by Mischa Häsler
February 22, 2019
Continuous learning improves a company’s ability to adapt to changes, it also improves the overall workforce. Mischa Häsler, Senior Manager at Orbium looks at how learning services can prepare the workforce of tomorrow.
Driven by a combination of complex regulations, new technologies and evolving client needs, the private banking and wealth management industry is undergoing significant and rapid change. Key to this evolution towards wealth management 4.0 is the ability for organisations to analyse, manage and process data effectively. This crucial competitive edge relies on the ability of employees to operate increasingly complex systems and software.
Recognising the need to both industrialise and innovate, organisations today have begun to see the value of staff development as it can provide a competitive market advantage, especially in the case of leaders and specialists. IT training for users of data-rich systems remains a niche area due to its specialist nature. The choice of a learning partner presents further challenges, as providers often lack technical expertise and, in some cases, the real-world experience of stakeholder management. Companies also find it difficult to free up the time of key employees for training, which means learning solutions must visibly improve performance on the job and facilitate skill and knowledge transfer.
Companies should carefully assess the cost of training and consider what is needed to deliver a formative learning experience that involves not only comprehension, but also a behavioural change that lasts. Orbium’s experience as an IT and business consultancy for financial institutions, sets us up perfectly to navigate the real needs of an institution. Our proven methodologies, proprietary software solutions and committed and talented teams, means we understand the demands of a changing workforce and how to implement a strong change and risk management culture.
Choosing the right partner for a learning and development program is a critical part of the training endeavour. To ensure success partners must combine tailored, on-site training with customised, engaging eLearning resources. The former covers not only the training itself but also managing and facilitating change overall, and the latter provides a more standardised approach, with ample opportunities for progress analysis, results measurement and almost endless reusability.
When planning for a move to new software solutions in areas where room for error in employee training is slim, we recommend the following strategy:
Orbium’s solutions provide blended learning in a personalised way across the software implementation lifecycle, enabling staff to be supported while acquiring the knowledge and skills needed to use the target solution in an effective and efficient manner. This provides a higher return on learning investments and brings faster results with lower risk.