MDA Training

Tag: Virtual training

  • Remote Onboarding: Best Practices for Welcoming and Integrating New Hires in a Virtual World 

    Remote Onboarding: Best Practices for Welcoming and Integrating New Hires in a Virtual World 

    In today’s evolving professional landscape, remote work has become a significant norm, accelerated further by global events. As organisations embrace this paradigm, the process of integrating new hires has also undergone a transformation. Traditional in-person onboarding has shifted towards a digital approach, requiring meticulous planning and execution to ensure a seamless and engaging experience for new employees. This blog delves into the best practices for remote onboarding, emphasising the use of technology, simulation-based training, and maintaining a strong sense of connection. 

    Embracing Technology for Seamless Integration

    1. Virtual Welcome Packets:

    Remote Onboarding

    The first step in the journey of onboarding remote employees begins with a warm and informative welcome. Traditional welcome packets, once in physical form, are now evolving into digital versions, providing an engaging introduction to the organisation. In this section, we explore the concept of virtual welcome packets and how they can set the tone for a new employee’s experience in a remote work environment. 

    1.1 Tailored Content: 

    Virtual welcome packets should be thoughtfully curated to suit the needs and expectations of new hires. Tailor the content to introduce your organisation’s values, culture, mission, and vision. Consider incorporating personalised messages from key executives or team members to provide a human touch. 

    1.2 Interactive Multimedia Elements: 

    Unlike physical welcome packets, digital versions can integrate interactive elements. Utilise multimedia such as videos, interactive infographics, clickable links, and animated presentations to make the welcome packet engaging and visually appealing. A video message from the CEO or a virtual tour of the workspace can offer a glimpse into the company’s identity and working environment. 

    1.3 In-depth Information: 

    Provide comprehensive information about the company’s history, organisational structure, teams, and departments. Include details about the company’s journey, major achievements, and notable projects. Make sure to cover the company’s goals and objectives for the future, giving new hires a clear understanding of what to expect and work towards. 

    1.4 Welcome Letter or Video: 

    Start the virtual welcome packet with a heartfelt welcome letter or video from the CEO or a senior leader. This personal touch sets a positive tone, making new hires feel valued and appreciated from the very beginning. The message should express excitement about the new hire joining the team and emphasise the importance of their role within the organisation. 

    1.5 Clear Onboarding Roadmap: 

    Outline a clear onboarding roadmap within the digital welcome packet. Provide a step-by-step guide of what the new hire can expect during the onboarding process, including training schedules, meetings, and important milestones. This roadmap helps in managing expectations and reducing anxiety associated with the unknown. 

    1.6 Accessible and Mobile-Friendly: 

    Ensure that the virtual welcome packet is easily accessible via various devices, including computers, tablets, and smartphones. Optimise the content to be mobile-friendly, allowing new hires to conveniently access and navigate through the packet at their convenience. 

    1.7 Encourage Engagement: 

    Incorporate interactive elements within the welcome packet to encourage engagement. Include links to company social media profiles, discussion forums, or platforms where new hires can interact with their peers or ask questions. An engaged new hire is more likely to feel connected to the organisation. 

    1.8 Personalised Touch: 

    Endeavour to personalise the welcome packet by tailoring sections to the specific role or department of the new hire. This personalization demonstrates that the organisation values individual contributions and understands the unique needs of its employees. 

    Virtual welcome packets represent the first digital handshake between an organisation and its new employees. When thoughtfully designed and executed, they set the stage for a successful remote onboarding experience, laying the foundation for a positive and lasting employer-employee relationship. 

    2. Interactive Onboarding Portals:

    Remote Onboarding

    In the realm of remote onboarding, an interactive onboarding portal stands as a vital tool for acclimating new hires to the organisation. This digital gateway hosts a treasure trove of resources, training modules, and communication channels that aid in the integration process. Let’s delve into the significance of interactive onboarding portals and how they can optimise the onboarding experience in a remote or hybrid work environment. 

    2.1 Centralised Hub of Information: 

    An interactive onboarding portal acts as a centralised repository of essential information, making it easily accessible to new hires. It provides a one-stop shop for all onboarding materials, company policies, procedural guidelines, and other pertinent documents. This centralization streamlines the onboarding process and ensures that new employees have the information they need at their fingertips. 

    2.2 Intuitive and User-Friendly Design: 

    Design the portal with a user-centric approach, making it intuitive and easy to navigate. Implement a clear menu structure, search functionality, and a visually appealing layout to enhance user experience. A well-designed interface encourages new hires to explore the portal and engage with the content more effectively. 

    2.3 Interactive Training Modules: 

    Incorporate interactive training modules within the portal to engage new hires in a dynamic learning experience. Utilise multimedia, quizzes, interactive videos, and gamification elements to enhance comprehension and retention. Interactive training modules make the onboarding process engaging and enjoyable, encouraging active participation and knowledge acquisition. 

    2.4 Progress Tracking and Checklists: 

    Integrate features that allow new hires to track their progress throughout the onboarding journey. Utilise checklists or progress bars to showcase completed tasks and upcoming milestones. This provides a sense of accomplishment and keeps new employees informed about their onboarding status. 

    2.5 Communication Channels: 

    Incorporate communication channels such as discussion forums, chat functionalities, or direct messaging within the portal. These channels facilitate interaction and collaboration among new hires, allowing them to connect, seek advice, and share experiences. Engaging in conversations helps build a sense of community, even in a virtual setting. 

    2.6 Onboarding Timeline and Schedules: 

    Present a clear onboarding timeline and schedule within the portal. Outline key activities, training sessions, and important meetings to help new hires plan their days effectively. Clarity regarding what to expect and when fosters a sense of structure and reduces uncertainty. 

    2.7 Integration with HR Systems: 

    Integrate the onboarding portal with existing HR systems and tools. This seamless integration enables new hires to complete paperwork, submit required documents, and access HR services directly through the portal. Streamlining administrative tasks enhances efficiency and allows new employees to focus on their integration into the organisation. 

