The banking, financial services, and insurance (BFSI) industry is one of the most important sectors in the global economy. The role of employee training and development (L&D) teams in the BFSI industry has become crucial. This blog will explore how corporate L&D teams are impacting working professionals globally in the BFSI industry through online course platforms, e-learning websites, LMS software, and other training methods.
Online course platforms and e-learning websites have become increasingly popular among corporate L&D teams in the BFSI industry. These platforms provide employees with access to a vast range of courses and training materials, including compliance training, risk management, and customer service. According to a report by Research And Markets, the global e-learning market in the BFSI sector is expected to grow at a CAGR of 16.3% between 2021 and 2026.
In addition to online course platforms and e-learning websites, LMS software has also become an essential tool for corporate L&D teams in the BFSI industry. LMS software provides organizations with a centralized platform to manage and deliver training programs to employees, enabling them to track their progress and measure the impact of training programs. According to a report by Technavio, the global LMS market in the BFSI sector is expected to grow at a CAGR of over 22% between 2020 and 2024.
Enterprise Learning Management is another area where corporate L&D teams are having a significant impact on working professionals globally. Enterprise learning management refers to the process of aligning learning and development initiatives with an organization's overall business strategy. L&D teams are now working closely with senior management to identify key areas where training and development can support business objectives. This ensures that L&D programs are not only improving employee skills but also contributing to the organization's bottom line.
According to a survey by Deloitte, 65% of BFSI companies consider employee training and development to be a critical priority. The impact of corporate L&D teams on working professionals in the BFSI industry is also reflected in the positive impact on employee engagement and retention. According to a report by PwC, employees who receive training and development opportunities are more likely to be engaged and motivated, leading to improved productivity and job satisfaction. This, in turn, can help organizations reduce staff turnover and improve customer satisfaction.
In conclusion, corporate L&D teams are impacting working professionals globally in the BFSI industry through the use of online course platforms, e-learning websites, LMS software, and other training methods. As the demand for employee training and development continues to grow, the role of L&D teams in the BFSI industry has become increasingly important. By investing in employee training and development, organizations can improve employee engagement and retention, increase productivity, and ultimately achieve long-term success.
Introducing Skills Caravan : Skills Caravan is a one-stop L&D solution platform with the main focus on enabling the Learning & Development process in the BFSI industry. The platform focuses on the hybrid learning process where company Niche content is integrated with eLibrary (BFSI library) and Live/Classroom training. Skills Caravan provides you with 100% onboarding and engagement support with Content from the "Best Content Creators" of the world at the most reasonable prices. It automates the in-house Content creation using AI solutions.