Category: Blogpost

22 Oct 2021
compliance training

Can compliance training save companies from sexual harassment lawsuits! Read more…

Compliance training is such an important requirement for companies because of the increased protection of the common man such as employees and customers by the government authorities.

Industry watchdogs like EEOC have started imposing strict regulations so that the employees don’t suffer due to workplace problems such as sexual harassment. Women can be subject to quid pro quo sexual harassment, which involves not getting to keep their job and being rejected for promotions due to rejection of sexual advances. The second form of harassment includes not promoting a woman because of gender bias.

Companies need to take the issue of employee harassment seriously because penalties are high. The companies can suffer major damage when any kind of lawsuit is filed against them due to discriminatory employment practices. An employer is liable to pay penalties once it’s discovered that he knew of such a misdemeanor but did nothing to stop it. Hence e-learning for employers and managers is important so that they can act timely action before the matter escalates and reaches the court.

Penalties for sexual harassment charges

If an employee is fired from the job or decides to leave it due to sexual harassment, then he/she can file a lawsuit. In that case, an employer has to pay damages to the employee for his/her economic losses. These kinds of losses are counted from the time a victim was jobless to the time the harassment lawsuit was settled and he/she is reinstated. An employee could also have been denied a promotion due to sexual harassment and he can ask for monetary compensation till the time it’s proved in the court depending on the salary hike he deserved.

The second kinds of payment are compensatory damage because of the agony of the victim.

A victim also has to incur charges for the court fees and hence an employee has to reimburse him for such expenses known as legal fees.

Hence, the compliance training courses through e-learning need to be designed particularly for the HR managers who ensure that the rules are followed. Although the businesses have started taking the right steps in this direction by implementing a hotline where the employees can complain, they have proved to be useless.

.How can hotlines be made effective?

The anonymity of complainants in hotlines

A major reason is that these hotlines don’t ask the employees to reveal their identities, which causes problems in getting justice for them. The complainants don’t wish to be identified because getting known as a sexual harassment victim is not easy. When the case goes under investigation, the victim’s reputation is at stake, however, without any details on their hands, the authorities can’t follow up on such grievances. The employees should know that when an investigation happens, the companies want them to cooperate in disclosing the details. The former can’t be complacent after filing the complaint and there is some after-work also. Another obligation of HR is to ensure that the employees must know about the hotline. These helplines should be available to employees all the time for registering complaints because sometimes they like to report an issue after discussing it with their family members. So, such helplines should be accessible even after office hours.

They can be informed about it during their onboarding sessions via e-learning or in person, or included in company newsletters. Such newsletters are excellent ways to forward information about a harassment incident and how justice was meted. Such incidents can also be brought into employees’ knowledge through the company intranet.

Reliance on hotlines only

Another problem is that the company’s HR should also consult other sources for getting informed about employees’ grievances. These sources are considered more reliable by the employees because they consider complaining to a known authority more credible. The employees might find it simpler to put forward their problem to a supervisor who is in direct contact with them or a manager. In a report, it has been revealed that only 11%of suffering employees use hotlines to file complaints.

When HR is being blamed

Sometimes even if the whistleblower reveals details of his perpetrator during the hotline call, he may never get any justice because the HR is being charged with such misconduct. The company may refuse to initiate any action against the latter. Hence the employees don’t get what they deserve.

E-learning helps in getting the right hotline vendor on-board

ELearning can help a company’s managers deal with such issues because they can ask for so many services while taking a third-party vendor hotline. They can ensure that certain callers who have accusations against certain managers are given hotline numbers to safeguard their identities. This way, such callers can protect themselves from retaliation. Such employees will only talk on those hotline numbers and this way their complaint is not divulged to many people. It’s the job of the hotline vendor to see that such complaints are only shared with the people in the senior management positions in companies.

Although when special hotline numbers are used for receiving complaints, the identities of such employees can’t be protected when legal proceedings start against the accused. Then the latter will get to know who filed the complaint against him. Hence then it’s HR’s job to ensure that no vindictive measure is taken against the accused. That’s why e-learning for all the employees and HR is mandatory so that the distressed employees get justice.

