture or their responsibilities. New learners can use this page as their go-to resource. Providing all the links to necessary information in one place will encourage learners to complete the training program. They will be better engaged with the training program and will feel connected with the company. One page resources are extremely interesting and engrossing as a tool for orientation as compared to uninspiring and often confusing welcome emails.

These versatile custom eLearning design options enable you to deliver a superior learning experience to the learners across multiple devices in a seamless manner. To know more, write us at info@gc-solutions.net.

Content Localization: Six ways in which it can add value

What is the content localization?

The localization of eLearning content is the process of translating and modifying content according to a specific culture. It is imperative to maintain cultural sensitivity while translating and editing the content across different geographical regions. eLearning localization aims to adapt the content of an eLearning course to a specific location and culture without losing the essence of the training program in the process.

Translation vs Localization 

Many individuals tend to confuse eLearning localization with translation. But the case is not so. Translation of eLearning content means the conversion of content from the source language into a specific language. The aim of content localization is to adapt to a specific culture by including images, symbols, tone of voice in audio narration, fonts, dates, and culture-based currency.

Let us look at six ways in which eLearning content localization can add value to a training program:

1- Eliminating cultural differences

Localizing a course will make sure the cultural differences are taken care of. The course that is entirely aligned to the target audience can clear any existing misinterpretations and can make the content more relatable. As a result, this provides a more effective learning experience.

2- Improving knowledge acquisition & retention
Since localization would enable the learners to relate better with the content, it will make it easier for them to acquire new information and retain it for longer durations. When learners encounter images, examples, or even fonts associated with their culture, knowledge acquisition becomes easier. This also contributes to longer and better retention of the information.  Consequently, the learning application will also become easier, better, and faster in the workplace.

3- Boosting employee engagement
Localization is like giving a personalized touch to show your employees the organization’s efforts to ensure their comfort and promote a relatable academic culture. As your employees better relate to localized content, this enhances overall knowledge retention and workplace productivity. Moreover, employees are more likely to engage with the training modules if it takes care of their cultural sensitivities.

4- Diversified core learning
Through eLearning content localization, the core information from the initial module can be transformed into a message for your target audience, specific to each location and culture. This will help to create diversified learning content while maintaining core learning.
It helps global corporations to integrate their diverse and distributed workforce whilst also offering successful global training — each employee can have an accurate image of the brand of his or her business.

5- Managing consistent content
As companies want to grow their reach worldwide, it is essential to maintain consistency across all translated content. A professional localization agency can work with a team of native speakers who can maintain the consistent style, tone, and voice of the course content. So, this helps to boost the credibility of the course as well as the value of the training program. Also, delivering consistent content helps organizations to save time and costs by creating and publishing the content more effectively.

6- Improving brand image and the popularity of the training program
Incorporating the practice of eLearning localization portrays the organization as being compassionate and considerate of its employees’ cultural sensitivities and values. This also helps the organizations gain the respect and trust of its customers and employees, and ultimately improve the overall brand presence.

These are just some of the many ways localization can add significant value to an eLearning course. As the process is extremely advantageous for the organizations that are implementing it, content localization is bound to become more popular with global organizations looking for uniform learning outcomes from the training programs.

GCube is one of the fastest-growing organizations in the Asia Pacific offering complete learning technology solutions under one roof. With over 80+ industry awards, our solutions range from enterprise LMS, custom content development, Virtual Instructor-led Training solutions, mobile learning, microlearning, translation, and localization in over 60 languages.

vILT - A Necessary Addition to Your eLearning Program

Classroom learning might soon become a thing of the past, as the “new normal” comes into effect, boosting the growth of the eLearning industry, around the globe. But changing training methodologies from classroom sessions to vILT requires identifying training goals and devising strategy that converts training content with minimal loss of objective.

What is vILT?

Virtual Instructor-Led Training (vILT) is a tool that bridges the gap between classroom learning and online learning. Herein, collaborative software and tools are used to connect instructors with learners. Learners could be present together in a classroom or at different geographical locations. But with the help of vILT, learning sessions can be continued much like that in a physical class but without the hassles of the same. In simple words, vILT takes the classroom online.
With increased connectivity and evolved software, two-way communication can be established between the instructors and learners easily. Minimum bandwidth requirement eliminates technical interruptions during vILT, and collaborative tools allow for the sharing of notes, documents, and other crucial information, enriching the learning experience.

