CBE and The i-Capital Africa Institute Agree to Transform Workplace L&D.
The i-Capital Africa Institute
... in the business of transforming people ...
Commercial Bank of Ethiopia (CBE) | University of Banking in the Making
The giant State Bank of Ethiopia, CBE, reached an agreement with the i-Capital to develop capacity and establish a groundbreaking workplace learning ecosystem through pilot implementation of the most impactful workplace learning technique, popularly known as Structured On-the-Job Training (S-OJT).
The i-Capital Africa Institute is the first to introduce and the only provider of S-OJT capacity development and implementation support in Ethiopia.
S-OJT is defined as “the planned process of developing competence on units of work by having an experienced employee train a novice employee at the work setting or a location that closely resembles the work setting."?
With S-OJT, CBE will be able to lay the key foundation for its transition to the adoption of 70:20:10 Model for Learning & Development. According to the?70:20:10 model, employees learn 70% of everything they know through on-the-job experiences, and 20% by interacting with co-workers while the 10% of what employees learn happens through structured classroom training outside of work.
The National Bank of Ethiopia requires every financial institution in Ethiopia to invest at least 2% its annual operational budget in L&D. However, our assessment shows that more than 90% of this investment is either wasted or misplaced due to lack of 70:20:10 perspective.
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With the implementation of S-OJT, CBE will be able to get the capacity and the tools that will enable the bank systematically structure its workplace learning. This will essentially constitute a foundation for the 70% as source of employees learning.?
With successful implementation of S-OJT and adoption of the 70:20:10 Model of L&D within the next few years, CBE will be able to position itself as the University of Banking in Ethiopia.?
As a firm that is “… in the business of transforming people …” , we are very excited about this partnership and the opportunities for contribution. We are grateful to the CBE leadership for the trust.