 

21 Oct 2021
HR Elearning

How is HR elearning useful for employee training?

There are a lot of job changes an employee goes through in his/her lifetime. But, sometimes organizations are not prepared for long training periods after an employee has joined to accustomise him. In fact, new employee training means spending so much on training and paying for man-hours just to explain the software and the work-based procedures to him. Instead, they prefer retaining older employees, even though it requires giving them a hike.

Although employee attrition can’t be stopped, one of the main reasons that happen is a paucity of communication between employers and employees. The pandemic has made sure that employers have to work hard to ensure that employees are getting the required focus and incentives. The companies are finding it hard to get labor ready to work from offices. So, once you have such labor you can’t let them go easily, even if it means investing in their training to make them suitable for higher-level roles.

Companies are giving their level best to ensure employees are not deprived of any skill-based training. But, employees can also feel exhausted when their work schedules are overloaded with training sessions.

HR e-learning has therefore taken such importance because they have to adopt new technologies for employee training.

One such novel technology is the remote visual assistance software.

On the point help available

The remote visual assistance software provides excellent support to companies who handle employee problems arising due to their dealing with new software. It’s because such software can be introduced into the LMS of a company to ensure that whenever employee practices simulations he can’t get stuck. He might be going through the process to install a router at a customer’s place and finds that somehow the relevant simulation uploaded on the LMS is missing some steps. He can immediately contact his senior, share a link with him on the remote visual assistance software, so that the live stream from a customer’s phone is available, encircle the router, and ask for help.

However, the employee first has to share the browser-based link of this software with the customer so that live feed from the latter’s camera can be seen on his phone. 

The expert can guide the employee, whether the router model is outdated or there is some other problem blocking the installation.
Hence, employees become perfectly confident because they know that they have just-in-time support available to them.

Excellent customer service

When employees are working in their cubicles and face issues while working with software, they can resolve them immediately without hitting Google because they can share screens with the superior through remote visual assistance software. This kind of assistance is quite imperative for a customer support executive who sometimes can’t solve the client’s problems even after consulting LMS. Hence he can send the link to the customer and get him to share his screen and then exchange the same with the expert and get immediate answers. For every employee, a company invests so much time in training, but often it’s not productive because the employees have not learned anything practical. But with this software when screens can be shared by trainers ad co-annotated by the learners the experience is quite different. It ensures that employees don’t take much time before becoming productive for a company. HR E-learning is paramount to ensuring that employers learn this tool.

Employees can also benefit from this technology when the new employee is paired with an older employee. So the former can ask all kinds of questions and improve customer satisfaction rate.

20 Oct 2021
elearning companies USA

How can elearning companies USA prevent a project from getting failed? 

Educational technology is now the major resource for learning. So many companies are indeed using it for training their workers. But is e-learning the most secure form of learning. When employees are connected through e-learning, they have a record of questions posed by them. They also don’t have to wait for the email to arrive with the trainer. Also, an LMS can be indexed so that learners can find urgently needed information.

Easy for learners to search information

There are some settings in an LMS that make this kind of functionality possible. Then, the learners can search through keywords, and when the Index title, Tags, Description, and body mention any of them, they can get the results. So, depending on these choices the index is rebuilt. For example, you can choose that the learner does not get results if the search term is contained in the index’s body because that kind of functionality would be too exhaustive.

Additional learning methods available

The e-learning solution also can fail to deliver results when there is no other form of training apart from the former. The learners also need human support like classroom training so that problems are resolved.

An e-learning course also can’t be successful because the IT department is not supporting it. It’s because sometimes employees need access to websites to learn how to successfully handle a project related to new technology. Of course, the latter kind of research is needed to get more clarifications about the content of e-learning and it complements it. But when any informational website gets blocked by the IT department, then the e-learning might not measure up to the targets. The employees need other sources of information too apart from e-learning and due to such internet blocking; they tend to learn from a trial and error approach which costs a company valuable time.

Managers not supporting the elearning project

The managers might also create problems with the implementation of elearning because they feel that their work will increase and it can’t be denied. It’s because they have to be vigilant about how many employees use the LMS. They also must encourage employees to sign up for the online training which increases their job duties.

