February 24, 2024

It’s Time to Overhaul Professional Learning in Finance

The financial industry is facing unprecedented disruption. Yet much of the professional training and upskilling remains anchored in traditional, passive learning approaches like long online courses and dense text manuals. While this sufficed earlier, it is failing modern finance professionals who crave more stimulating, interactive, and relevant learning experiences.

The Problem: Low Engagement and Completion

Mandatory compliance courses and skills training in finance have dismal completion rates. Employees start tuning out information overload from lengthy courses and materials. The lack of engagement is exacerbated by outdated learning formats like static powerpoint decks or generic off-the-shelf content unrelated to their roles. No wonder professionals mandated to complete training dread it and forget most information quickly.

The Solutions: Bite-Sized, Mixed-Format Learning

It’s time for L&D leaders in finance to take inspiration from consumer digital experiences and overhaul their approach. The answer lies in using blended formats to deliver training, such as:

  • Microlearning: Short 3-5 minute videos/modules that explain concepts concisely.
  • Simulations: Immersive learning by doing through realistic role-play scenarios.
  • Gamification: Adding storylines, characters, rewards to make learning fun.
  • Mobile Learning: Bite-sized content accessible on smartphones.
  • Virtual Reality: Immersive learning through avatars and simulated environments.

This variety keeps learners engaged as they master skills through novel scenarios. It drives up completion as professionals learn at their own pace. Focused skill practice builds muscle memory and expertise, leading to higher retention.

At Mitr Learning & Media, we have partnered with leading finance companies to implement microlearning, gaming, simulations and other formats that have reimagined their employee training and engagement and delivered results.

Make Learning Fun Again

As finance transforms, so must training. L&D teams need to toss their old playbooks and craft experiences that are challenging, social, and most importantly – fun. Professionals who enjoy the process will voluntarily invest more time to learn, boosting their performance and value to the organization. The time is now for a complete overhaul of professional learning in finance using human-centered design thinking.

The article covers key points like challenges with current learning, need for engaging formats, examples, and benefits of an overhaul. Let me know if you would like me to expand, modify or refine any part of it.

Leave a comment

Your email address will not be published. Required fields are marked *