Benefits Of vILT

Virtual Instructor-Led Training combines the best of online training and traditional classroom sessions. Here are the various benefits that vILT offers in present times: -

1. Encourages participation from learners: - One of the standout benefits of vILT is that it encourages participation from the learners. In normal classroom sessions, several learners are hesitant to raise any queries due to various reasons. This reduces the quality of the learning experience as the doubts have not been dissuaded. But in vILT, learners are free to raise questions and queries without any reluctance whatsoever, which significantly boosts the effectiveness of the learning experience. All this without breaking the flow of the lesson.
2.  Flexibility with training: - vILT facilitates anywhere learning. Learners can participate in the “virtual” classroom sessions from anywhere, i.e. from home, from office, or even while on the move. This flexibility encourages the participation of learners as they can save a lot of time which would otherwise be spent commuting to and from the classroom.
3. Lower costs: - One of the major benefits of vILT is the reduction in costs for the organization at multiple levels. First of all, the organization can avail the expertise of best instructors located at different locations without additional logistical expenses on account of arranging classrooms, traveling, boarding, and lodging of the employees during the training sessions. vILT also promotes greater engagement of employees with the training content, thereby improving the retention. This eliminates the need for repeated training sessions, further resulting in cost savings. Now, with better retention of lessons, productivity and performance of the employees also improve significantly, which translates into better motivation and reduced employee turnover; again reducing training costs for new employees.
4. The minimum infrastructure required: - In order to conduct classes, the requirement for infrastructure is minimal. When the company transforms its classroom training session into vILT session it can better leverage the features of the LMS. Different employees located across a wide geographical area can easily and securely access the content using their laptops, smartphones, or tablets without any restrictions. This reduces the setting-up time, and the lessons can commence in a quick time.

Virtual Instructor-Led Training has emerged as a viable option to keep training and learning processes ongoing while observing social distancing norms. Various benefits that it has over other online learning methodologies makes it an option worthy of consideration for organizations.
To explore vILT as an option for your organization, get in touch with GCube’s Learning Experts. GCube creates custom eLearning content as per specific learning needs in collaboration with subject-matter experts and experienced custom content development professionals – all within stipulated timelines and budgets.

ILT or vILT: The What is, Why Should and How, Of It

If you are at the point where you’re considering how to train your employees while they work from home, or have always felt the need to move to a more easily accessible learning option to classroom training, read this to help you make that choice.Below is a quick discussion on how to prepare for the transition from ILT to vILT.

The “What is”

ILT or Instructor-Led Training refers to traditional classroom training, imparted by an Instructor in a classroom setting. Training is delivered to a small or large group via lectures or presentations or a combination of mediums.
vILT or Virtual Instructor-Led Training refers to the virtualization of the classroom environment. This is most beneficial when the trainer and learners are not in the same geographical location. The instructor and learners engage on an online platform and training is imparted in a simulated classroom.

The “Why Should”

Wondering why you should consider the shift from one to the other? Well, it really depends on the unique needs of your organization. Largely it makes sense to move to vILT if you have a large, dispersed workforce to train regularly. Bringing everyone together in a classroom might prove to be a scheduling and cost nightmare. Given the current shutdown where it’s an impossibility, vILT can ensure uninterrupted training delivery. Here are 3 key things to consider when you’re weighing your options:

1. Ease of Use & Accessibility: A level of comfort with virtual tools is required for learners in the vILT environment which it isn’t in the classroom setting. However modern vILT tools are fairly user-friendly. vILT allows a much larger number of users, in diverse geographical locations to access training at the same time.But in a classroom setting, learners do not multi-task while in session. In a vILT setting, participants can be only partially engaged without the trainer’s knowledge; muting the session, signing in but not truly attending etc, can be some concerns. Creating engaging, short session with a blended vILT approach that also incorporates assessments, online collaboration with peers and other such methods can solve such problems.