Hence an e-learning course can only be successful once it gets the support of the managers who must popularize it.Another reason is when the line managers are not included in creating the elearning content. E-learning companies USA must make note of this. It’s because they can influence the employees and hence it causes problems. So, line managers must be included in content creation and the training department must not neglect them. Hence, elearning companies USA should ask these managers how they can achieve their goals better when employees are trained. When such tasks are defined the e-learning course has the yardstick of success or failure.

When managers are excluded from the elearning process, they can convince employees to believe that this kind of learning is only for the masses and the company does not wish to pay any individual attention to them.

Moreover, these line managers are important resources for e-learning companies USA because they can provide valuable information about the training needs apart from encouraging employees to sign up.

They can also provide design ideas depending on the tastes and abilities of employees. E-learning companies USA must remember that these line managers often act as classroom trainers and hence don’t want e-learning to supersede them.

Lack of proper technology

The technology must also be taken care of by the e-learning companies USA. They must know the structure of the PCs on which the LMS will be accessed etc. It’s because sometimes, the companies don’t have advanced systems to support the needs of the e-learning content like its graphics.

Hence a representative of e-learning companies USA must go on-site before taking up the contract.

19 Oct 2021
elearning companies USA

Elearning supports business continuity planning 

The world has experienced such a huge change due to the pandemic. Many companies indeed had to shut down because they were not able to handle challenges imposed on them. This pandemic created unprecedented stress for companies who had to put up work from home employees. Never before in the history of mankind, had such a work culture been introduced.

As an aftermath, the companies, therefore, turned to e-learning companies USA to educate managers about Crisis Planning & Management and Disaster Recovery for such critical situations.

Organizations are now including such courses as part of their training so that the situation does not go out of hand as it happened during 2020.

That’s when businesses were not prepared to handle employees working from their abodes. But, with business continuity e-learning companies are prepared to handle any exigent situations before they happen. Anything that can adversely affect business operations like a natural catastrophe, violence in the workplace, and even employee strikes can be dealt with, with such training. Every company needs to take such kind of training seriously and ensure that all the managers sign up for it.

This kind of training includes topics such as:

Talking is crucial: Communication with external stakeholders is the key during such problems. So, managers are taught about how to convince vendors and customers that things are under control. Buyers need to be persuaded that companies are not going to stop their supply. It’s because some customers are crucial for business and it does not want to lose them.

Employees can also get troubled during such situations and may try to change jobs because they disbelieve a company’s capacity to pay salaries. Hence a company needs to clear their misconceptions about any discrepancies in salary disbursement.

How to replace normal work methods: A company needs to decide the replacement technology when any disaster strikes. Every infrastructure related to such technology should have been arranged beforehand to avoid any delay in work.

If the pre-decided technology can’t be implemented during the disaster, then any substitute workaround process should also have been planned. All these factors need to be documented properly so that they are available for consultation during a crisis.

Substitute offices and substitute labor: Companies must have alternative offices available for employees when they can’t work from their authorized offices. It’s also vital that replacement staff has been arranged in case the regular employees have to discontinue from their jobs due to illness or urgent needs. A company can’t postpone its work and let go of normal orders from long term clients because of the unavailability of staff.

How can e-learning companies USA help?

E-learning companies USA are aiding companies by providing training for critical software needed during a disaster. For example, during the pandemic, many companies needed to assess their future finances with special software. Due to training only, managers could forecast whether the cash flows generated through sales were enough to support the outflows caused by the payments of salaries. And as a result, businesses could calculate how many employees had to be retained for maintaining profitable operations.

Knowing such software is the task of the managers in a company who have been delegated with the responsibility of handling business continuity planning.

Moreover, a team structure is important for a company to smoothly wade out of such a situation. So apart from a sponsor who heads all the business continuity operations, there should be two managers under him who carry out his instructions. Knowledge of administrative tasks is useful for executing business continuity tasks. Hence an administrative assistant should also be part of the team. He can be given special training for this indispensable role by the course content given by e-learning companies USA.

