Digital Learning: A Key Strategy for Success in the Finance Sector

Digital Learning: A Key Strategy for Success in the Finance Sector

As an HR or L&D professional in the financy indusrtry, it is key to make sure your team has the skills it needs to succeed. But how do you actually go about doing this? Elearning, sometimes called digital learning, is one approach.

Digital learning is the process of getting and completing educational materials and courses online. As long as there is internet connectivity, employees can learn whenever and wherever they desire. Online courses, webinars, and virtual classrooms are examples of elearning options.

Mass employee training

Moreover digital learning offers the advantage of enabling mass employee training. This is useful for companies with dispersed workforces or for those wishing to immediately implement new rules and processes for all employees. Elearning is also beneficial for ongoing professional development. Many financial professionals are expected to complete a specific number of CPD hours each year in order to maintain their professional skills and stay up to date on industry advancements. Thanks to digital learning, more employees may meet these requirements on their own schedule.

Boost retention and engagement of employees

Online learning not only offers options for training and education, but it may also enhance and keep personnel. This provides staff members greater influence over their education and growth, which may be inspiring and motivating.

You play a key role in integrating digital learning into your training and development procedures as a human resources or employee L&D expert. By doing this, you will assist your staff in gaining the expertise and information required to thrive in the cutthroat financial sector.

Your employees will receive the best learning experience possible if you provide them with top-notch e-learning materials. Book a demo with us if you wish to enhance digital learning at your firm. We can support your HR efforts, development learning and help your employees to progress in their careers.

Digital Learning: A Key Strategy for Success in the Finance Sector

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More about Digital Learning

Digital Learning: A Key Strategy for Success in the Finance Sector
Digital Learning
Jennifer Adams

Digital Learning: A Key Strategy for Success in the Finance Sector

As an HR or Learning and Development professional in the finance sector, you are responsible for ensuring that the employees of your company have the skills and knowledge they need to succeed. Digital learning, also known as e-learning, can be a valuable tool in helping you achieve this goal.

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Benefits of Microlearning for your company

Benefits of Microlearning for your company

In today’s fast-paced business environment, Microlearning is more important than ever for companies to stay competitive by continuously learning and adapting. One approach that is gaining popularity in the field of learning and development is microlearning, which refer to short, focused learning experiences that are designed to be completed in small increments of time. For more information on the different microlearning techniques, you can check out our article on the topic.

There are many benefits to microlearning that make it an appealing option for companies looking to upskill their employees and drive business performance. Below are the most important benefits of microlearning for companies.

For examples of best practice microlearning strategies, check out our free eBook by Nick van Dam, McKinsey’s former Global Head of Learning, on the latest trends and developments in modern L&D strategy.

Microlearning is convenient and flexible

One of the biggest advantages of microlearning is that it is convenient and flexible. Microlearning experiences can be delivered via a variety of formats, including videos, podcasts, articles, and interactive games, and can be accessed on demand via a smartphone or computer. This makes it easy for employees to fit learning into their busy schedules and allows them to learn at their own pace.

It’s Highly targeted

Microlearning experiences are typically focused on a specific topic or skill, making them highly targeted and efficient. This allows employees to zero in on the specific knowledge and skills they need to perform their jobs more effectively, without having to wade through unnecessary or irrelevant information.

Improves knowledge retention

Despite its brevity, microlearning can be highly effective in terms of knowledge retention and application. According to a study by RPS Research, microlearning can increase long-term knowledge retention by up to 80%.

Microlearning is cost-effective

In addition to being convenient and effective, microlearning is also cost-effective. Traditional learning and development programs can be time-consuming and expensive to develop and deliver, but microlearning experiences can be created relatively quickly and at a lower cost. This makes microlearning an attractive option for companies looking to upskill their employees without breaking the bank. According to research by R. Jimenez, PhD., microlearning can reduce development costs by 50% and increase the speed of learning content production by up to 300%.

Offers a more engaging learning experience

Microlearning experiences are designed to be engaging and interactive, which will help hold learners’ attention and increase retention. By using interactive elements such as videos, quizzes, and games, microlearning experiences can keep learners engaged and motivated to learn. A survey by Software Advice found that 58% of employees would be more likely to use their company’s digital learning platform if it had microlearning content broken down into short, bite sized pieces.

Best practice microlearning examples

Walmart launched a microlearning solution across 150 distribution centers in the USA making it available to more than 75000 employees. Walmart employees can access the microlearning platform at any time during their shift, and spend up to 5 minutes playing microlearning games, including games related to health and safety. The system provides instant feedback so employees can quickly identify areas they need to work on while reinforcing information they already know.

Magellan Health launched its microlearning content library to its 7000 employees, and participation in learning quickly soared to 80%. Before introducing and promoting microlearning internally, less than 2% of its workforce on average accessed the company’s digital learning platform every year.

BH Media introduced a microlearning-based onboard training methodology for its sales staff. The reaction was overwhelmingly positive, with 98% of sales staff agreeing that microlearning content was useful and immediately applicable in their daily workflows.

ATD switched from a traditional classroom approach to training its sales teams to a just-in-time training model using a new microlearning platform. Microlearning content developed to improve sales product knowledge around specific ATD products led to a quick 5.5% increase in sales of those products.

The business value of microlearning

According to a study by Deloitte, modern employees can only dedicate 1% of their day to learning new skills. Which means they have less than half an hour each week they can formally dedicate to workplace learning. Not only is microlearning designed to deal with extreme time pressures, research by the journal of applied psychology, has shown that learning in small bite-sized sessions makes the transfer of new knowledge to the workplace 17% more effective.

For expert insight into how to measure the impact and ROI of your company’s learning and development programs, make sure to listen to this free podcast by Facebook’s Head of Learning Measurement, Kevin Yates, called “Does your Learning Make an Impact?”.

In conclusion, microlearning is a powerful tool for companies looking to upskill their employees and drive business performance. By delivering short, focused learning experiences that are convenient, effective, and cost-effective, companies can create a culture of continuous learning that helps their employees to thrive in an ever-changing business environment.

The Benefits of Microlearning

Download free L&D content

Free eBook: Blended Learning

Free eBook: Blended Learning

Blended Learning. Solved in one solution. Get the right blend of modern and traditional learning. Why Blended Learning is important? What works for one employee

Download Free eBook:

Modern L&D Strategy by Nick van Dam

Download a free copy of our best-selling eBook with the newest trends in Learning & Development strategy by the former Global Chief Learning Officer at McKinsey & Co.

L&D eBook

More about Microlearning

Microlearning statistics and ROI: How to evaluate its effectiveness
Microlearning
Jennifer Adams

Microlearning statistics and ROI: How to evaluate its effectiveness

As a Learning and Development professional, evaluating Microlearning’s effectiveness is crucial. Measure its statistics and return on investment (ROI) to see if your investment is paying off. This will help you to make data-driven decisions and allocate resources efficiently. This article guides you on how to measure statistics and ROI of Microlearning, with examples and tools to use.

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The Benefits of Microlearning
Microlearning
Jennifer Adams

Benefits of Microlearning for your company

There are many benefits to microlearning that make it an appealing option for companies looking to upskill their employees and drive business performance. Below are the most important benefits of microlearning for companies.

Read More »

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