    2.8 Continuous Feedback and Surveys: 

    Implement mechanisms for gathering continuous feedback from new hires about their onboarding experience. Conduct surveys or feedback forms within the portal to capture insights and suggestions for improvement. Iteratively using this feedback helps optimise the onboarding process and ensures it remains effective and relevant. 

    Interactive onboarding portals are powerful assets in the remote onboarding toolkit. They not only serve as a comprehensive source of information but also foster engagement, collaboration, and a smooth transition for new hires. By leveraging these portals effectively, organisations can set the stage for a successful onboarding experience, paving the way for new employees to thrive in a virtual work environment. 

    3. Video Conferencing for Personal Connections:

    Remote Onboarding

    In an era of remote work and virtual interactions, video conferencing has emerged as a fundamental tool for establishing personal connections within teams. The ability to see and engage with colleagues face-to-face, albeit through a screen, adds a valuable human touch to remote interactions. In this segment, we explore the importance of video conferencing in remote onboarding, and how it can effectively foster personal connections and team cohesion. 

    3.1 Facilitating Face-to-Face Interactions: 

    Video conferencing allows for real-time, face-to-face interactions among team members, providing a sense of closeness and immediacy. It bridges the geographical gap, enabling employees from different locations to engage as if they were in the same room. Seeing facial expressions and body language enhances communication and understanding. 

    3.2 Virtual Introduction Meetings: 

    Schedule virtual introduction meetings via video conferencing to introduce new hires to their teams and other key stakeholders. This creates a direct and personal connection between the new employee and their colleagues, providing an opportunity for informal conversations and initial relationship building. 

    3.3 Interactive Onboarding Sessions: 

    Leverage video conferencing for interactive onboarding sessions. Conduct training, orientation, or workshops using this medium, allowing new hires to actively participate, ask questions, and clarify doubts in real time. Interactive sessions enhance engagement and knowledge retention. 

    3.4 Team Building and Social Events: 

    Organise virtual team building and social events using video conferencing. These events could range from virtual lunches to online games or themed gatherings. Such activities promote camaraderie, strengthen relationships, and create a sense of unity among team members, even in a remote setting. 

    3.5 Regular Check-Ins and One-on-Ones: 

    Schedule regular video check-ins and one-on-one meetings between new hires and their managers. These sessions provide an opportunity to discuss progress, address concerns, and build a rapport. Personalised attention and focused discussions foster a sense of support and mentorship. 

    3.6 Cross-Departmental Collaboration: 

    Encourage cross-departmental collaboration through video conferencing. Arrange meetings that involve members from various teams to discuss projects or initiatives. This practice promotes a holistic understanding of the organisation and encourages collaboration across different functional areas. 

    3.7 Virtual Coffee Chats: 

    Initiate virtual coffee chats or casual catch-ups via video conferencing. Encourage team members to connect informally, share experiences, and discuss non-work-related topics. These interactions mimic the spontaneity of office conversations and help in building personal connections. 

    3.8 Recorded Training and Learning Sessions: 

    Record training and learning sessions conducted via video conferencing. This allows new hires to revisit and review the content at their own pace, reinforcing their understanding and knowledge. Recorded sessions also benefit employees in different time zones. 

    Video conferencing has revolutionised the way teams interact and collaborate in the remote work landscape. By utilising this tool effectively in onboarding processes, organisations can create a sense of unity, enhance communication, and foster meaningful personal connections among team members. As technology continues to advance, leveraging video conferencing in creative and innovative ways will undoubtedly play a crucial role in shaping the future of remote work and employee engagement. 

    4. e-Learning Platforms:

    Remote Onboarding

    E-learning platforms have become pivotal in modern workforce development, especially in the context of remote onboarding. These platforms offer a structured and flexible approach to learning, allowing new hires to access training materials, acquire essential skills, and familiarise themselves with organisational processes, all within a virtual environment. In this section, we explore the significance of e-learning platforms in remote onboarding and how they contribute to continuous growth within an organisation. 

    4.1 Accessible Learning Anytime, Anywhere: 

    One of the key advantages of e-learning platforms is their accessibility. New hires can access training materials and modules from anywhere, at any time, using various devices such as laptops, tablets, or smartphones. This flexibility is especially valuable in a remote work scenario, where employees might be spread across different geographical locations and time zones. 

    4.2 Customised Learning Paths: 

    E-learning platforms allow for the creation of customised learning paths tailored to the specific roles and responsibilities of new hires. These paths guide employees through a structured curriculum, ensuring that they acquire the necessary knowledge and skills relevant to their roles. This tailored approach enhances the efficiency and effectiveness of the onboarding process. 

    4.3 Diverse Learning Resources: 

    E-learning platforms provide a rich array of learning resources, including videos, interactive modules, quizzes, assessments, webinars, and more. This diverse range of resources accommodates different learning styles and preferences, making the learning experience engaging and effective. 

    4.4 Interactive and Engaging Content: 

    Engagement is crucial in the learning process, and e-learning platforms excel in providing interactive and engaging content. Through gamification, simulations, and interactive exercises, these platforms keep learners actively involved, enhancing knowledge retention and application. 

    4.5 Real-Time Progress Tracking: 

    E-learning platforms offer features for tracking progress in real time. Managers and supervisors can monitor the progress of new hires, identify areas of improvement, and offer timely guidance and support. This tracking mechanism ensures that onboarding stays on schedule and aligns with organisational objectives. 

    4.6 Consistency in Training: 

    Standardising training materials and content across e-learning platforms ensures consistency in the onboarding process. All employees, regardless of location or position, receive the same quality and depth of training, fostering a unified understanding of the organisation’s policies, procedures, and values. 

    4.7 Cost-Effective Training Solution: 

    E-learning platforms often prove to be cost-effective solutions compared to traditional in-person training. They reduce expenses related to travel, accommodation, printed materials, and physical infrastructure. This cost-efficiency is particularly beneficial for organisations with a dispersed workforce. 

    4.8 Integration and Scalability: 

    E-learning platforms can integrate with existing HR systems, making it easier to manage onboarding processes and track employee progress within a centralised framework. Moreover, these platforms are scalable, accommodating the growth of the organisation and the evolving needs of its workforce. 

