Navigating the Employees Through the Digital Innovation of Banking Products

What is e-learning? "eLearning (e-learning, electronic learning) is a type of online education, training, and knowledge sharing that is conducted over the Internet. It can be utilized in various settings, such as academic education, corporate training, continuing professional development, and skill development courses." (Fox, 2023) The dimensions of L&D are developing rapidly in the current digital era due to technological breakthroughs. The introduction of a wide range of digital tools and platforms has helped to improve the learning experience. This blog article will examine the latest developments in e-learning technologies and how they could affect the learning and development process.   Virtual Reality (VR) Virtual reality offers immersive and interactive learning experiences that transcend traditional classroom settings. According to a study by Huang et al. (2020), VR-based training simulations have improved learning outcomes by providing learners with realistic sce...

In today's rapid and competitive business environment, organizations recognize the critical importance of investing in L&D initiatives to equip their employees with the necessary skills and knowledge for the success of the organization. However, simply implementing training programs will not be effective. To ensure maximum impact and return on investment (ROI), organizations must have mechanisms in place to measure the effectiveness of their training efforts. Some of the key metrics are:   Training Expenses per Employee Tracking training expenses per employee enables organizations to understand the financial investment required for workforce development. Training Effectiveness Index Assesses the impact of training on employee performance and productivity and measures the degree to which employees apply newly acquired skills and knowledge to their job roles. By conducting pre- and post-training assessments and gathering trainee feedback, organizations can calculate the t...

Employee engagement refers to the level of commitment, motivation, and enthusiasm employees have toward their work and the organization. "Employee engagement is a cornerstone of organizational success, and its roots extend deep into the strategies employed for employee training and development. In today’s dynamic workplace, the connection between training initiatives and the level of engagement among employees is a critical factor in achieving both individual and organizational goals". (Millena, 2024) L&D as a Driver of Employee Engagement Providing employees with chances for learning and development shows that the organization is committed to their success within the company. When workers believe their employer is making an effort to advance them, they are more likely to feel valued and engaged in their work. L&D for Skill Enhancement and Career Growth Creating opportunities for learning and development enables employees to enhance their skills and competencies, whic...

Summary Organizations may foster a continuous learning and development culture that enhances employee abilities and knowledge in alignment with business goals. Employers may increase employee engagement, productivity, and retention by putting tried-and-true strategies into practice. These strategies include tailored learning paths, technological efficiency, and mentorship programs. Additionally, adhering to proper practices in learning and development (L&D) demonstrates a commitment to employee growth, which may attract top talent and position the company as a leader in its industry. Ultimately, investing in proper practices of L&D increases an organization's performance and competitiveness. Such best practices described by the Academy to Innovate HR (AIHR) are: Implementing a training needs analysis (TNA) Analyze the skills the organization has today and those the organization needs to operate effectively in the future. Setting clear goals and objectives Work towards speci...

There is no single approach to learning which is effective for every individual or every company. Individuals are used to different learning styles and organizations aim to have diverse learning outcomes. As an example, the 70/20/10 model is a renowned methodology for organizational learning. It showcases a balanced approach that emphasizes the importance of on-the-job training. However, in some scenarios, workplace learning occurs without formal learning. Also, there are some specialist professions that require years of formal learning and job training.   Hence, there is a vast range of L&D delivery methods that will be useful differently for individuals and businesses. Formal learning Lectures, classes and seminars which are goal-oriented and instructor-led with limited learner interactions.   Informal learning Can be considered organic, unstructured and self-directed. Tasks, feedback, and co-worker interactions in the workplace along with individual study will direct fo...