Last time I talked about the interaction between T&C and L&D and how we might allow for the tracking of minimum benchmark T&C standards whilst at the same time allowing for a higher degree of flexibility in order to cater for individual needs. I wanted to continue that theme by examining the reasons why this increased flexibility will be important.
If you've ever tried to read the FSA handbook (not recommended), an examining body’s study manual, sat through a 90-slide PowerPoint presentation, or been made to watch a lengthy training video then you have experienced what is known as classic linear learning. The experience was pre-determined by the author, and the trainee (you) simply had to go along with it.
Learning of this nature is not interactive or experiential but it can be used as a part of an overall approach. Classic linear learning is often used to introduce new knowledge or to refresh pre-existing knowledge (think about industry professional exams or competence testing), but in order to be effective it needs good content and a motivated learner.
We have become pretty good at supporting this type of learning in our sector. Individuals can attend face to face training, they can access supporting materials from examining bodies and there are technology solutions available to provide managed learning tracks and practice exam questions. In fact, the current focus for Financial Services training is, in the main concentrated solely on helping advisers towards the demonstration of new or previously acquired knowledge via a level 4 qualification or structured CPD gap filling.
This focus is of course necessary but completely ignores the fact that changing advice models and business processes will bring about the need for new skills and changes to behaviour. And here’s the issue: linear learning does not teach people how to do their job.
Skills are developed by “doing” and are truly expanded by trial and error. In terms of support for skills development, what you have been able to access as an adviser in recent years has been a bit more of a lottery. With a heavy emphasis on regulatory requirements to demonstrate knowledge, good skills development training has been sadly lacking. But this will have to change. The industry is undergoing unprecedented transformation and unless we take a more strategic approach to looking at skills and knowledge gaps across our businesses BEYOND the Retail Distribution Review we could be heading for trouble.
And so we are back to the requirement to be able to look at an adviser in a more holistic way in order to help them to achieve their full potential and maximise the value to the firm. Firms need to be able to access a raft of information including adviser activity data, performance, business mix, case quality, courses attended, knowledge testing, 1:1's, observations etc because it ALL contributes to measuring, monitoring and extending competence.
If we accept that skills development comes about by “doing” then the mechanisms that we put in place to evidence what is being done and how that fits into the overall picture of someone’s level of competence must be an integral part of our infrastructure. The power to achieve this via one single technology platform will become more attractive as firms begin to see that the ability to manage front office and back office requirements as well as managing learning & development and compliance in a totally integrated manner is no longer a wish but a business choice.
Alison Young - 25th March 2010