2020 is the year of true digital transformation. Covid-19 has forced organisations to adopt remote working, and Zoom calls with our families have become our ‘new normal’. This digital adoption has stormed the world of L&D too, but what impact has this influx of digital learning adoption had on the finance industry? In this blog I’ll share with you my thoughts on why this increase in digital adoption will result in huge success for the finance industry, especially when it comes to eLearning.
Flexibility: Now and way into the future
The best part of digital learning is that it can be completed anywhere. Employees can log onto your learning platform from anywhere in the world and complete your digital learning modules and accreditations.
Not only does training need to continue through this pandemic, but there is an abundance of new topics we need to ensure our employees are upskilled on (and fast). From teaching employees how to work from home effectively or manage remote teams, to sharing information about your ‘new normal’ once you return to the office – training is most definitely still needed in the finance industry. Digital learning gives you the flexibility to do just that.
However, digital learning adoption shouldn’t disappear after Covid-19 is a thing of the past. The finance industry should ensure digital learning is here to stay. Jobs within the finance sector are high pressured, employees find themselves jumping on the tube or in the back of a taxi to rush to their next meeting. They don’t have time for corporate learning days – or to sit at their desk to complete an eLearning course. If the finance sector adopts digital learning effectively now (and that includes making it mobile ready) the days of dreading recertification will be long gone.
Covid-19 has had a huge impact on banks, and other financial service organisations. With profit being hit, financial institutions are looking to save money wherever they can. By transforming typical classroom courses, such as softskills training for new managers, to eLearning, banks can save heaps. eLearning can save financial services money in a range of ways, including:
- Reduction in time away from the office. Time is precious, especially for employees in the financial services industry. By taking your employees away from their day job for an entire day, or more, could cost your organisation greatly. Allowing your employees to learn through digital mediums, at times that suit their work schedule, improves cost effectiveness.
- Upskilling quickly. Save time and money by getting your team up and running ASAP. In the world of finance, compliance training is essential – so speeding up this process with digital learning is a time and cost saving function for financial organisations.
- Training consistency. With global teams, it’s highly likely that your workforce has been trained by an abundance of different trainers – which could lead to varying outcomes. Ensure consistency in the most cost-effective way by adopting digital learning into your corporate strategy.
Ever evolving content
The finance industry does not sit still. Content is changing at all times and you need to make sure your employees understand the latest legislations, as quickly as possible. If you need to pull your team into the office every time you need to train them – you’re losing time and money (see point above!)
But not only will you be spending additional time on these courses, tweaking face-to-face instruction takes much longer than tweaking an eLearning course. Using digital mediums ensures your content is easy to tweak, no matter how minor, or major, the legislation change.
So, there you have it – my top three reasons why eLearning is a must for the finance industry. If you want to discuss more about eLearning in finance, please contact me, I’d love to have a chat!