    E-learning platforms serve as catalysts for learning and growth, enabling organisations to seamlessly onboard new hires in remote or hybrid work settings. By leveraging these platforms effectively, organisations can ensure that new employees are equipped with the knowledge, skills, and resources they need to succeed in their roles, thus contributing to a more efficient and productive workforce. 

    Simulation-Based Training for Practical Learning

    Remote Onboarding

    1. Simulated Work Scenarios:

    Implement simulation-based training to familiarise new hires with their roles and responsibilities. Create simulated scenarios mirroring their day-to-day tasks, enabling hands-on learning in a risk-free environment.

    2. Interactive Case Studies:

    Present case studies or problem-solving challenges that mimic real-world issues. Encourage new hires to work collaboratively to propose solutions, fostering critical thinking and teamwork.

    3. Role-Specific Simulations:

    Tailor simulations to specific job roles within the organisation. Whether it’s customer service interactions or project management scenarios, these simulations provide a practical understanding of job expectations.

    4. Feedback and Improvement Loop:

    Incorporate feedback mechanisms within the simulations to help new hires understand their performance and areas for improvement. Continuous feedback ensures a dynamic learning experience and supports growth. 

    Fostering a Sense of Connection and Belonging

    Remote Onboarding

    1. Virtual Buddy System:

    Assign a ‘buddy’ or mentor to each new hire, providing guidance and a point of contact for questions. This personalised approach helps new employees integrate into the organisational culture and fosters a sense of belonging.

    2. Virtual Team Building Activities:

    Organise online team-building activities or workshops to promote interaction and collaboration. These could include virtual escape rooms, online trivia, or themed meetings that encourage participation and teamwork.

    3. Regular Check-ins:

    Establish a regular cadence of check-ins with managers and HR to gauge the new hire’s progress and address any concerns. Open lines of communication are essential for maintaining a strong sense of connection and support.

    4. Celebrating Milestones:

    Recognise and celebrate milestones achieved by new hires, such as project completions, successful training modules, or their first month with the organisation. Small gestures of acknowledgment go a long way in building morale and a sense of accomplishment. 

    What’s Next? 

    In summary, the transition towards remote and hybrid work setups calls for creative onboarding strategies. Emphasising the use of technology, simulation-based training, and giving priority to fostering connections and engagement are crucial for successful remote onboarding. Adhering to these effective approaches enables organisations to facilitate a smooth integration of new hires into the virtual work landscape, paving the way for a rewarding and enriching professional experience. 

    Remote Onboarding

    Explore how MDA Training can enhance your onboarding process by reaching out to MDA Trainers today 

  • How to build trust in a virtual team

    How to build trust in a virtual team

    The world of work is a continuously evolving environment, recently changing faster than ever before. As more organisations adopt a remote working policy, the employees who make up those organisations must adapt to being part of a virtual team.

    While there are a host of benefits to working at home for both the employee and the company, it can be difficult for individuals to make those crucial connections with their co-workers when working from home.

    They say trust is hard-earned, if so, how do you build trust in a virtual team during these socially distant times?

    How to build trust in a virtual team

    Team building activities have long been relied on as a means for team members to create bonds of friendship and develop trust between one another.

    Team building also promotes creative thinking, improves communication between team members, develops problem-solving skills, and highlights strengths and weaknesses – all of which have a lasting impact on overall productivity.

    Given the restrictions in place due to Covid19, the traditional away-days and challenges that companies usually adopt will be difficult to achieve.

    We’re here to reassure you that all is most certainly not lost and that virtual or hybrid events provide ample opportunity for teams of all shapes and sizes to build trust between one another.

    Online team building has to differ from the activities expected normally, on account of a lack of physical attendance. However, that isn’t to say that virtual versions are any less effective or engaging than in-person activities.

    The keys to keeping all stakeholders invested in virtual team building activities are variety and pace. It could be easier for participants to take a backseat or lose interest when they’re used to the pressure of being there in person, so by keeping virtual team building games diverse and relatively fast – you can ensure maximum engagement.

    Why leverage virtual team building in your organisation

    Virtual team building activities have the same objective as their traditional counterparts; place a group of relative strangers in a compromising situation, so that they have to work together to solve the task.

    In doing so, team members learn to rely on each other outside of the context of ‘work’. By working with their co-workers in an informal setting, trust is nurtured, and friendships created.

    These relationships can then be relied upon in the workplace, increasing team efficiency and productivity for business leaders, as well as improving job satisfaction for employees.

    Feeling like ‘part of the team’ is perhaps more critical now than ever before. With more of us feeling isolated in our everyday lives as well as our working ones – promoting a feeling of inclusivity is an effective way to combat the feelings of loneliness that many of us have suffered from in recent months.

    How remote working has changed the traditional ‘corporate’ team

    Throughout last year, all manner of businesses were coerced into adopting a remote working policy. Initially out of necessity, as the coronavirus pandemic restrictions put the breaks on the infrastructure in which we all rely on.

    But as the year progressed, many companies began reporting impressive statistics relating to productivity and workforce efficacy.

    This study, carried out at the height of the first lockdown, revealed that two-thirds of employers reported increased productivity for remote workers than in-office workers.

    While 95% of respondents involved in this study reported at least the same, if not higher productivity levels than if they had been in the office.

    One year on and many businesses are now committing to remote working policies in the long-term, offering their employees the option to work from home either part or full-time.

    There should be little surprise that employees would prefer to work remotely when both the convenience and financial savings on offer are considered.

    How online virtual training differs from traditional in-person training

    As more teams are becoming increasingly virtually-based, it seems only natural that workplace training and development would move further online as well.

    Here at MDA training, we have leveraged virtual elements within our training for over thirty years. Our experience in traditional in-person events has enabled us to create both hybrid and completely-virtual training courses that can be adapted to suit a wide variety of training requirements.

    The difference between in-person and virtual training is simple. The latter is viewed through a screen whilst the other is physically attended.

    Compared to traditional methods, the benefits to online learning are plenty and well documented, like convenience and efficiency, increased information retention, and improved productivity.

