Page 17 - BANKING FINANCE MARCH 2024

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develop the necessary skills to perform their roles effectively. generation staffs and both of them need different sets
Learning and development in banking aim to build a skilled of learning avenues. Learning and development
and adaptable workforce, enhance customer service, ensure department make it sure that different methodologies
regulatory compliance, foster innovation, and drive need to be adopted by the facilitator to facilitate them.
organizational success in a constant evolving industry. It
6. Evaluation of training: Evaluation of training is crucial
contributes to the growth and professional development of
to assess its impact, to identify the areas of
employees while enabling banks to meet the changing needs
improvement for further implementation in next
of their customers and the market.
training. It is the role of learning and development
department to evaluate the training outcomes by
There are many importance of Learning and Development adopting the right evaluation method like pre and post
in Banking which is intangible and inseparable in nature but assessment, surveys and questionnaire, monitoring
shows its significant influence in both quantitative and short term and long term impact etc. While evaluating
qualitative business. Some of the important role of Learning it is important to note that the evaluation process
and Development are listed below: should be designed and implemented as per alignment
1. Identification of Skill Gap: The main function of of the training objectives and organizational
Learning and Development is to find the skill gap in the
requirements. The evaluation should be a continuous
employees. It is very crucial for effective learning and
and ongoing process, allowing for adjustments and
development strategies. The team learning and
improvements in future training programs based on the
development identifies the skill gap of the employees
evaluation results.
in the banking through various ways like by seeing
performance assessment, Audit remarks, customers
feedback, employees' feedback, latest changes and Importance of Learning and Development:
technological advancement in the processes etc. Learning and Development is very important and crucial for
the banks as it is changing fast with every passing day. The
2. Training Need Analysis: Once the identification of skill evolution of banking operational processes form manual to
gap is done, the need of training comes in picture. automation itself shows the requirement of learning and
Training Need analysis is a systematic process of development of employees. There are many importance of
identifying gaps in knowledge, skills and competencies
learning and development in which some are discussed
within an organisation. In this process of the purpose
below:
and objective of training is properly outlined and Improve Technical Skills: Training programs focus on
accordingly the training plan is made for different sets
equipping employees with the technical skills required
of employees. It helps the bank in prioritizing the to navigate banking operations in the digital age. It
training needs and developing the targeted training includes training on digital banking platforms, data
program for identified segment
analytics, cybersecurity, risk management, regulatory
3. Designing of Training Program: Designing of a training compliance, and financial products and services.
program is one of the most important roles of Learning
and development department. While designing a
training program It should be ensured that the program
is as per identified needs of the target audience and the
content of the training program is engaging and based
on practical application.
4. Arrangement of resources: Arranging right resources
and resource person at right time for right program is
very essential to make the learning more effective and
practical for the participants. It creates interest in the
participants and they become more participative.
5. Fixing Different Methodologies of Learning: Banking
has different sets of employees, from tech-savvy to old

24 | 2024 | MARCH | BANKING FINANCE