Over the last several years, the overall automotive industry has and continues to change rapidly, requiring a greater reliance on digital technology. This is particularly the case on the financing side of the industry. Competition and share erosion is increasing as new FinTech companies are regularly launched.
The company’s strategic plan for protecting and growing its position and market share includes becoming more efficient and effective across all its products and services. The strategic plan calls for enabling multichannel digital delivery of their services and embracing digitization, data science, experimentation, and more agile product development. To make this transition they recognize their employee training methods and programs must be more focused, effective, and efficient.
The Covid-19 global pandemic has put the spotlight on the opportunities and challenges for financial services and on the need to embrace training programs that will help the company’s product development professionals quickly adapt to new ways of working.
With pandemic protocols in place and over 2,000 product development professionals not collocated and scattered across the globe, there are added obstacles to the desired change, yet the need for change remains urgent.
The company’s goal is to leverage recent advancements in digital learning platforms to reach the global team effectively to improve the performance of their employee teams and deliver value to customers faster.
IMERSHEN Solution – Creating High Performing Teams
The IMERSHEN Solution is a digital learning platform that is uniquely tailored to both the stated needs, goals, and training environment for each client and to the individual learning needs of each employee. This is accomplished through an innovative blend of today’s highly interactive technologies that creates tools, a learning environment, and a personalized coaching experience that allows staff to learn when, where, and how is best for them.
For this company, employees who are not at the same facility or even in the same time zone will be able to train any time, any place, on any device. Employees can train in large or small groups or individually depending on their own “best learning style.” As questions arise, they can be answered directly, on-demand through the technology. One employee may need less time or have fewer questions than another employee. One may learn better visually while another learns better orally. One may need more hands-on time than another or feel more comfortable in a group setting vs. learning on their own. One may need multiple small bites of information while another can take in a lot of information at once. One employee may need to role-play customer service while another needs to visualize how to set-up and manage digital accounts.
These learning differences can be handled seamlessly through the IMERSHEN Solution. And by personalizing the learning experience to the needs of the individual’s role in the company and to their own learning style, training will be more effective while still complete and thorough.
IMERSHEN delivers this super-charged training experience by blending four key technologies:
- Chatbot: Imagine a conversation with a chatbot (similar to Alexa or Siri) via text or voice that provides a response to an employee’s question at any hour of the day or night. The Chatbot can answer the specific question asked on-demand and also instantly deliver a micro-learning unit about the subject of the question to improve the employee’s depth of understanding and capabilities.
- Artificial Intelligence (AI) Personalization: Much as Netflix or TikTok learns a user’s preferences and needs, IMERSHEN Solution’s AI Personalization module learns the training content needed by the individual. Based on their role in the company, learning style, topics of interest, and training and industry practices, the employee will be provided with high-quality, concise training content that is targeted to their needs and style of learning. As the employee learns, content is expanded automatically to enhance their knowledge.
- Augmented Reality (AR): Virtual and / or Augmented Reality have been used to simulate real-world scenarios for some time. For instance, a pilot first learns to fly by using a flight simulator. Today’s technology delivers AR in small, mobile, easily accessible units such as goggles and glasses. AR is highly effective in training through imagery and instruction that can be tailored to company and individual needs.
- Serious Games: Gaming technology isn’t just for gaming anymore. It can be very effective when it is for designed for learning and practicing a skill since many people in today’s workforce are comfortable and familiar with using gaming technology. This play-based experience can be applied to a variety of learning points including product and project planning and deployment, communications and collaborating, as well as too specific skills and assignments. By designing training as “gaming,” employees are likely to see training as fun and as something they want to do rather than have to do.