eLearning refers to the use of electronic technologies (typically, the Internet) to build and manage all types of online learning programs, including corporate training. While eLearning programs can be beneficial for companies of all sizes and most every industry, Financial Services is among a small number of industries that tend to derive the greatest level of benefit. The rules, regulations, and complexities that Financial Services employees encounter make corporate training not just beneficial, but a necessity in order to ensure that your company remains competitive and compliant in the face of ever-changing standards.
The Benefits of eLearning-Based Corporate Training for Financial Services Organizations
The Financial Services industry is a highly competitive market that is driven by effective solutions and comprehensive customer support. Given this, management and support personnel must develop solid sales and service skills, along with the ability to understand and solve problems through effective listening and communications. All the while, Financial Services employees must be aware of and adhere to the industry’s stringent regulations.
Some of the major benefits that Financial Services companies can expect from the creation of an eLearning-based corporate training program can include:
Productivity
New hires at Financial Services companies are faced with a large and unique set of challenges. Given the pressures of the industry and responsibility to clients, it is critical that new hires are able to get up-to-speed as quickly as possible in order to contribute to the company’s goals and mission. Onboarding programs and courses can be extremely valuable in getting your new hires off to a great start.
Seasoned employees can also benefit from the ongoing availability of corporate training and eLearning programs for increased skills development, leadership training, and other types of programs.
Flexibility
Unlike classroom-based, in-person training, eLearning-based programs provide employees with access to the training materials they need, when and where they need them. This flexibility can be used to support contextual-based learning and allows employees to conduct their learning activities at a time this is convenient for them.
Compliance
Financial Services is one of the most regulated industries there is. It is critical that new employees have access to the information and instruction they will need to operate efficiently and within the rules and regulations of the industry and your company. It is also recommended that your existing employees receive ongoing training to keep them up-to-date on changes and trends.
Analytics
eLearning-based corporate training can provide your company with detailed data regarding employee engagement, progress, and success regarding their learning and training activities. This data can be used to hold your employees accountable for required training courses and help you to evaluate the success and direction of your training program over time.
Learning Management Systems for Financial Services Corporate Training
The core technology that supports all types of eLearning programs, including Financial Services corporate training, is a Learning Management System, or “LMS”. An LMS is the application that you will use to build, deliver, manage, and track your corporate training program. While some companies choose to “stand up” and LMS on-premises, they tend to be very large organizations that have the financial resources to acquire the required software and hard infrastructure. They must then commit labor resources for the ongoing management and maintenance of the system.
Today, more and more Financial Services companies choose to work with a cloud-based LMS offered by a third-party vendor. This approach eliminates the need for a large, up-front capital expenditure and shifts the responsibility for the system upkeep to the cloud vendor. Working with a cloud-based system also ensures that your company has access to the “latest and greatest” in LMS technology with state-of-the-art security and flexible system access.
LMS Portals for Financial Services eLearning and Corporate Training
LMS Portals provides our clients and partners with a cloud-based, multi-tenant learning management system that allows you to launch and manage private eLearning environments (portals) on-demand. Each portal can be uniquely branded and includes powerful tools for course building, user onboarding, collaboration, and analytics.
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