In the banking sector, employees are required to continually learn new skills and information. There is so much that needs to be mastered, regardless of what sub-sector of the business specialises in, whether that be in universal, retail, commercial or investment banking.
Areas such as relationship management and credit skills need a particular focus when it comes to review and improvement, and as such, it is important for banking businesses to find a learning method that can be fit regularly into employee schedules and allow them the flexibility to learn on-the-go.
Microlearning is the answer.
So, what exactly is microlearning?
Microlearning can be conducted over desktop, tablet or mobile PC and delivers short bursts of information to users. This allows individuals to soak up small, bite-sized chunks of information at regular intervals, wherever they are and whenever they like.
Why is microlearning beneficial as a part of banking training programmes?
As a market that is expected to grow from $1.5 billion to $2.7 billion by 2024, microlearning is rapidly becoming a go-to training method for business everywhere, and for good reason.
Microlearning can be conducted wherever and whenever
It’s important to provide banking employees with a method of learning that they can return to time and time again on a regular basis, and when they are on the go. This is becoming increasingly important in modern workplaces, where employees may have flexible professional lives that involve working remotely, and travelling long distances to meet clients.
The ability to access microlearning material on a mobile device, as well as on a desktop, means that individuals can access learning material(s) at the exact moment they need it. Encouraging a more reactive way of working, that could be beneficial in a fast-paced banking environment where informed, intelligent decisions need to be made fast.
This is great for boosting learning as and when it is required, for example, when a customer-facing banking employee is faced with a difficult problem from a customer. They can access the information they need at the touch of a button. This is a great confidence booster for employees, as they know that they have an easily-accessible tool they can use to find solutions that they can immediately implement.
Perfect for Millennials
Millennials now form a large part of the banking sector workforce, and as such it is key to provide training methods that appeal to them and work for the millennial lifestyle.
Microlearning is perfect as Millenials are often time-poor but have a desire to progress quickly, and learn rapidly in order to do so. Microlearning provides Millennials with the ability to access learning material regularly in short bursts.
Microlearning can also be a great morale booster for Millenial hires in the banking sector, as they are likely to be less savvy and informed than their older peers. Having instantaneous access to key information and training, could help to make them feel more confident as a member of a team, and encourage them to voice their professional opinions. Which, in turn, will help them to develop within the sector.
To boost leadership confidence and knowledge
For leaders in the banking sector, it is crucial to stay informed on all the latest industry shifts. However, it is likely that individuals that hold leadership positions in the banking sector lack time and flexibility when it comes to long-winded workplace training programmes.
For this reason, microlearning can offer the ideal solution. Time-poor leaders can “top-up” continually on all the latest industry developments in banking by taking small chunks of time for microlearning, either on the go or in the office. With microlearning there is complete flexibility.
Microlearning can also offer leaders a confidence boost in that this method of learning allows individuals to take control of their training, and they can access it at any time and in any location.
Microlearning saves time and money
Because microlearning offers the opportunity to learn little and often, it reduces the need for repeated workplace training programmes that can be costly, and accumulate over the years to weeks or months of days spent on training.
With microlearning, individuals have constant access to one flexible platform, making this the most efficient learning method for saving time and money. And in a sector that understands better than most that time is money, this is an invaluable asset!
By utilising microlearning as a part of your banking training programmes, it is possible to provide employees with a flexible training solution that fits around busy schedules and learning styles, to boost confidence, increase banking knowledge and ultimately save on company time and money.
Here at MDA Training we offer microlearning as a part of our banking training programmes, and can tailor our training material to your banks offering to deliver an optimised learning experience.