The current technological dynamism calls on employees to receive training regularly to keep them at par with the competitors. The training should involve a reliable tracking system to monitor the operations. Moreover, the system should allow the management to consult and analyze the data as per the needs. The E-learning system will be helpful in managing reports, ensuring productivity and easy assessment of the employees’ career progress.
Current Business Situation
Butterfield Bank is an international organization with various branches in the United Kingdom, Canada and Singapore. Over the recent years, it has experienced a gradual loss of customers due to lack of professionalism in service delivery by the bank’s employees.
The mode of training requires employees who live in the suburbs to travel to Bermuda to attend the training sessions. Their bank caters for their transport costs; which amount to around 17% of the total training budget. Figure 1.1 A shows the expected expenses.
The bank’s management states that there is a need to train employees in various fields to address the existing knowledge gaps and promote validity in its service delivery to the customers.
E-Learning and Butterfield Bank
E-Learning is a platform which firms use to impart skills and empower employees to cope with emerging trends in the industry. Modes of E- Learning include correspondence learning and virtual classrooms. An E-learning program is essential to keep bank’s employees updated on the current trends in the banking industry. Research conducted by the bank’s officials label the implementation of E-learning as a way of influencing the development of Butterfield bank. Similarly, it states the negative sides of the approach. The following are the findings of the research:
Advantages of implementing the E-Learning program
E-learning is essential in the expansion of a firm because it equips employees with skills on how to deliver services effectively and at a minimal cost. Essentially, it is cost and time effective because one can take the program remotely. In addition, it is cheaper than regular learning where one has to attend lessons physically. E-Learning is flexible because it suits the learning requirements of an individual due to available range of learning options. In addition, it allows individuals to learn without taking a break from their jobs.
Disadvantages of Implementing E-learning
Although E-learning is the new face of in-service training, it fails to address the learner’s issues personally. There is minimal if any interaction between instructors and learners. Similarly, there is little or no time for practical learning to allow learners find solutions with the instructor’s guidance.
Critical Performance Areas
The following are three key areas addressed by the memo:
- insufficient product knowledge
- Inadequate knowledge regulation
- Poor client services
The Bank’s CEO believes that employees do not regard E-learning as a priority considering the high travelling expenses. The bank plans to train its overseas staff to promote harmony in its service delivery. E-learning may initiate changes in a firm through providing critical guidelines. Therefore, the bank should provide internet access services to all the employees to facilitate learning and sharing of vital information.
Potential Risks, Obstacles or Resistance
The program might experience challenges in the implementation process. Employees may resist it because they are used to the old ways. Similarly, some may feel that the program interferes with their schedules. The firm may lose a fortune in the training if the employees do not grasp the intended concepts. Some employees may have little knowledge of computer technology; thus, slowing down the program.
Butterfield bank has various hazard mitigation strategies to cope with challenges that may come with the implementation of the proposed program. It encourages its employees to take up a short computer applications course to help them operate computers and maintain safety.
E-learning is the latest development in many aspects of the banking industry. Many of the banking services have adopted an online platform to help clients access the services remotely. Additionally, they have partnered with communication service providers to allow customers access the services through their mobile phones.