    By taking an experiential approach to the courses that we provide, we create highly immersive experiences for our learners that offer equally as much if not more opportunity to put their learning into practice.

    We do this by implementing digital business simulations. These are carefully crafted, sector-specific activities designed to test the main learning objectives of each course purposefully.

    We’ve talked at length about the benefits of business simulations on the MDA blog before, whatever your industry or sector – we have a tailored solution to test your employees’ learning.

    Through utilising the most up-to-date video conferencing software, combining with expertly crafted content, led by thought-leaders and industry experts – we were able to transform the way hundreds of businesses trained their staff throughout 2020.

    Our approach enables teams to build trust within their activities, learn new skills, and apply knowledge to be used in the workplace.

    Though the face of business is undergoing massive change, with remote working policies and teams connected only by virtual means – we’re here to prove that this is an opportunity, not an obstacle for your business in 2021.

    Despite the distance between us all, we’re confident that our training and team building methods will bring your people together. For more information, get in touch with the MDA team today.

  • Digital Business Simulations: How to maximise commercial productivity

    Digital Business Simulations: How to maximise commercial productivity

    2024 saw many businesses, from an array of industries, embracing remote working due to the coronavirus pandemic.

    With more and more employees relying on their screens to carry out their responsibilities, training within the workplace has also seen a dramatic shift to the virtual landscape.

    Over the course of last year, we saw businesses from the commercial sector embracing virtual training over traditional in-person training as an answer to the restrictions brought about by Covid-19.

    With many companies seeing dramatic increases in productivity due to the benefits of remote working, the virtual workplace outlook in 2024 – including company training – looks very optimistic.

    At MDA Training, each of our sector-specific courses, from banking to manufacturing, feature interactive digital business simulations as part of a course structure. These experiential activities provide learners with an essential opportunity to put the course material into practice.

    They are also a crucial reason why our virtual training solutions can help your company maximise commercial productivity.

    How virtual simulations differ from traditional workshops

    Traditional business simulations are set in a physical environment, where participants will work to solve a series of problems to either learn by doing or to demonstrate learning already undertaken.

    In a virtual workshop – where the business simulation is delivered through some form of a screen – those involved will be required to engage with online content before making informed decisions based on their learning. To solve the simulation’s problems, they’ll need to correctly apply their learning from throughout the course.

    Experiential learning, whether virtual or physical, mirrors reality, produces predictable learning and requires deep involvement. The virtual environment lends itself so fantastically to business simulations because of its versatility, accessibility and affordability.

    Virtual courses can be styled to match any company brand guidelines, while their duration and content are carefully controlled.

    They are accessible remotely at any time of day, anywhere, and only need to be recorded once to be delivered multiple times.

    The benefits of business simulations in virtual learning

    The simulations that are an integral part of our virtual training programmes have numerous benefits that range across the industries we work with, like facilitating collaborative problem solving, improving learning retention and connecting employees who otherwise would never meet.

    The Research Institute of America researched retention rates in virtual learning, revealing increases of 25 to 60 percent – compared to retention rates of 8 to 10 percent with more traditional training routes.

    The reasoning for these increases? Better control over the learning process for the employer as well as the fact that learners can revisit training as needed.

    Connectivity and collaborative working are vital to improving productivity, especially in the current climate we find ourselves in.

    As more and more of us continue to work from home and increasing numbers of new-hires start their careers working remotely – feeling like ‘part of the team’ is becoming ever more difficult.

    We’ve discussed the benefits of interactive training in the banking sector at length, but the simulations incorporated into our courses are applicable across multiple industries.

    From team-building exercises and developing a management mindset, to learning critical financial concepts or exploring commercial decision making – these skills aren’t restricted to one industry alone and are essential tools for running any successful business.

    Head to our Learning Lab for five more reasons to leverage digital business simulations for your business this year.

    Our digital business simulations

    We’ve worked hard to create a series of engaging activities that give real-word experience within our virtual training courses.

    Through blending activities designed to spark interpersonal communication with facilitator-delivered content, digital business simulations are a versatile tool to be used across the virtual environment.

    Whether your sector is banking or insurance, asset management or manufacturing – we have a range of simulations explicitly tailored for your employees’ development.

    From ‘run the bank’ and ‘client centric banking’, to our ‘driving commercial success’ simulation or leading an international insurance business for the insurance industry – each sector-specific course is enriched with its own digital business simulation.

    Some elements are incorporated into a broader programme to cement the learning carried out during the course.

    Other simulations run as standalone activities, such as our bespoke manufacturing business builder, or our highly successful ‘DigiPark’ simulation.

    If you’d like to learn more about how our carefully tailored business simulations could be utilised to maximise productivity in your business, get in touch with the MDA team today.

  • 5 Virtual Event Trends for 2024

    5 Virtual Event Trends for 2024

    If 2024 saw the rise of the virtual event, then 2024 will be the year that businesses worldwide truly embrace the versatility that they offer.

    In the wake of the coronavirus pandemic and the remote working boom – a myriad of online conference platforms made their way to market, putting board meetings, seminars, even workplace training at our fingertips.

    In this study – carried out back in August of last year – 500 senior marketers were asked a series of questions to reveal their strategy for events planning in 2024.

    Among the study’s findings, 80% of respondents expected to run or participate in hybrid events in 2024, whilst 64% expect to increase their 2024 event marketing budgets compared to 2024.

    Though online conference platforms provided us all with the tools needed to continue working as the world battened down the hatches, the sheer range of choice between platforms can be somewhat of a blessing and a curse.

    Not to mention that the vast majority of ‘free’ versions don’t provide the necessary level of professionalism that many business owners and events organisers have come to expect in 2024.

    By working with a trusted partner and experienced events organiser like MDA Training, you can rest assured that your virtual event will be engaging and run smoothly from start to finish.

    Moreover, by utilising our vast experience in both traditional and online events, you’ll be able to leverage the flexibility that hybrid events have to offer.

    The virtual event trends to look out for in 2024

    By definition, virtual events are anything held online, whether a conference or webinar, live stream or training event – your intended audience will be sat behind their screen.