It’s beneficial to impart business continuity education through e-learning companies USA so that the companies don’t face any hindrance during this time. A strategy to be implemented during this time has to be created, and it might not be easy to do so without the IT department which knows whether certain plans can be used or not. They can hand out a checklist to every department to know which tasks are crucial for operations and hence IT department can suggest the requisite plans and support systems. The concerned departments can be asked whether they have such support systems in place for such contingencies.

Hence e-learning companies USA can train managers about how to plan out business continuity, taking employees into confidence.

18 Oct 2021
LMS in banking

How has e-mandate introduced by the RBI necessitated LMS in banking?

The LMS in banking has become a major need of such organizations because the compliance authorities have become vigilant.

The banks have to operate as per these guidelines and their procedures should be in line with them. Now a new rule has been introduced by RBI to protect banking customers who integrate their accounts with UPI. The banks can’t deduct payments from a customer’s account as per the recurring payment option. This is a relief for so many customers whose accounts were debited for funds as part of utility bills and OTT recharge payments.

Earlier the deadline for the banks to initiate action as per this change was 31st March 2021. But the deadline had been extended because some of the members of the BFSI industry could not introduce changes so soon. This was due to the inconvenience caused to the OTT industry, which had been receiving recurring payments from their customers through credit cards. Although banks were willing to make the changes, the OTT providers were not yet ready, due to which RBI had to enhance the deadline. However, the banks didn’t make any recurring payments for a customer from 1st April, through the latter’s credit cards. Instead, the customers themselves made such payments to the merchants, such as OTT platforms directly.

Hence the new deadline was the 30th September of this year.

That is why LMS in banking is necessary so that no compliance rules are broken by banking executives.

It is up to the customer now to opt for the e-mandate facility at the time when they register for their credit card. This implies that they can choose to validate recurring payments through their cards through the AFA procedure. If a customer has not taken such a facility, no recurring payments can be made through his credit card.

What is the e-mandate procedure?

As per the change, the banks would have to ask the customer before making any payments through the additional factor of authentication (AFA). As per this practice, the banks will have to take a customer’s approval 24 hours before auto-debiting his account. It’s because the customers might no longer want to continue with the service and hence the banks can’t make payments on their behalf. The customers can be asked for their readiness for such transactions either through an email or SMS as selected by them. Such notification will inform the customer about the relevant transaction details such as the merchant’s name, the amount of the transaction, etc. The customer can cancel the transaction.

Well, the banks will have to take the customer’s special consent for payments for amounts more than Rs 5000. The agreement procedure to be followed by NBFC’s and banks would include sending an OTP to the customer before making any such payments.

But these new auto-debit rules don’t apply to the payments for mutual funds and loan installments and banks don’t need to seek the prior consent of customers for such recurring payments. However, the bank making such auto-debits should be the registered bank for such payments.

This kind of modification where the customer’s approval is mandatory was introduced first for card-based transactions in August 2021 by the apex bank. This step has been taken by RBI to bolster the confidence of the public in the financial sector of our country.

 

 

 

 

13 Oct 2021
compliance training

How important is an LMS for compliance training?

Companies want to ensure that their employees have access to the best technology to improve their skills. Hence an LMS is immensely useful for firms. The LMS helps companies in maintaining apt data about their employee learning activities. But what happens when an LMS is not helping at all in providing compliance training, rather it’s blocking your efforts. When an LMS can’t send you reports about its usage by the employees, then it’s a huge problem. It’s because when employees are not using an LMS their performance can’t improve. On the other hand, no email deliveries are being sent to you about their lack of engagement with the LMS.

Report generation and Mass mailing

Another problem is that the LMS should be able to send automatic email-based reports about how employees of certain departments are performing in their assessments. If there is no information about employees getting delivered to managers then their skills are not improving then the LMS is a futile investment. Hence the undesirable skill gaps pose a danger to your company.

Employee course Completion tool

Many regulatory authorities require employers to show completion certificates of employees’ training. Hence the LMS must have certificate issuance capacity without which there is no evidence that an employee has finished a certain course. When the authorities drop at your premises, you have employee certificates accessible from the LMS that they are trained. In case, a printout or a soft copy of the certificate is available to the employee, then it’s more feasible to show them to compliance authorities.

