Putting Refresher Compliance Training First
I’m sure you’ll recognise this scenario: A member of staff joins a financial services firm, they receive a first rate induction compliance training course lasting 2-4 weeks and containing a good mix of class based learning blended with practical, on the floor exercises. They ‘qualify’ and enter a grad-bay, spending a month or so under closer supervision.
Once they have proved themselves competent they are moved out of grad-bay and are off on their own. All of that sounds great, and it is. The problem is the support, post graduation, rarely maintains the high standards set by the induction programme.
This is a major risk for firms, especially when you factor in the fact that retained knowledge decreases over time. Successful firms need to find ways to re-teach, or constantly teach, knowledge in a way that captures the learners' imagination. Again, the more interactive and imaginative the training, the better the retention results.
This is where game based learning is trying to plug the gap. Imagine if you could provide your team access to a training system, containing all the subjects (modules) you need them to cover, and the training is so interesting and interactive your team come back, of their own choice, to re-cover the modules, time and time again. Can you envisage the amount of knowledge someone in this situation would maintain?
Game based learning is here, it's a little bit of an investment, mostly staff time, but it incentivises your team to keep developing their knowledge and skills. It works through a central game, or “instance”, which might be, for example, the need to build a bank. Your team can create new branches, add cash points, invest capital, extend head office, increase credit offerings – but to be able to do so they need credits. Credits are gained through completing modules, the higher the score when completing the module, the greater the number of credits gained.
Keep an eye out for our new e-learning courses; we’re busy creating two platforms ideal for your refresher compliance training. One of the platforms is the traditional e-learning system, where you can elect which compliance topics you want your team to cover. You can track progress and add an assessment if you choose. The other platform is the next generation in refresher training, game based learning. Team members need to build a financial services institution of their own, but, in order to do so must gain points from completing a range of training modules. Each module is short, snappy and highly interactive, designed to keep them coming back so they can build their business faster!
You can register your interest by emailing us at: firstname.lastname@example.org