What Banks Need To Know About Making The Business Case For IT Training
The ROI Of Training
Josh Haims (pictured at right), Principal, Human Capital Practice, Deloitte Consulting
The workplace has changed considerably in the past five years, and the rate of change is actually accelerated with the inclusion of social media, collaboration tools that are being used internally in organizations, the pressures of regulatory requirements, cloud-based technologies and the emergence of the front-line IT leader as business strategist. Over the past few years, proliferating customer touch points, mobile, social media and other channels are dramatically changing the face of customer engagement with organizations, and technologists must be ahead of those changes.
Learning has shifted similarly. Learning is coming out of the classroom and has become more embedded into the way people work. Concepts of social learning and on-the-job learning are becoming more accepted, creating innovation in learning around organizations being driven by chief learning officers.
We're seeing several areas of innovation in learning and learning for IT and technology organizations. First is nontechnology training, focusing on critical thinking, judgment, relationships and collaboration. More than ever, technologists must have these professional competencies. Next is innovation in the delivery method for training. Immersive learning or experiential simulations, for instance, involve complex learning simulations that bring groups of individuals together in person or on a Web-based platform to learn new skills, processes and workflows that are scenario-based, consequence-driven and allow people to test their mettle in a safe environment with little risk.
Innovation that focuses on customer experience is another area. Technology learning in the past tended to focus on systems you need to use to execute processes. That still exists, but leading organizations are now looking at customer touch points, how you interact with internal and external stakeholders, and what the critical touch points are. Apply the technology needs in training to customers' needs, creating a much higher-impact training experience and a better outcome for customers, whether they're internal or external clients.
If banking executives do not support the development of their IT professionals, they risk not being in tune with or ahead of their customers who are demanding more technology-enabled solutions. Today, the success of organizations is so heavily reliant on technology to make decisions, to predict client requirements, to manage the business and to interact with clients. That's how to justify training costs. The ROI is in the future of your business being successful.