Reducing of Time to Productivity

 

Large product portfolios with varying level of complexities for new teams with different levels of skills and knowledge. Have we been able to state the most basic issue of your life as BFSI leader? Our gut feeling is that we have. Longer time to productivity usually always means lesser time at peak productivity due to compliance mandates and certifications in your industry.

Thus, the basic and foremost requirement of any BFSI organization is to achieve shorter TTP and here are 5 steps to do the same. All you need is the right LMS.

Step 1: Pre-joining Engagement

The idea is to identify the skills and abilities of each individual right at the time of joining so there is no wastage of time and effort. The information can be captured on the LMS which can then deploy trainings according to the levels at which the employee currently is. A pre-joining training kit which may contain information about the organization, leadership, payroll etc also helps the employees settle down faster with the company with a sense of belonging.

The pre-joining involvement through the LMS creates the opportunity to deploy all the basic training modules related to the company’s products and key phrases or industry jargon so that your new-hires can hit the floor running. Of course, these will be material which are available on the public domain and are not proprietary documents. 

Step 2: Creating Personalized Learning Path

With information gathered and basic training deployed in the previous step, an effective LMS can then assign automated training to a new hire to bring them at par with others in their batch or even move someone to advanced batches if they are ahead of the others. Keeping in mind the different skill levels, talents and learning styles, a good learning management system can create a learning path for individuals based on multiple factors and help them to find what they are good at and truly enjoy doing. This in-turn helps them achieve peak performance faster.

As the learning is mapped to the job role or product an individual is handling, the LMS can throw up timely notifications required for certification or guideline updates which otherwise leads to confusions and loss of productivity.

Step 3: Create Immersive Learning Experience

The number of products in BFSI is extensive and often riddled with complexities that employees must navigate and be able to explain in simple language. This means they require in-depth understanding of the product, which is easy to deliver through interactive media via an LMS. Trainees are offered life-like simulations for scenarios, understanding of product combinations and with inputs from sales teams for real questions asked by customers. What they get is an immersive experience and are more confident to achieve peak performance faster.

Small learning nuggets can be sent to the employees at regular intervals, automated through the LMS. This ensures continued and reinforced learning which reduces knowledge loss and creates better customer experience.

Step 4: Segregate Experience Employees from new ones

Segregation of training programs and content based on who the audience is effectively reduces time lost in futile training or retraining. An LMS is again key to this step to achieve desired results. For example, the same product needs to have two deliveries. For basic level folks who need more detailed explanations and an advanced level for whom it can be a quick upskill intervention. As your LMS already has the learning data of each individual, it can help you identify the right kind of training required for a particular individual who is at a particular level of understanding or experience.  

Step 5: Make Learning an Agile Process

A company that has a tradition of agility will always find it easier to handle bumps in the road. Like most things, training processes and systems also experience fatigue and become outdated very quickly. BFSI companies need to invest in an LMS that are built to handle and respond to update needs in an intelligent way. A good LMS will allow deployment of changes, alerts to roles who need to learn or get certified, and also give leadership visibility to the status of certifications, especially those that fall under the compliance umbrella.

Knowledge is very liquid and relative, especially as the typical time in a role gets impacted by attrition, role change or promotions. Leaders need to be able to get more time per resource at peak productivity and the right LMS can be an ideal partner to help organizations achieve their Time to Productivity goals.

At GCube, we have 20 years of experience and 80+ industry awards in learning technologies. To know more about products and services, please do write to us. 

Automotive Industry Update: Learning Management Systems Should Be Industry Focused

Hiring an electrician to do a plumber’s job, could lead to someone or something getting zapped. Similarly using a corporate learning management system (LMS) to deliver training to the personnel at your auto dealerships can bring about dissatisfactory results.

To understand the learning needs at an automotive dealership, we looked at the variables that make our auto industry clients’ dealerships unique.

1. Diverse and non-homogenous skills and education of the work force
2. Unrelated departmental goals at first glance
3. Skewed trainer to dealership ratio
4. Lack of structured training before shop floor exposure
5. Unavailability of logical linking of training and performance

Our study suggests that for automotive dealerships the choice of LMS needs to be industry specific in order to overcome these issues. The following key features are what sets the Auto specific LMS apart from the rest of the lot. Read on.

On the job training and evaluation

At most dealerships, a new hire goes from completing their joining formalities to the shop floor directly. Under these circumstances where there is no formal training, it is important to have an LMS which has inbuilt forms, checklists, and tools. This helps mentors or seniors to keep track of everything they need to share with a trainee, and to evaluate a trainee’s performance while on-the-job.

Predictive analysis of individual’s performance to annual sales trends

Almost every role, whether customer facing or not, has an impact on the brand and reputation of a dealership, which ultimately impacts the annual sales trends. Therefore, an LMS which connects trainings attended to performance in their job roles, and then extrapolates that to find trends impacting sales, gives the leadership a way to predict training needs.

Simple user interface for diverse workforce

There cannot be different learning management systems for different departments at a dealership. Therefore, the LMS of choice must have an interface that is easy to use by an undergraduate mechanic with 20 years of on-job experience with automobile engines. With smartphones and tablets, it has become extremely easy to get a knowledge device into the hands of the employees, but the delivery of knowledge must be easy to handle and understand.

Sales and service enablement tools

Customers want great service and at a price point that makes sense to them. Whether the customer is purchasing a new vehicle, exchanging an older model, or getting one serviced, the employees talking to the customers should have knowledge, expertise, and customer service skills. Some things can be imbibed through training, but some things like market prices, loan rates, parts availability, etc. needs a ready interface that provides this information to the employee. An LMS that gives the flexibility to set up chat-bots, comparison charts, and calculators to enable point-of-sale assist is a blessing.

Integration with management systems

Integration with the CRM or dealership management system allows the LMS to fetch performance data and link it to the trainings attended or available. This also creates a visual chart or dashboard to be available to view and manage the extended workforce.

Optimum training resource utilization

When the ratio of trainer and dealerships is not optimal, the trainer has to travel extensively. Having an LMS that can track trainer calendars for availability and scheduling, and other resources such as room availability really helps. The LMS should also have an OTP feature for when the trainer starts a training. It should be able to capture attendance via an app and should also be able to deliver proctored assessments. If the LMS can provide all these insights, then it becomes easy for leadership to track the cost-benefit ratio of this method of training delivery.

In an industry that is in a constant state of flux, being able to empower and enable all the personnel at a dealership to put their best foot forward is essential. The right learning management system can help provide stability to employees and prepare them for handling the changes the future may bring.

We at GCube, have 20 years of experience and 80+ industry awards in learning technologies; and would love to hear your thoughts, queries, and suggestions. Please do write to us.

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.