We have had a lot of discussions in our podcasts about how we need to change our approach to training the emerging generation of new business leaders…using podcasts, instant messaging, social networking, blended learning, blogs, wikis, video. Well today, I saw an eye opening commercial on ESPN Sportscenter….
In this commercial, for Verizon Wireless’ ESPN MVP, they interview someone who was named the “MVP” of the off site training session because he was” having trouble staying awake” at a corporate training session. There are rows and rows of people in a dark room, with the Powerpoint slide show droning on
 The “MVP” is using the light from his phone to check game scores and his Fantasy Football team….
Over the past few weeks, I have had the opportunity to speak with some clients in the financial services industry. As many of you know, their industry is incredibly complex, highly regulated, constantly changing and most importantly, touches almost every person in the world.
 They all face a common challenge….. How do you keep your employees, who are spreadout all over the world and constantly in a whirlwind,  up to date, in compliance, and armed with the right information to share with customers?
For many years, this industry relied almost exclusively on traditional classroom training…and lots of it. Given the time pressures that are endemic to this industry, how can employees do their jobs and be available for all of this training? I read an interesting article from ASTD  the other day that spoke to how one firm, Capital One, addressed these challenges.
Capital One first  decided to undertake a series of  surveys and focus groups to find out how their employees likes to learn. What did they find?
According to Michael Walker, Manager of Learning Services, “it was a consensus that our associates are so busy that they just didn’t have time during the average workday to get to the classroom.”
So…what did Capital One do? ( The didn’t say NO!)
They bought ipods for their learners and created a suite of podcasts for learners across their entire company.Â
For example, their finance group, offers a classroom training program on Earning Calls, with a collaborative twist. As part of this program, Capital One created several podcasts with sample earnings calls that attendees had to listen to before the training session as part of their preparation. During the classroom session, they were expected to discuss and analyze the information they learned from their podcasts. This allowed trainees to arrive at the session better prepared. Also, they found that retention increased as the podcasts allowed each learner to absorb the information at their own pace.Â
Podcasts can also be quickly created and deployed to accommodate the changing regulations and fast paced environment in the financial services industry. You don’t have to wait for the next training course to take place to get updated. Plug in your ipod, synchronize and away you go.
Matt Schuyler, executive Vice President of Human Resources, had this to say about those who participated in Capital One’s podcast program:
“Their productivity is up, so literally, we’re making more revenue and income with fewer employees. Their learning is increasing as measured by their ability to take on stretch assignments, new roles, broader responsibilities, and so forth. And, I guess people vote with their feet. We have waiting lists for this program. We can’t distribute the courses and tools fast enough.”
If you’re in the financial services industry, maybe you should consider adopting some of these collaborative learning strategies to enhance and improve your traditional training offerings.
