Learning continued... Flashcards
Organisational changes
- changes in a firm’s procedures
- changes in technology
- a new product or service launch
Training needs analysis…firms must….
- Assess training needs at outset
- Reassess on a regular basis
- Provide support to address needs
- Review the quality and effectiveness of the training at regular intervals
If someone can perform a task but is choosing not to out of lack of confidence or attitude, this could be a performance issue, rather than a training need.
Where do training needs arise from?
Environment changes
- External factors to the business such as regulation, tax or legislative changes.
Organisational changes
- Company wide issues. New systems or software.
Individual changes
- Relate to the requirements of one person
- Performance management issues/ test results/ file reviews.
Environmental changes
FCA rules & guidance can result in change being needed - e.g. conduct rules, introduction of Consumer Duty.
Tax & legislation changes - annual budget or changed to AML or Data protection
Individual changes
- Exam or test results
- Observations
- Work performance or KPI results
- Development review meetings
Benefits of TNA for the individual
- Avoids knee jerk decisions / tackling too much at once
- Structured approach
- Identifies needs that otherwise wouldn’t be
- Less likely to have to go through training that is not relevant to them
On the job training
- work shadowing
- 1 - 1 coaching
- job rotation / secondments / projects
- role plays
- accompanied client meetings
- montoring
Work shadowing - advantages & disadvantages
Advantages
Easy to organise
Demonstrate the correct model/way
Shows how it works in the real world
Encourages a collaborative culture
Disadvantages
Can introduce bad habits
Can take up a experienced team members valuable time
Will normally require more than one demonstration to satisfy training
1 - 1 coaching - advantages & disadvantages
Advantages
Can be tailored to meet individual’s pace & needs
Feedback is continuous
Personalised interaction between trainee & trainer
Disadvantages
Can be time consuming
Does not include interaction with others being trained
Trainer must be experienced in all aspects of the process
Job rotation - advantages & disadvantages
Advantages
Can be used to broaden understanding of work activities
Good method of keeping people’s interest in the role
Can identify future roles staff can move on to
Disadvantages
Can reduce quality of output
Can be seen as unnecessary or waste of time by individual
Can be time consuming
Can impact in departments overall performance
Role plays - advantages & disadvantages
Advantages
Introduce an element of reality
mistakes made in a safe environment
process can be repeated & perfected
can be used as an assessment mechanism
Disadvantages
If structured poorly can bd superficial & lack realism
Preparation can be time consuming
Needs high level of skill from the trainer
Disliked by many
Can be threatening to the delegate
Accompanied client meetings - advantages & disadvantages
Advantages
Gives direct evidence of an activity
Good for developing skills & experience
Good way to assess whether learning has transferred to the workplace
It is real, not simulated
Disadvantages
Only a snapshot, may not give true picture
Can cause pressure on all participants
Relies heavily on trainer’s feedback skills
Can be time insensitive
Not an effective way of assessing knowledge
Mentoring - advantages & disadvantages
Advantages
Allows trainee to be open about issues & problems
Uses experience of the mentor to make things happen more quickly & effeciently
Gives status to the mentor
Encourages collaborative culture
Disadvantages
Can lead to bad habits being transferred
Very time consuming for mentor
Can lead to company’s message being diluted
Off job training
- Internal or external training courses
- Exam prep
- Distance learning - audio, reading, online training or webinars
- Case studies
- Conferences
Internal or external training - advantages & disadvantages
Advantages
Can be used to train a number of individuals
Involved views of and discussions with other delegates
Consistent delivery of message to all
Disadvantages
Not tailored, so may be not be totally relevant for all
Group size could be too large to encourage participation
Can develop into tell session
Face to face internal courses are relatively expensive to run
Exam prep - advantages & disadvantages
Advantages
Tailored to the delegate with knowledge to pass the exam
Gives learners exposure to a subject matter expert
Disadvantages
Can be boring
Lack of realism in relation to the job
Does not address skills required to do the job
Can be expensive to run training
Distance learning - advantages & disadvantages
Advantages
Good for procedure & technical training
Can be self-paced
Performance can be monitored by self assessment exercises
Disadvantages
Working alone can be demotivational
Not always possible to question learning
Not good for developing skills
Requires the individual to actually do it
Conferences - advantages & disadvantages
Advantages
Motivating by bringing colleagues together
Delivers message to a large audience
Provides rewards for successes
Disadvantages
Expensive
Often too big to involve participation
Cannot be tailored to individual needs
Training validation, helps show that….
Learning has taken place - skills or knowledge
The learning can be applied to the workplace
The results justify the money spent
Evaluation methods for skills and knowledge
Skills
Observations in the workplace
Role plays
Mystery shoppers
Client questionnaire
Knowledge
Written test or exam
Verbal test
E learning or testing
Case studies
Written documents e.g. suitability reports
Validation method - Written tests - advantages & disadvantages
Advantages
Standard method of testing knowledge
Objective
Results can be compared to the standard
Will show whether there has been improvement if tested before and after training
Written evidence
Disadvantages
Not everyone responds well to the pressure of tests
Prep work to prepare questions
Time required for marking
Validation method - Case studies - advantages & disadvantages
Advantages
Tests the application of knowledge
Written record of learning
Disadvantages
Can be time consuming to write and mark
Validation method - Computer based tests - advantages & disadvantages
Advantages
Standard test can be used for all
Programme will usually mark
Disadvantages
Limited in that only multiple choice questions can be asked
Need hardware and software that may not be available to everyone
Validation method - Workplace observation - advantages & disadvantages
Advantages
Can assess both knowledge and skills
Can validate transfer of learning to the job
Training needs can be identified and addressed quickly
Builds relationship between manager and individual
Real life
Disadvantages
Time consuming
Validation depends on skill of manager
You may not witness the behaviour you wish to address
Individual may not behave as they normally would as they know they are being observed
Time consuming