2. Training Experience: vILT courses are typical shorter than ILT ones and can be converted into multiple media for delivery. With efficient content localization services now available, there is minimal loss in translation and user experience. This can up the engagement and retention quotient amongst participants. Shorter courses can reduce training lethargy that sets in with longer ones. But here one must understand the learning objective. If it is best met in a smaller group, where reactions must be observed to ascertain training effectiveness, ILT might be the better option. Also, non-verbal cues from learners, available in a classroom setting, enables the trainer to adjust his pace and delivery. This might be much harder to do on an online platform. Also, you’ll have to assess how your training content can be broken up into shorter modules as that is the effective delivery method for vILT.

3. Cost: In the short and long run, vILT is the economical choice. Even though there is the initial time and cost expense of converting training material from ILT to vILT, once done, it can be endlessly used without additional expense. It eliminates the need for participants and instructors to travel to a central location and at the expense of productive man hours on the job. Set against the backdrop of a large, dispersed workforce to be trained, it is a significant cost to the company given the multiple trainings it must incur. vILT also allows more participants per training and recording software allows the same training to be made available for all, at convenience.

The How, Of It

Once you’ve made the decision of moving from ILT to vILT, the following points will help you make the transition:

1. Evaluate the training based on objective. This will help you ascertain what, if anything, needs to remain in the ILT mode and what can be converted. This will further help break training into modules and decide what media and method can be used to keep it engaging.
2. Evaluate the platform. Training delivery is also subject to the platform you choose and based on the functionality it has. Whether you go with a robust LMS that broadens the spectrum of available media and method, or go with a limited functionality collaborative platform, depends on your training objectives, frequency and interactivities.
3. Choose the right blend. See which parts of your trainings can be broken into different formats to keep it engaging – live sessions, tests, videos, tutorials etc.
4. Ensure Instructor and learner preparedness. A switch to a tech-enabled learning environment may require you to train both on the use of the technology. Instructors might further need to be coached on delivery on the new platform.

For more in-depth information, do go through the links to see some other blogs and resources that can help you further in your decision-making process.

How to Successfully Onboard New Employees Even During Shutdown

This article articulates the importance of incorporating a robust Learning Management System (LMS) for onboarding new employees amid the COVID-19 outbreak. Using an LMS for onboarding purposes, can maximize efficiency in introducing new recruits to your corporate culture, accelerate job satisfaction, productivity and inoculate against turnover.

With forced quarantine being deployed by governments around the world to control the Coronavirus pandemic, companies have implemented work from home strategy to ensure welfare of its employees. However, a decrease in productivity, employee engagement, and a constant effort to bridge the communication gap, is a genuine concern of working remotely. One of the key concerns is – how to ensure successful onboarding process of new employees, while the workforce operates from home. Since onboarding is a reception phase of an employee who joins the organization, it becomes crucial for any organization to ensure and retain employee loyalty, maximize productive, and minimize turnover rate. For this reason alone, organizations are now deploying modern Learning Management Systems to bolster positive employee experience via virtual onboarding process. 

Understanding Virtual Onboarding

Brookshire’s Grocery Company, which has been awarded, “America’s Best-In-State Employer for Texas, 2019”, by Forbes, achieved 100% acceptance rate by more than 9,000 employees who underwent virtual onboarding and training, using a robust learning management system. Work from home based scenario shouldn’t and mustn’t inhibit employers from providing the best onboarding experience to new employees. Using a learning management system (LMS) for onboarding purpose can maximize efficiency in introducing new recruits to your corporate culture, accelerate job satisfaction, productivity, and inoculate against turnover. 

                              Source: Onboarding New Employees: Maximizing Success, Talya N. Bauer,2010

Benefits of Using a Robust LMS for Onboarding of New Employees Amid the Pandemic

1. Create a productive corporate culture with amalgamated learning material - With LMS, your HR team has strong control over the message that the organization would like to deliver to the recruits, during an introductory virtual orientation. Whether it is a mandatory compliance training, company’s value-mission-culture learning session, or a general view of its products and services courses, LMS helps in instilling an organization’s core values and goals among new employees, even as they work from home. In a nutshell, LMS helps an employer by converting manual process into a digital format and automate routines, saving money and man-hours.