    Instantly expanding your audience from how many seats a typical venue can hold – to how many people worldwide have access to the internet and a screen of some description.

    Throughout 2024 we helped organisers and businesses adopt new technologies and combine them with traditional event elements, providing their audiences with interactive and engaging experiences.

    Based on our clients’ feedback across last year, our highly interactive approach is what sets MDA apart from our competitors.

    We provide experiential digital activities and business simulations alongside premium content, led by industry-leading speakers – to provide a versatility that is unattainable outside of the virtual environment.

    Below are five of the most popular events that we helped organise throughout last year, that we believe will shape virtual and hybrid events throughout 2024 and beyond.

    Conferences & Webinars

    Moving conferences and webinars online allows you to reach a wider audience for your speaker to educate and inform about the topic at hand. Now that group gatherings are limited due to social distancing measures; virtual conferences are the next logical step.

    Virtual and hybrid events provide a stage for multiple speakers across your event, while also allowing for important breakout sessions and small group classes through virtual ‘rooms’, where attendees can discuss and consolidate their learning.

    During shorter webinars or a talk from a single speaker, the advent of live chat features allows attendees to discuss the topic at hand and even ask questions in real-time – creating a far more immersive experience than a traditional seminar.

    We also utilise unique experiential digital activities such as our DigiPark business simulation. Simulation helps break up conference sessions into more manageable sections, encourages networking, reinforces key messages, and compels delegates to learn interactively. Find out more about DigiPark in the learning lab.

    Training workshops

    Take the success of the millions, if not billions of instructional videos on YouTube and other popular streaming sites as an example here – and you can see how running a hands-on workshop would lend itself particularly well to a virtual environment.

    Depending on the knowledge you’re trying to impart, the event’s organisation may need to include a list of materials or tools published beforehand.

    But whether you intend to teach woodwork or a coding language – pointing a camera at yourself whilst you wax lyrical about your specialism is just as effective as a traditional workshop.

    On top of the ease of production, virtual training workshops allow the organiser to create a series of classes on various topics and promote relevant courses within the content. Increasing the potential audience size and in turn, improving potential revenue.

    Taking an experiential approach to training workshops, like providing real-world simulations and activities, also provides a safe environment for applying and embedding learning.

    Live streaming & pre-recorded content

    Most online conference platforms, like Webex and Zoom, provide live streaming features. When organising your virtual event, including a live stream, is a great way to engage with your audience while promoting a sense of immediacy.

    Pre-recorded content enables you to include elements that aren’t possible in live streaming, like video editing features that provide a more professional sheen to your content.

    By combining pre-recorded content with live streams throughout your event, you will reap the rewards from both elements – encouraging attendees to stay tuned and not miss the live segments, while grabbing their attention with impressive video edits in-between.

    Onboarding & company training

    Whether your company is a multinational conglomerate or an aspiring SME on the up and up, training new hires or existing employees can be difficult under normal circumstances, nevermind during a global pandemic.

    The benefit to virtual onboarding and online company training is that all of your content is in a central location, easily accessed by anyone, whenever they need it.

    Whether that includes training videos, legal documents or questionnaires – all materials can be easily accessed or even amended whenever necessary.

    Virtual training also promotes better engagement and productivity, bringing variety and real interactivity to the learning journey. As our online courses are in manageable segments, staff retain bite-sized pieces of information far better than in one long block of traditional in-person training.

    Continuing education & qualifications

    As with many industries that require their employees to possess up to date qualifications, travel to attend continuing education courses and seminars was at one time commonplace.

    Moving such courses online provides a win-win for the employer and the employee – saving money through the absence of travel and recording or streaming the content just once, and then presenting the course in a virtual environment.

    Leverage virtual events for your business in 2024

    Indeed, virtual events aren’t a new concept, but with social distancing and home-working measures set to stay at least until the springtime – more businesses will likely be turning to virtual methods to achieve their goals for 2024.

    There are undoubtedly some events and industries that lend themselves to the virtual environment, but with the introduction of modern technologies and a healthy dose of creative thinking – almost all in-person events can be brought into the virtual age.

    With a long list of benefits to taking your event virtual, like cost-savings and increased attendance, better engagement and added revenue streams – our question to you isn’t how you’ll leverage virtual and hybrid events this year, it’s when.

    Get in touch with the MDA team to discuss how we can make your dreams of hosting a virtual or hybrid event in 2024 a reality!

  • How experiential virtual training is solving the challenges faced by the banking sector

    How experiential virtual training is solving the challenges faced by the banking sector

    Before the COVID-19 pandemic, the banking industry’s traditional business model was already under significant strain, facing real challenges brought on by the rise of internet & open banking.

    With consumer demand shifting from the local branches and cashier desks of yesterday to the secure smartphone apps and innovative online products that we expect today – it seems obvious now that a reflection of this shift in training banking staff was inevitable.

    In a post-coronavirus world, those challenges are just as prevalent, if not heightened. With customer’s reliance on online banking products being higher than ever, it seems evident that the global social distancing measures driving this demand would also fuel how banks approach staff training.

    Why training within the financial sector has had to change

    Though the retail banking sector has seen unprecedented change in recent years, statistics from the London Institute of Banking & Finance – reveal that bank or building society branch closures between 1986 and 2014, saw a 51% decline.

    So if industry change has been a thirty-year battle, what recent factors are forcing banks to change the way they train?

    In 2018, a ruling from the Competition & Markets Authority came into force, a directive which promoted the development and use of innovative online payments.

    This legislation enabled fintech firms and challenger banks to bring new services to market, offering more variety and better value than high street banks could provide.

    As a consequence, the majority of the services offered on the high street are increasingly considered as redundant, meaning banks have had to adapt and adopt the same technology to compete.

    This has meant job losses and branch closures across the country, as the need for cashiers or tellers has become increasingly unnecessary.

    A fact backed up by statistics of employment within the banking sector falling by approximately 100,000, between 2001 and 2018.