For all such purposes, an LMS must have a certificate management tool to ensure that the employees have completed all assessments and scored the desired passing grade, otherwise the course is still incomplete.

So, a business should not get an LMS that does not course and certificate management software for employee tracking in compliance training.

Employees who have earned certificates for certain courses are better candidates for promotion, role enhancement, and salary rises.

Integration with e-learning

A company can’t just create one-time compliance training resources because it’s such a dynamic field. There are so many updates made every year. Therefore, an LMS must have an inbuilt authoring tool so that the company can introduce new content with ease. Such an authoring tool can help a company in modifying its content with the aid of templates and a comprehensive asset library with videos, images, animations, etc. When you have such an LMS there is no need to invest in an external eLearning authoring tool for content creation and money is saved.

Easy to navigate LMS

Employees can also feel frustrated when the LMS is so much more complex. They just don’t have the zeal to read the content when the LMS isn’t user-intuitive.

They can end up wasting so much time just to access a page on a course. It’s better, that before you bring an LMS vendor on board, you check the usability of their platform through free trials. The foremost quality of an LMS is that it should have easy navigation. You can’t ignore the usability of the LMS when the e-learning content creation for compliance training has taken so many man-hours.

08 Oct 2021
retail elearning

Retail e-learning can bring customers to you

The retail companies in the US want sales growth to boost their profits. Since consumers spend so much money on online shopping these days, it’s important to focus on that aspect of business also. This is how they can train retail store workers to get more business

Train the front line workers

It’s true that either you invest money in Ecommerce websites or start training the front-line workers of retail stores so that they are better equipped to handle customers. It requires a lot of dedication to bring customers back to stores because they have become addicted to online shopping because of benefits such as saving time and availability of the latest designs. Designs which are not available in stores are indeed present on the merchant’s website. There is also a lot of crowd in such stores on weekends and national holidays, and everyone does not have the patience to put up with the long queues outside trial rooms.

It’s better that hence customers are incentivized with good staff behavior to come to your store. The staff must be at their politest best and customers must be helped with sizes. They should also know sizes like whether a product is available in a certain dimension or not. They can check so, by going through the inventory database with the product ID. For this retail elearning is needed for them to operate such software.

The best quality about such retail elearning is that the staff can study the material when they are free and there are no customers in the store.

Instagram advertising

Retail elearning is also important because customers are no longer aware of fashion trends.Socializing has almost stopped due to the pandemic and hence customers look upto social media like Instagram for taking fashion inspirations from supermodels or influencers. Retail stores have now employed new marketing tactics such as having a giveaway on festive holidays.

However, for this, a retail brand needs to have a website so that registered customers can get emails about such discount offers. The customers can even click on the Instagram page link mentioned in such an email and like an outfit displayed there. If they are keen to buy something they will take its screenshot and find it out if it’s currently being sold online or offline through chat messengers available on social media. The employees must be trained to handle such queries by taking customers’ data, informing them about the price, etc.

There can be in-store events such as an influencer visiting the store. But again such visits have to be advertised. When such Instagram influencers promote your brand on their social media handles, you can attract the right target audience. But again retail elearning is important for the employees to know which influencer to connect with depending on her followers.

Employees should also know how to ask that person to send shoutouts about the event on her social media handle so that her followers visit the store. Again, the retail store employees must know how to send emails about their visit to their customers.

Instagram ads are also useful because people are hooked up to this website and when they see sponsored ads in their feeds, they click on them. But again, retail store employees must know which designs to showcase in such ads. Measuring the ROI of such ads is also pertinent to check whether any leads are being generated and the company’s money is going in the right direction.

The employees can make sure that their website is registered on different search engines and can opt for Google Paid aids. However, again elearning can make them proficient in digital marketing.

Google Business listing makes you accessible

Your business should be listed on Google My Business with proper contact numbers, directions, and a website available. If someone does not get proper results because your business is not listed on there, they don’t know how to contact you. You can also ask customers to rate your products so that others can benefit from honest feedback.

When customers visit Ecommerce websites, they always add some products to their wish list. Reminder ads should be used for getting them to buy such products through sponsored ads on the websites visited by them.

