Working with some of Asia's largest banks, World Learning Hub has helped optimize their operational training to ensure key processes are efficient, completed properly and standardised. Banks in particular can benefit from operational eLearning because it allows a large number of staff to be trained simultaneously with measurable outcomes and high retention rates.
It has been shown that for every $1 a company spends on operational eLearning, the increase in productivity is worth $30. The Research Institute of America has even reported that learning retention is 60% better in eLearning and time spent in training half of what it is in instructor-based training, which translates into a healthy 26% rise in revenue.
Where to use Operational eLearning?
Bernd Salewski, World Learning Hub director of operations and technology points out: “Almost all compliance and process training at employee and line manager level is very effective and delivers a cost saving in eLearning formats.” World Learning Hub has seen favourable outcomes over traditional training in the banking industry in areas such as anti-money laundering training, new employee inductions, behavioural guides, systems training, and value added production.
Gamification in Training?
When a major bank in Thailand needed an anti-money laundering course, World Learning Hub used the concept of gamification to give the operational eLearning a fresh twist. Bernd Salewski explained: ‘The whole course is game-based and transfers the knowledge and necessary process skills in a very engaging and entertaining way.’ This kind of game-based operational training targets the ability to solve problems and results in higher retention rates.
Banks all over the world are now embracing eLearning as the go-to way of training. Bernd Salewski is confident that eLearning will challenge, or even replace, standard training methodologies in many areas over the coming years. He predicts that from a technology perspective, we will see a strong move to mobile devices as the primary delivery channel for eLearning and also the integration of serious games and virtual reality techniques in operational eLearning.
The success of operational training can be highlighted by measuring specific outcomes – for example time spent in training, retention rates, or productivity – then evaluating progress against benchmarks that have been set for these business areas.
World Learning Hub provides independent consulting for customers on eLearning strategy and implementation and uses a unique production process for its eLearning customisations. ‘We call it rapid immersive learning and we apply methodologies like AGILE, Action Mapping and Rapid Prototyping to achieve the best outcomes for our customers in the shortest possible production time,’ explains Bernd Salewski. For a free consultation on how to shift to operational eLearning, contact firstname.lastname@example.org or send your questions via the contact form below.