Reskilling the workforce ensures that employees are not just reactive but proactive in addressing the ever-evolving industry landscape. Continuous learning cultures empower employees to adapt swiftly to changes, anticipate future trends, and align their skills with the industry's dynamic demands, enabling organizations to maintain their competitive edge and drive innovation.

Through this blog, we will discuss the training and reskilling challenges that persist in the BFSI industry and then explore how Tenneo LMS can help overcome these challenges to ensure seamless success for BFSI organizations.  

Training and Reskilling Challenges for BFSI Industry

With the rapid pace at which the BFSI industry is evolving, the need for consistent employee training and reskilling is apparent. While there are various employee reskilling priorities for the BFSI sector, there is a great emphasis on linking learning with employee performance to make training matter for employees. The lack of an intuitive learning platform can prove to be a hurdle in effectively upskilling employees and empowering them towards seamless success. Here are some key challenges that arise while reskilling BFSI employees:

• Constantly Evolving Compliance Regulations 
  The ever-evolving compliance landscape poses a significant challenge in reskilling BFSI employees. Without a robust learning platform capable of rapid content updates and real-time analysis, organizations struggle to keep their workforce updated. This may result in non-compliance, potentially exposing the organization to legal risks. 
• Continuous Technological Advancements 
  The absence of a comprehensive and intuitive learning platform that offers updated modules on new tech trends inhibits employees from acquiring the necessary skills. This creates a gap between the skill sets required and those possessed by employees, compromising the organization's adaptability to technological shifts.

• Widening Gap between Learning and Performance 
  The challenge of correlating learning with actual performance persists in BFSI organizations. A lack of a robust learning platform that measures and links training outcomes to employee performance metrics hampers the establishment of this correlation. Without this link, employees may not perceive the direct impact of their training on their key performance indicators (KPIs), leading to a disconnection between learning initiatives and their professional growth. 
• Poor Skill Retention and Application 
  The challenge of skill retention and application arises due to the absence of a comprehensive learning platform that not only provides training but also reinforces and allows for the application of acquired skills in real-time scenarios. Without a platform that offers continuous reinforcement and practical application, employees might struggle to retain and apply the newly acquired skills in their roles effectively. 
• Lack of Customization and Adaptability 
  The lack of a robust, intuitive learning platform capable of offering personalized learning paths further challenges reskilling efforts. A platform that fails to adapt to individual learning needs and preferences inhibits the customization required to address specific skill gaps. Without this adaptability, employees may not engage optimally with the training material, affecting the overall success of the reskilling program.

Addressing Training Challenges with Tenneo LMS

AI-powered upskilling is the future of employee learning. Tenneo LMS is an intuitive learning platform. It evolves with your evolving learning needs. Features like AI-driven learning, KPI-based training, training need analysis, and timely learning recommendations make it a must-have learning platform for BFSI organizations looking to achieve seamless success. Tenneo LMS deploys various mechanisms to empower the BFSI workforce to overcome various training challenges.

• Adapting to Evolving Compliance Regulations 
  Tenneo LMS offers a robust learning platform that enables you to promptly update training content in response to evolving compliance regulations. Its agility in content updates ensures that employees have access to the latest regulatory information, enabling BFSI organizations to maintain compliance while efficiently keeping their workforce updated. 
• Tailored Expert-built Bundles  
  Tenneo LMS stands out by providing a head start for organizations, offering a pre-configured system tailored to suit specific industries and departments. From Day 1, BFSI organizations can access a range of more than 15 expert-built bundles, each meticulously crafted by industry specialists.

• AI-driven Learning to Keep up with the Change
  Tenneo LMS employs cutting-edge technology to make learning matter. With various AI and ML-based features in the platform, the system brings automation, ease of use, analysis, and pattern recognition to the learning process. BFSI organizations can leverage features like AI-based video assessments, NLP search, and ML-based learning suggestions to enhance the overall learning experience and upskill employees effectively.
• Linking Learning with Performance 
  Tenneo LMS is KPI-driven. It emphasizes the correlation between learning and performance by offering features that measure and link training outcomes to employee performance metrics. It offers an automated rule engine that will help you link measurable KPIs with learning actions and outcomes. This bridge reinforces the relevance of training to employees' KPIs, with a direct understanding of how learning directly impacts their professional growth and success. 
• Reinforcement and Application of Skills 
  Tenneo LMS deploys AI capabilities to intuitively assess learner progress and trigger KPI-based training suggestions to reinforce topics where the learner needs some improvement. The learning platform supports skill retention and application by providing a mechanism that allows for continuous reinforcement and real-time application of newly acquired skills. Through interactive assessments, scenario-based learning, and practical application exercises, employees can immediately apply what they've learned in their roles. 
• Personalized Learning Paths and Adaptability 
  Tenneo LMS offers customizable and adaptive learning paths, catering to individual learning needs and preferences. This ensures that employees engage optimally with the training material. By adapting to different learning styles, it maximizes the effectiveness of the reskilling program.

Conclusion

Tenneo LMS equips BFSI employees to adapt and thrive within this fast-paced industry. It not only bridges the skills gap but also establishes a direct correlation between training outcomes and employee performance. Ultimately, implementing Tenneo LMS empowers BFSI organizations to maintain a competitive edge, foster innovation, and adeptly navigate the ever-evolving landscape of the BFSI industry.

If you wish to revamp your employee training mechanism, get in touch with our LearnTech experts now!