 

07 Oct 2021
blended learning

Choose a blended learning vendor wisely 

Blended learning has become useful for companies because it combines elements of both classroom and online training. The learners can study from home and come to the company to attend classes for discussions or to understand tough topics. But, what should businesses do when they want to hire one of the eLearning companies in USA.

Check the expertise of the vendor

The first consideration is that a blended learning vendor has to help the company with all the aspects.

So, it’s better to check his expertise. Also, he should have worked with the kind of learners you want to reach out to. So, it’s better to analyze the age and gender of your employees. A reliable vendor will be able to guide you with several aspects of the program which include what kind of technology to use e.g., which LMS is the best. He can also find weaknesses with the current content and how they can be removed.

Experience of the vendor

An important part of blended learning is online learning. So, the vendor should know how to attract certain employees with the e-learning content. His methodology should be correct. He should be aware of instructional designing theories and how to implement them. An effective e-learning company knows where the assessments should be included in the content. When placed at the right place, such assessments can boost learner retention.

Talented team

One of the important traits you should look forward to in any of the e-learning companies in USA is that it should have a diverse team. When there are various talents with your e-learning vendor, the project is likely to be better. You should confirm with the vendor what is his approach to a blended learning project and make sure that he adheres to it. Hence, when the process has been clarified for you, you have a precise idea about the budget and the duration of the project. You can schedule other events such as employee hiring depending on when your onboarding e-learning project will be complete.

Don’t forgo quality for cost

When you have decided to outsource blended learning an important decision is the cost. But make sure you don’t compromise on quality for the sake of lower expenses. Also, don’t choose different vendors for different parts of the same project because that causes chaos and confusion. Before choosing a vendor for the blended learning project, assess your need, whether your in-house team is sufficient to do the job or not. So, it’s better to conduct an internal training needs analysis by sitting with all the Departmental heads.

 

06 Oct 2021
Banking elearning

How can Banking Elearning save Indian banks from punishment by Ombudsman? 

There have been changes in banking laws due to the active involvement of RBI.

Hence banking e-learning has become unavoidable for banks.

The banks are now liable for their actions and hence have to make sure that no problems are caused due to the negligence of banks. In fact, as per the changed scheme of the Banking Ombudsman, the RBI has strengthened regulations even further. As per the modifications, a customer can file complaints against a bank if he experiences any problems with the mobile or online banking services.
The Banking Ombudsman has the power to ensure that any complainant against a bank can get a relief up to 0.1 million rupees for mental agony suffered for careless and improper services of banks. Hence, banks have to be cautious about the provision of services to their customers. Banks also have to adhere to various rules such as following the mentioned banking hours.

In the case of the paperless banking services provided the misconduct consists of the following situations:

  • If a banking customer withdraws some money from an ATM but does not receive the due amount which is debited from his account.
  • Banks can also debit the same transaction amount twice from a customer’s account.
  • If lesser than the amount withdrawn is dispensed to the customers from the ATM.
  • Banks should also not conduct transactions when complete card details are not given by the customer. This happens when someone other than the customer is using the card to withdraw the amount from an ATM.

So, in such situations, the banks are supposed to handle customer grievances in time otherwise actions can be taken against them. They say precaution is better than cure. Hence the bank’s employees should be trained properly through banking e-learning to avoid any human errors in their operations. Alternatively, banking e-learning can also impart skills about grievance redressed mechanisms to employees so that they handle customer issues by approaching the right authorities.

Banks are also liable for punishment in the following situations when they don’t resolve the aftereffects of such mistakes:

  • When there has been a delay in the payment received for an online transaction initiated by a customer
  • Also, banks must make sure that no unauthorized fund transfer is done by them
  • When there is a delay in the payment of pensions
  • The banks may also not close a customer’s account as and when desired by him/her
  • The banking customers may wish to sell their government securities, but banks refuse to redeem them.

Para banking is also another area where banks have to be careful in the implementation of their services.

This is because if a bank is selling third-party investments like mutual funds and insurance services products it can’t do any mis-spelling. It has to be transparent in such transactions, giving out all the details of the products to the customers. Any kind of non-transparency is punishable with a fine of up to 10-20 lakh rupees. At the time of selling such products, the banks must also disclose any grievance Redressal mechanism which is available for solving customers’ problems associated with such third-party products.

