A career as a next-generation bank leader offers opportunities in technology, digital marketing, customer relationship management, cybersecurity and more. As the banking industry evolves, your leaders must also adapt.
Think about it, almost every aspect of a leader’s world has changed over the last few years. The way we lead and train needs to change too.
Financial institutions have had to find a new way to reach learners. In a lot of cases, in-person training classes have been replaced with compliance training webinars. But does this new training vehicle make the same impact as in-person training?
With over 40 years of experience, we’ve pulled together a list of why we believe webinars enhance and keep your compliance training programs engaging and current.
Next Generation Bank Leaders Need to Lead Differently Because Workforce is Changing
With Millennials making up a majority of the workforce, it’s important to note that typically millennials have a high expectation of how their companies should conduct business and what they stand for. Understanding this and adapting your leadership style to support this will help build a forward-thinking, nurturing, and inclusive workplace.
Tips on How to Effectively Develop the Next Generation of Bank Leaders
Give Workers a Voice
Establishing employee engagement committees that meet regularly can provide your leaders with necessary feedback when reviewing company policies. A next-generation banking leader will take time to speak with employees. They make a point of listening to their employees and do this because they know it’s the key to reducing turnover.
Next Generation Bank Leaders Embrace Tech
With all the new fintech available on the market, the next generation of bank leaders needs to lead and coach their clients to adopt new tech.
According to a Deloitte report, 57% of millennials surveyed would change their bank relationship if another firm offered a better technology platform. Ironically, at the same time, the report showed that 84% of millennials seek financial advice (and knowledge).
Similarly, next-generation leaders are digital natives accustomed to (and even enjoy) eLearning. Attending a webinar or accessing an eLearning course is a comfortable learning format. In fact, technological advancements have made eLearning easier than ever before. Participants can attend from anywhere they have an internet connection — computer or phone, at home or in the office.
Additionally, training admins can now more easily track participation with training webinars. Rather than having paper sign-in sheets on clipboards, which need to be manually added to your LMS, eLearning and training webinars track participation digitally. With just a click, you can track who attended.
Build Career Paths and Ladders
Provide an outline to training programs by career track to provide clarity on what is required to reach the next level of leadership. Every team member should have a plan for self-development, department development, and ultimately how the overall business goals will be met.
Millennials seek learning opportunities differently than older generations. They seek continual ways to improve their work and make a big impact.
Enable Access to Unique and Meaningful Training
Millennials seek learning opportunities differently than older generations. They seek continual ways to improve their work and make a big impact. By providing them on-demand and high-quality training content, millennials control which skills they want to work on and which ones fit into their day-to-day. This method will fit seamlessly into the work your next generation leader is already doing — getting them ready for the future.
Enable Your Current Leaders to Be Good Coaches
Empower your teams to empower their teams. By investing in your current leader’s coaching skills, they can, in turn, help develop the next generation of bank leaders. Every interaction with their own direct supervisor, an employee in the training department or a member of senior leadership could change into an opportunity to develop leadership skills and strategic thinking.
Close the Experience Gap
Leaders who are confident and have experience develop these skills over time. To close that gap, you must frequently engage all potential next-generation bank leaders to be involved in institution problem-solving. Becoming an experienced leader comes with just that, experience.
The Future
Since COVID-19, financial institutions have had to innovate and adapt to compliance training. Adding variety to your training mix, including webinars, can keep your employees engaged and compliant.
At BankWebinars.com, industry experts from all over the country share their expertise and knowledge. Compliance training webinar attendees hear firsthand from industry experts and gurus on targeted, relevant and timely topics.
The key to your institutional success is to develop your next generational bank leaders to be prepared for the future of banking. Provide them the training and coaching today that they will need in the future.
