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Training Smarter, For A Reason
Andy Zavoina, BOL Guru
You have undoubtedly seen the audit reports from internal and external auditors and perhaps even your examiner that found a problem caused by staff. It may have been severe or minor but "training" was one of the recommended steps under corrective action required. This recommendation can be made so often that one becomes complacent because of it. It has little meaning and no sense of urgency. Let's examine "training" as a means to more effectively improve work habits, production and success in the workplace.
First and foremost, let's not make training so routine that it is routine and isn't taken seriously. Staff needs to understand that they are not in a training session to attend a training session. They are there to learn! The former is much too often the case.
Depending on the severity of the problem being addressed, an introduction by a member of management can drive the point home that this is serious business. It is retained income, it is benefits and it isn't to be taken lightly. During the training sessions, explain why they are attending by showing real world examples of what has been done wrong, and right. This isn't a blame game or finger pointing exercise; it is the business of banking. We are in the business of doing things right and balancing at the end of the day. "Close only counts in horseshoes and hand grenades" we used to say as kids. Our customers expect us to do it right or make it right. Our board expects only the former.
In addition to training as a means of correcting problems there are additional reasons we train. Basic job skills are a requirement. Basic training begins when an employee is learning a new skill. They may have been working there one day or one year. If the job function is new to them, they need basic training. You should also offer intermediate and upper level training. This is one way to groom employees for upward mobility and to help determine what each person has to offer you, so that you may offer them more.
Intermediate and upper level training may come in the form of cross-training. If you have a policy requiring an employee's absence from their job this is an opportune time to cross-train. Don't require that they use all two weeks of their vacation at one time so you can meet this internal "vacation" requirement. Offer them the opportunity to learn a new position for the period they are required to be off.
Management must always consider sustainable performance of the institution. The loss of a key employee for any reason can have a snowballing effect in one and more departments. This employee had a skillset, experience and may have been the reason a team atmosphere existed and succeeded. The cost of recruiting and replacing that employee can be high, and more so if the replacement is brought in from outside the institution. Sometimes you want new blood and a new way of thinking. But sometimes you want someone who understands how you have been successful in the past, as well as your future goals and objectives. Existing employees already know your corporate culture and your customers. The choice is yours, based on your needs. Choice is good. With proper internal training and your knowledge of your staff's skillset, the replacement decision can be made easier.
Train and retrain is often the corporate mantra. But successful training holds the attention of the student. It engages them. That isn't easy to do in many cases, or in all cases. But when possible, make it happen. Interested employees will learn more and perform better. This means you target the training to a specific group or even a single person. This training could be in the classroom or on-the-job. Specific objectives should be conveyed to the students so they understand the desired outcome. And when this outcome is achieved, consider remuneration. This could be in the form of a one-time payment, gift or incentive such as a day off or a day off with a hotel reservation attached. It could also be a long term incentive such as a pay raise or points toward a pay raise when combined with their annual evaluation. Similarly, if an employee is identified as not training well, and perhaps is the known cause of a problem, points should be deducted. Counter-productive employees need to be corrected or released so that each of you can be successful.
Knowing how to do a good job, doing a good job, and being recognized for it in any of several ways leads to increased satisfaction on the part of the employee. Satisfied employees have a vested interest in the success of the institution. They have better knowledge of the various risks that exist when a job is done wrong, whether it be reputational, regulatory or financial. They try to mitigate the risk and they will be more successful at it. This attitude leads to longevity with the institution and that is a sign of sound leadership. It will be reflected in the bottom line. And at the end of the day, that is a key measuring tool.
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First published on BankersOnline.com 09/07/06
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