Banking e-learning can teach employees how to deal with aggrieved customers. For example, when such a customer comes to a bank, his problems must be sorted and apt procedure followed. It is the job of the complainant to file a report with the bank. But after he does not get a reply within a month or does not get a satisfactory reply, he can file the complaint with the Banking Ombudsman. The complainant can file a complaint with the Ombudsman maximum within after one year of filing the complaint with the bank and getting a reply. So, these are the rules which the officers of a bank can be made aware of through banking e-learning. Moreover, if the complaint has not received a reply within 1 year and 1 month of filing a complaint about his problem, he can complain to the Banking ombudsman. It is the responsibility of the bank to ensure that an authorized banking officer has a copy of this scheme if the customers need some information about the same. Also, there should be a notice in the bank about the availability of the scheme with the concerned officer.

 

05 Oct 2021
Banking elearning

How can banks provide better operations with banking e-learning?

Banks are including elearning to make sure employees are adept at doing their jobs. They are given games by the senior management to ensure they get a hang of their job roles.

How are banking elearning games helpful in handling customers?

Banks face a crisis when it comes to handling a tough situation. It’s because although customers have shifted to internet-based banking due to the pandemic still some of them prefer to come to banks. It’s because old people can’t operate online banking software and hence need resolutions of problems such as cheque clearance, the opening of savings accounts, etc. These banking elearning games make sure that customer executives experience situations like how to handle queues in banks and don’t panic when such a situation emerges.

These simulation games empower employees to handle their job roles better. For example, in a cheque clearing game, the employees are supposed to move the players, to handle tasks like when a customer gives a cheque after which they have to verify the details. Any wrong move in the game penalizes the players. All the game results are sent to the managers who then decide when an executive should be allowed public dealing. When an employee has attained a certain score, he can then be shifted to a customer handling role.

When employees play such games, they get hands-on experience in dealing with customer processes, so they don’t commit any errors in the actual process. Such elearning helps employees to deal with situations like mortgages, payments, and approval of loans. The customers want expedited processes when they come to banks and hence elearning has become a crucial way to achieve these results. Banking elearning must also include system safety because any carelessness can cause bugs to enter the system and everyone knows the consequences of data theft in such organizations. Hence access control is important in this kind of training.

Security is also important in banking elearning because if any information about the process is leaked, the operations can be compromised. Any hacker can get knowledge of a bank’s operations and this can be risky. Hence access to banking elearning courses should be there for employees only.

Teaching employees about hard skills, soft skills, and compliance

Banking involves a lot of administrative tasks done through software. Hence it involves teaching employees the correct use of software for their job duties so that they become efficient. After going through banking elearning employees not only gain hard skills, but also soft skills and customers are more pleased. With an elearning platform, when employees play simulation-based games for their skill assessment, their performance can improve. Such communication skills are quite useful in convincing customers to save and open accounts with banks. Of course, the ability to save differs between different customers. But their psychology towards savings can be influenced by a banking officer who can tell them about good rates on term deposits. This way, the customer can become more financially knowledgeable and learn about how savings can fetch him good rates of interest. But there needs to be the protection of customers so that they are not defrauded. However, law-making authorities in several countries have come up with rules to protect customers’ money.

In 2017, RBI made changes to the Banking Ombudsman law which protects customers in case they are misled about a banking product(mis-selling). For example mis-selling happens when someone tries to conceal facts about a financial product like asking customers to invest in mutual funds which are linked to securities whose values can fluctuate and there is no assurance of monthly returns. But banking elearning can teach employees to refrain from such practices to protect the integrity of a bank.

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DSLR stands for Digital single-lens reflex camera. It has a digital imaging sensor. In this kind of camera, the captured image can be viewed in the viewfinder when the shutter button is pressed. Its shown through the main lens rather than through a secondary lens, so the user knows what has been captured. 

He was a German psychologist who is known for discovering the forgetting curve. According to this curve, the biggest decline in memory happens within 20 minutes, and then 1 hour.