2. Track and evaluate the learning curve of each employee - LMS can help employers to track the onboarding progress of each employee, with auto-generated reports and advanced analytics, without having to prepare, manage and transcribe to paper forms. By analyzing the assessments, employers can take corrective measures to help new recruits to retain knowledge, by aligning the right onboarding course with their learning needs; all while working from home.

3. Cost-effective technique -A Learning Management System meticulously organizes the onboarding information in an interactive and engaging way, so that it is successfully acquired and retained by the employees. Since its online, it saves the cost of organizing the training session (physical set-up), content creation, and, most important, the logistics of it. In short, you save big, as you onboard and welcome new recruits, while working from home.

4. Ease of use – LMS is an interactive device-based and web-based application that is compatible with an array of mobile devices, tablets, laptops, etc., most suitable for ‘on-the-go’ learners. This essentially means that content or learning modules are presented visually and can be accessed from anywhere and at any time, making it high on accessibility rate. The content for training can be delivered virtually, but in real-time, as per the needs of the organization. Learners also have easy access to notification dashboards. The best part is – user can access the learning material on their smartphones, in both online and offline mode.

GCube Learning Management System

GCube LMS is the proprietary learning management system that supports powerful authoring tools to create interactive content and deliver the relevant knowledge to achieve organizational success. The system’s unique approach to GUI brings information to the fore that helps employees utilize the system faster, and provides measurable ROI through stringent analytics. It is SCORM and Tin Can complain, with customizable and multi-lingual support to cater to the learning needs of your diverse ethnic workforce. To know more, you can write to info@gc-solutions.net.

Why do Organizations Need the Best Mobile LMS for Workforce Training?

With the advent of mobile devices such as smartphones and tablets, the scope for mobile Learning Management Systems is improving. So, owing to the mobile nature of the new-age workforce, it is essential to deploy the best mobile LMS for smartphones, laptops, and tablets. The robust mobile LMS platforms align training to varied job roles such as sales employees, pharmaceutical executives, and field workers.

Benefits of Mobile LMS

The mobile-first Learning Management Systems aid organizations to meet the diverse training objectives and performance goals. Significant benefits of mobile LMS include-

• Intuitive interface

Organizations deploy Learning Management System mobile apps that are simple to access and visually-appealing. If the screen is cluttered, then the learners may find the content boring and navigate somewhere else. So, it is essential to add clear instructions as to how to navigate through the system. An intuitively-designed mobile app and seamless navigation ensure better accessibility and easy adoption for an engaging experience.

• Continuous learning

Mobile LMS platforms also send timely updates and reminders to individuals. As a result, employees are aware of the upcoming training, overall progress, mandatory training, and others. As learning becomes more personalized and continuous, employees can effectively work on improving their skills, finish the courses assigned to them, and perform better.

• Offline access

Learners can download custom mobile apps for iPhone, iPad, as well as Android devices to access relevant training content, even offline. They can also launch the courses from the download list in the mobile app without any need for Internet access. Once the net connection is back, the system automatically syncs training updates.

• Comprehensive training tools

The best mobile LMS platforms offer comprehensive tools to deliver an enhanced learning experience. These tools support features such as online whiteboard access, multilingual interface, polls, and raise-hand to drive collaboration, In-built media player, and screen sharing option for improved accessibility.

• Better compliance

With a custom mobile LMS, employees can undergo mandatory compliance training at the point of need. For instance, an employee is performing a task and does not know how to proceed without breaking the regulations. He/she can log in to the LMS via their mobile device and watch a short demo video. Sales employees can also access Augmented Reality-based videos on their smartphones to seek updated product knowledge. Consequently, they can bridge skills-gaps, improve customer relations, boost performance, and drive overall sales.

In addition to the above, mobile LMS platforms also support features such as video conferencing, geolocation for attendance tracking, texting, and others. Features including bite-sized content delivery, rapid authoring, and gamification ensure a better learning experience for all. Organizations are investing in the best mobile LMS platforms to enable administrators, trainers, and learners to focus on the top priority content, anytime and anywhere. The custom mobile apps provide added functionality to meet the bespoke training goals of the globally dispersed audiences. Mobile LMSs deliver continuous training, measure results, and drive growth, thereby amplifying every step of your training program.