    That said, the industry is by no means a lost cause. Recent projections made in the Mckinsey quarterly suggest that whilst the number of roles have decreased, a skills gap has grown in their absence.

    Because the financial sector is at the forefront of digital adoption, the demand for a more skilled workforce is likely to increase dramatically over the next decade.

    As automation is more regularly adopted, the need for a workforce that uses basic numeracy and literacy for data input and processing is likely to decline.

    Instead, training existing staff to become technology experts, whilst onboarding new professional talent will increase. Additionally, roles that require customer interaction – whether in person or online – will drive the demand for keen social and emotional skills.

    Whilst there may be fewer roles in banking than there once were, there is far more diversity in the opportunities that are available – opening up opportunities for banking firms to develop their workforce with quality training.

    How digital learning is transforming training within the banking industry

    Meeting the demands that rigorous staff training dictates, as well as clearing the hurdles presented by social distancing measures, has posed a significant problem for employers over the last nine or so months.

    Alternatives to traditional learning environments have been essential for continued professional development, which is where virtual learning programmes have come to the fore.

    This study by Forbes presented findings that employees gained the same amount of learning in 40-60% of the time spent in a physical classroom, whilst virtual training could also boost employee engagement in the workplace by 18%.

    Whether your business has existing employees, new hires or graduates that need upskilling – the advantages of experiential learning are threefold. Interactive learning online presents a unique solution to training during the global pandemic; facilitating an inherently safe social distance, mastering your product offering to improve commercial awareness, whilst honing critical ‘soft skills’ from a digital perspective.

    Experiential virtual training from MDA uses a combination of videos, live conferencing and frequent communication.

    Not only provides the learner with one to one training from industry experts, but it also exposes them to the necessary experience needed to offer customer-centric online banking – an industry focus set to become the industry standard.

    Trusted by industry leaders such as Deutsche Bank, Lloyds Banking Group, and Royal Bank of Scotland – MDAs comprehensive banking operations training focuses on the following four areas:

    • Technology, Infrastructure and Operations
    • Private Banking
    • Investment Banking
    • Corporate and Commercial Banking

    Each training programme utilises a combination of experiential learning methods, such as virtual theatre workshops, banking simulations and live, facilitator-led discussions.

    Learning is then bolstered through hosting online discussion, interactive PDFs and toolkits – providing an extensive learning experience to drive change in the workplace.

    For more information about our virtual products training programmes for the banking sector, contact MDA training today!

  • Meeting the demand for online conference platforms in 2024

    Meeting the demand for online conference platforms in 2024

    Whether through necessity, choice or a combination of the two, companies from all manner of sectors and industries have embraced remote working over the last twelve months. As a result, online conference platforms have exploded onto the scene, revolutionising the way businesses interact with customers and colleagues alike.

    So what are online conferences?

    Online conferences provide many of the same benefits as their traditional counterparts, often featuring a thought leader in their given industry who speaks in a series of sessions. Where conventional and virtual events differ from one another, however, is their scalability and uniqueness.

    Hosting an event or conference would typically involve hiring a space, which immediately limits the capacity of your audience. The physical space, such as a stage or platform, will also dictate how you engage with your intended audience.

    Online events take advantage of today’s technology, exciting graphics and engaging displays enable the host to tailor a truly immersive experience – without the expensive outlay of sourcing and hiring a venue.

    Conference organisers need to factor in attendance into the planning of their event. Before the coronavirus pandemic, when physical conferences were more commonplace than they have been recently, attendance was often negatively impacted by a multitude of factors.

    Whether through poor promotion or organisation of the event, this study carried out in 2016 suggested that cost was the number one reason for attendees choosing to not attend a physical conference, at 72% of the sample.

    Whilst 60% listed their work schedule as a deciding factor in skipping the event. The same study also revealed that over 80% of online conference attendees would avoid the conference generally, if it were in a traditional format.

    This isn’t to say that a physical event doesn’t have its merits; there are some situations where being there cannot be undervalued enough.

    But by combining online conference platforms within the physical space, known as a hybrid event, organisers can provide the best of both worlds.

    Choosing the right platform for your company

    Since the popularity in virtual conferences has seen such dramatic growth in recent years, choosing between the various platforms available to you can seem daunting.

    It goes far beyond just choosing between features like video quality and viewer capacity, for your event to be a resounding success, you need to be able to create an engaging and truly unique experience.

    Whether you’re planning a large conference or a series of smaller events, virtual training classes or team business simulations – there are some key features that you’ll need from your chosen conference platform. The most popular and common online conference features being:

    1. Live streaming
    2. Pre-recorded Video
    3. Co-browsing
    4. Instant messaging
    5. VoIP audio conferencing
    6. Platform support
    7. Screen sharing
    8. Ability to go private
    9. File sharing
    10. Whiteboard features

    Many streaming services, like Zoom or WebEx, offer the same or similar features as the technology is widely accessible for all business users.

    But the platform you choose is just one piece of the puzzle. What really separates one virtual events service from the next is how easily the event is branded, customised and aligned to your company goals.

    Setting up an online conference can be as straightforward or as complicated as you want it to be, but if extending your reach, increasing attendance and engagement and generating revenue are priorities to your business – you’ll need a service that is tailored specifically to you.

    Online conferencing and virtual events from MDA

    We’ve focused on creating a service that is hassle-free, taking the stress out of planning, organising and delivering your online conference or virtual event.

    From recruitment fairs to induction days, we’ll provide as much support as you need throughout the whole process.

    Whether you need technical support throughout the event, hosting assistance or managing the logistics of a virtual or hybrid event – you decide our level of involvement, leaving you to focus on your priorities.

    We’re well versed in all of the popular online conference platforms and can offer you tailored advice as to which platform and technology are best suited to your event.

    With over 30 years of experience running both physical and virtual corporate events, MDA is a trusted partner to a range of organisations the world over.

    Our tried-and-tested approach to virtual events management offers flexibility and convenience for all of our clients. So whether you’re looking to run team building events or away-days, virtual CPD classes or recruitment conferences in 2024 – you can trust in MDA to ensure your event is a complete success. Get in touch with one of our team to start your virtual journey!

