Why E-learning for Finance?

As many of us know the importance of training in preserving high standards of customer service, mitigating risks, and helping organizations in achieving their strategic goals. This is why constant training is necessary for the growth of employees, especially in the finance sector.

The new technology is the driving factor for the substantial changes in most sectors, as well as finance. Then again, even after all the advancements due to technological inspiration, the highly skilled employees remain a critical part of the success of this sector. So, it is vital to uphold, upgrade, progress, and enrich the skill set of employees.

There is a training requirement for all people, even the ones who have been in this sector for 15 years and also the ones who are just stepping into it. Due to the regulations set by the State Bank of Pakistan, companies have to follow the compliance protocols and adhere to the guidelines. Regular updates of knowledge and learning are important, and training is the fundamental element that ensures the employees’ understanding of the current laws and regulations and how will they operate within them.

As we now know, that training has great importance in the finance sector, so how you deliver it, is also vital. Don’t look for the options anymore, because e-learning is one of the options, but you would ask, why, why should we use e-learning for training?

So, here are some of the benefits that e-learning offers companies in the finance sector.

Resilience

The finance sector requires resilience in terms of time pressure, tight schedules, and demanding work but it is also a fulfilling and highly rewarding sector to work in, and fitting all these features into a training course might be challenging. But, if you talk about e-learning courses, they don’t require to be completed at a specific time and date, it is self-paced. Now, you can pick and choose the best scheduled time for your learning without worrying about deadlines which also increases the learner’s experience.

Cost Efficiency

If we see the difference between traditional classroom training and e-learning, we can see clearly that the cost of traveling, having a room, accommodation, and many other such expenses are reduced to none. The number of people in a classroom learning session is limited as to the venue and the training capacity of the trainer VS. e-learning which has no such restrictions.

Return On Investment

The best approach is to draw a comparison between the ROI and cost of new training for your employees, if ROI is higher than the cost only then you should invest. E-learning courses that are designed professionally have higher success and knowledge retention rates, not least because of the two pointers below.

• Stability?
• Engagement in E-Learning?

Stability

The instructor-led training can have discrepancies in it, which can depend on the groups present for the training, the environment, personal reasons, and many more VS. e-learning, everyone has the same training, groups might be different but it would not have an impact of the content and delivery of the training which promotes stability in results across the organization.

Engagement in E-learning

There are many different tools used to make the e-learning modules engaging and fun for the learners because it gets the best results. These features boost engagement and interest which includes scenarios, activities, gamified elements, videos, interactive learning with music, and animations.

Futuristic

Continuous changes are being made due to the dynamic and competitive nature of the finance sector. When there is a technological change, it has a trickle-down effect on the market, competitors, regulations, etc., and having an upper hand is always essential but hard to keep in the training area. An example of it could be seen by taking a look at the training calendars and manuals that become outdated just after they are printed and circulated. Verses e-learning where updating process is quite easy and could be done whenever one wishes to and it is visible to all immediately after the changes.

Security and Confidentiality

For the finance sector, security and confidentiality matters a lot due to the high public stakes involved in it, it pertains to customer data, asset security, protection of intellectual property, and also to?guarantee competitive edge. The same security systems and protocols that are protecting your IT networks can also protect the e-learning courses that you have created. An LMS provider also gives that security feature to you that is in-built into that platform.

Conclusion

As an organization operating in the finance sector, you need to provide training to your staff. With the benefits outlined above, e-learning is an important tool that will enhance your training activities and help to improve your business and the service that is offered to the customers. E-learning will help you with the current, as well as future challenges, and it will better equip your company to stay ahead of the competition.

Pakistan Society for Training and Development offers e-learning solutions to its clients and has been delivering high-quality modules for their learning needs. If you have your learning needs identified and want to develop a highly engaging and interactive e-module, you can contact the team.