Other parts of this series:
The future of learning is coming to financial services firms. It will be adaptive, fast-paced, trans-disciplinary, self-empowered, and, above all, digital. It will demand that HR professionals reinvent themselves—again. The learning function in large organizations has undergone four paradigm shifts in the modern era. HR professionals should be adept at dealing with change at this point.
Even so, the odds are stacked against them. Change is hard. Most studies show that around 70 percent of organizational change projects end in failure. How can banks and other financial firms increase their odds of success? We’ll wrap up this series on the future of learning with a look at some leading examples from financial services firms embracing digital learning.
1 – The Bank of Ireland boosts employee digital IQ
Digital technology is central to the future of learning. This puts a premium on digital literacy. Employees or organizations that don’t understand the digital world will be left behind.
To emphasize the importance of digital skills to employees, the Bank of Ireland ran a “30 Day Challenge.” The campaign used engaging infographics to encourage employees to get familiar with the bank’s digital services and tools.
It might seem basic. This is precisely the point: successfully executing complicated digital strategies, like a transition to an integrated learning platform, is only possible with an understanding of digital fundamentals.
2 – Santander’s digital diversity
As the variety of tools we’ve looked at in this blog series suggests, the future of learning will be complicated or even a bit messy. We can make educated guesses about what tomorrow will look like, but there will always be an element of uncertainty involved in making forecasts.
That is what makes Grupo Santander’s digital academy a smart move. The academy is part of the bank’s digital transformation strategy. Key components include:
- A comprehensive learning offer for employees. That means the academy works with internal and external programs, partners with leading learning organizations, and offers formal certification.
- A knowledge management system that is flexible and lets users explore curated and non-curated material.
- A strong emphasis on the social elements of learning, including sharing best practices through blogs and social media.
- A digital careers inventory which can make smart career development recommendations for learners.
It is not likely that every element of this diversified approach will succeed. But as every investor knows, diversity is a great strategy for dealing with uncertainty.
3 – BBVA’s learning engineering takes a “phygital” approach
As part of its efforts to transform its overall culture, BBVA is revamping how it trains employees. The new system mixes in-person group instruction sessions with digital learning tools to teach employees new IT skills and systems. The mix of physical and digital learning tools aims to capitalize on the strengths of both.
The future of learning, as discussed, will pressure employees to accelerate how quickly they pick up new skills. Adaptive training programs like this one are one way of doing that.
That wraps up our look at the future of learning in financial services. Of course, the future is uncertain, and our predictions will never be perfectly accurate. I’d love to hear your thoughts on where learning in the industry is headed. I can be reached through the contact tools below.