  • The five elements of a successful virtual training programme

    The five elements of a successful virtual training programme

    The implementation of virtual training programmes in the workplace has been accelerated massively in 2020, as businesses prepare to overhaul their traditional plans to accommodate the new demands that COVID-19 brings.

    While virtual learning has been around for much longer than the last six months, we are now going to see a huge increase in the number of businesses using it to train and develop their staff. In fact, it has already been stated that 98% of businesses will plan to implement e-learning by the end of this year.

    At MDA Training, we have continued to work with leading businesses to design and deliver virtual training solutions, drawing on a blend of interactive facilitator-led sessions, activities and simulations. We specialise in training programmes for the following sectors:

    Of course, when it comes to creating a virtual training programme, each business is entirely different and will have different requirements and learning needs.

    This is why we have outlined five clear components that need to be met in order to successfully run a training event.

    1 Designing a virtual training course

    There needs to be a clear understanding of what the learning objectives of a programme are before implementing it. In particular, the following needs to be decided from day one:

    • How will the programme be managed?
    • Which virtual platforms will be used?
    • How can our virtual methods benefit the participants?

    Organising how long an event will last, who will take part in it, which software is to be used, and how employees will benefit from it will lay the foundations of a successful programme.

    At MDA Training, we organise and manage the virtual platforms, business speakers, Q&As, panels, polls, handling technical queries so our clients don’t have to.

    2 Supporting employees taking part in a virtual programme

    For many employees, the online programmes that they take part in this year and beyond will be their first experience of an entirely virtual training programme.

    While many will thrive in this environment, others will take time to truly engage with these new methods. To help ease this transition, it is important for businesses to support their employees as much as possible.

    This can be achieved by clearly explaining the tasks and activities that employees are required to carry out, as well as maintaining regular communication throughout.

    When creating a training solution, we allocate a dedicated Program Manager to a specific project. This person is responsible for pulling in the right resources across our business, working with clients to ensure that we design and deliver the project end-to-end from design through to post-event.

    3 Choosing and developing the right virtual training methods

    There are so many interactive methods available as part of a virtual training programme, which means that businesses need to carefully choose their methods in order to engage with their employees.

    Whether it is a virtual simulation, a facilitator-led discussion, a filmmaking activity or anything else, the methods chosen need to link back to the original learning objectives, as well as being engaging and informative.

    At MDA Training, we draw on our extensive range of interactive sessions and experiential individual and group exercises, activities and simulations.

    Where required, we tailor the content to ensure it reflects the commercial and organisational context of our clients.

    4 Delivering the programme

    A virtual training programme might be drawing on the best methods and be designed in the strongest possible way, but if it is not delivered properly, it will not resonate with employees.

    With one in three employees stating that uninspiring content is a barrier to their learning, careful consideration needs to be made to how specific learning material will be delivered.

    To ensure that everything runs smooth and the programme is delivered as expected, we recommend running test sessions pre-event.

    For our training solutions, we provide a dedicated host who manages all elements of the programme, as well as additional facilitators for when more individual attention is required during group work and activities.

    5 Sustaining the learning post-event

    Reflection on performance is crucial in any workplace scenario, and must not be overlooked when implementing a virtual training programme.

    To help sustain the learning and give employees takeaways from the programme, leaders need to provide resources that will allow individuals to analyse their own performance, such as:

    • On-demand e-learning
    • Online summaries of the learning material
    • Post-event films and interactive PDFs.

    At MDA Training, we administer original post-event resources which are designed to sustain learning, provide reporting and create a memorable takeaway of the event for promotion across the organisation.

    FOR MORE INFORMATION ON OUR VIRTUAL TRAINING PROGRAMMES, PLEASE CONTACT MDA TRAINING TODAY.

  • Can asset management training be carried out virtually?

    Can asset management training be carried out virtually?

    High levels of volatility, immediate and long term survival packages and varying market conditions are just some of the factors that have turned the asset management sector on its head in 2024.

    The usual script of how to manage funds, equities, statements and derivatives is now completely different due to the ongoing financial implications of COVID-19. This rings true across the sector in every corner of the globe.

    Major companies have been forced in recent months to not only change their immediate strategies and portfolios in order to survive, but also re-evaluate their processes and systems, both in light of the new normal and to better cope with market volatility in the future.

    This presents an ample opportunity for businesses to retrain and prepare their employees for the future. Implementing a clear and effective plan for the ‘new normal’ in asset and fund management needs to resonate across an entire hierarchy, and it needs to be achieved through regular training.

    But with so many employees still working from home, how can businesses implement a training programme that will prepare an entire workforce for what’s ahead? Enter virtual learning.

    How can virtual learning improve asset management training?

    Now that many employees are working from home and offices worldwide are running at reduced capacity, businesses are looking for new ways in which to integrate digital processes. This has been evident in the sharp rise in the popularity of video conferencing software like Zoom and WebEx.

    Advancements in technology (particularly in the field of virtual learning) mean that it is now possible to transfer classroom-based learning to be delivered entirely online. This is particularly beneficial this year for large-scale businesses that host annual training events.

    Of course, much like a face-to-face training programme, virtual training courses need to be carefully structured and implemented using the right techniques in order to be successful.

    Particularly when it comes to an asset management training programme, which will need to be related to several areas of the business including regulation, pricing and technology, it is crucial that leaders choose the right methods at the right time.

    Fortunately, the flexible and easy-to-use nature of virtual learning lends itself to asset management businesses, as employees will be able to learn and engage with training material on various topics much quicker than traditional classroom-based programmes.

    In addition, many virtual learning methods are available on-demand at any time, which proves to be useful for employees who work within multiple areas of the business, allowing them to learn at their own pace. Effective virtual learning methods include:

    Our virtual training programmes for asset management

    At MDA Training, our dedicated consultants possess an expert-level of knowledge in creating and delivering bespoke virtual learning programmes for leading asset management businesses.

    Despite the challenges associated with COVID-19, we are continuing to provide virtual simulations and interactive training programmes for our clients.

    Specifically, our “Introduction to Asset Management” virtual simulation is designed to explore the challenges of being a fund manager first-hand. Our blended approach is centred around a collaborative, online activity where key learning is embedded through short, trainer-led discussions.

    Employees are required to outperform the benchmark by investing client money and making asset allocations over a specific period. Their decisions are based upon real-time economic and market information, thus helping them to better understand how a fund manager analyses data and makes investment decisions.

    We then bring all the learning together. We analyse each team’s performance and link the learning back to the needs of the fund management business, highlighting the vital role they play in supporting business performance.

    This programme can be delivered via Zoom or WebEx and can be tailored to meet the varying needs of different audiences from early careers and general onboarding through to CPD for technology or sales and distribution professionals. For more information about this simulation, please watch the video below:

    

    FOR MORE INFORMATION ON OUR VIRTUAL TRAINING PROGRAMMES FOR ASSET MANAGEMENT, PLEASE CONTACT MDA TRAINING TODAY.

  • Is it possible to build client relationships in banking virtually?

    Is it possible to build client relationships in banking virtually?

    It cannot be stressed enough how crucial client service skills and relationship management in banking both are, for businesses of all sizes.

    A group of employees may possess the strongest technical and credit skills in the market, but without effective communication and personalised customer-service relationships will always inevitably break down.

    Especially now, as a recession looms and consumers begin to change how they manage their finances, the need to build a strong rapport with an entire range of customers has never been higher.

    Prioritising customer-centric banking would typically involve face-to-face meetings and consultations. However, with several lockdown measures still in place, communication remains limited to video calls, chatbots and other digital mediums.

    While this will pose a number of challenges, it is entirely possible to continue building relationships with clients virtually, as well as ensuring that employees are able to communicate with impact.

    Building client relationships in banking virtually

    As the coronavirus pandemic has continued to cause problems for leading banks around the world, we have been discussing how virtual learning and communication can be utilised, especially when it comes to presenting with confidence and aiding early careers development.

    Even if social distancing measures weren’t in place, banks have a responsibility to ensure that their employees possess relevant interpersonal skills as well as being able to put them into action.

    As mentioned in Finance Digest, considering the three C’s – communication, convenience and context is key for banks to succeed in the digital age. This means that liaising with clients about their financial needs in a way that is clear, concise and contextual should not be sacrificed, despite the fact that less face-to-face interactions will inevitably take place.

    As mentioned above, emerging technologies like chatbots, easy-to-use mobile apps and video conferencing will help to boost communication networks both during this pandemic and the wider digital age – but it must be facilitated with sufficient training.

    MDA Training’s virtual approach to relationship management training

    We believe that coronavirus shouldn’t limit training plans or indeed a bank’s ability to interact and engage with their clients.

    That is why our fully digital training programmes, delivered via WebEx or Zoom, are designed to embed skills and behaviours around active listening, questioning and communication.

    Delivered as part of an existing programme or available as a standalone training solution, your people will develop their skills in a number of areas related to:

    • Effective listening and questioning
    • Building rapport with clients
    • Networking
    • Rising to the challenge of client service
    • Understanding client requirements.

    Our facilitated sessions draw on virtual learning, e-learning, microlearning, digital workbooks and more to deliver a fun and engaging training event that will enable your employees to engage with clients with confidence, even if they cannot meet them in person.

    FOR MORE INFORMATION ON OUR VIRTUAL RELATIONSHIP MANAGEMENT PROGRAMMES FOR THE BANKING SECTOR, CONTACT MDA TRAINING TODAY.

  • Carrying out banking products training virtually

    Carrying out banking products training virtually

    Traditionally, leading banks have always been successful on the basis of providing the best products; allowing their customers and clients to manage their finances with ease.

    In recent years, however, the rise of customer service and relationship management has forced banks to adapt their approaches and methods in order to remain competitive.

    Developments in open banking, as well as increasing customer expectations, means that it is no longer enough for banks to merely offer quality products. A typical customer now wants to easily make changes as well as having more control over their finances.

    While relationship management has taken on a significant role in banking strategies and approaches all over the world, the importance of products training cannot be undermined.

    Without strong products and knowledge of these products, businesses are only setting themselves up to fail. Particularly with economic uncertainty looming as a result of the coronavirus pandemic, more and more people are going to rely on their banks to provide sound advice and products to help wherever possible.

    With banking employees currently operating remotely, ensuring that they are up to speed with everything from credit to risk management must be conducted virtually.

    How banking products training can be conducted virtually

    Genpact have recently highlighted the importance of customer service in the coming years, citing that real-time relationships, biometric security and curated experiences will contribute to success in the future of the industry.

    For a bank to be able to maximise these opportunities, however, they must ensure that their employees know their products inside out.

    Making this happen would have typically taken place in-person. However, banks across the world now have to adapt their methods in regards to learning and development, ultimately relying on digital and virtual learning methods, and products training is not exempt.

    Particularly relevant for new hires and graduates who still need to immerse and familiarise themselves with the products on offer, virtual training can go a long way in ensuring continuity, even during a global pandemic.

    E-learning, microlearning, interactive PDFs, film-making activities and facilitated digital sessions are all methods that banks can utilise in order to ensure that their employees possess an expert level of knowledge related to specific products, thus helping to match the growing importance of customer service.

    MDA Training’s approach to virtual products training for banks

    Our expert consultants possess several years of experience in providing fully virtual and fully digital products training for leading banks across the world.

    We adopt an approach which aims to achieve the development ambitions of our clients, which in turn paves the way for real behavioural change.

    Centred around experiential learning methods and virtual simulations, your people will develop skills related directly to your bank, improving in areas including:

    • Bonds, FX & Commodities
    • Equities and Credit
    • Derivatives
    • General CIB
    • Financial Modelling
    • Risk Management.

    Delivered virtually via Zoom or WebEx, our programmes are perfect for enhancing an existing training programme or a stand-alone training solution.

    FOR MORE INFORMATION ABOUT OUR VIRTUAL PRODUCTS TRAINING PROGRAMMES FOR THE BANKING SECTOR, CONTACT MDA TRAINING TODAY.