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Tag: Learning and Development

Business Simulations – The What, How & Why?

Posted on by Imarticus Learning

What are business simulations?

Business simulations are highly interactive learning tools that provide a hands-on experience to the participants. They focus on practical methodologies like building skills while learning, improving knowledge on concepts, and allow to grow by looking at the bigger picture.

Such experiential learning ways to train participants in various fields can help engage them among themselves while doing their best for their own growth and development and at the same time, help the organization achieve its goals.

Business simulations can be chosen based on four major factors:

Technology

Simulations based on technology can be beneficial when avoiding paper-based simulations. They carry an ability to visualize the learning and can gather participant data. They simplify complex data to make learning an easier experience with more interactivity and personalization.

Response and Feedback

Simulations can create a realistic context but they can also respond to various inputs by the learners immediately or provide feedback once done. This is the input-response-feedback cycle. The inputs can be a financial decision or a dialogue or questions.

Responses can be in the form of visual prompts, financial calculation indicators, etc., such as a budget change. Feedback comes in the end when the participants see how their inputs affect the responses. For example, through a heat map or financial report, etc.

Realism

Unlike case studies or role-plays, simulations can replicate an external situation for participants to make decisions in a virtual environment which is realistic, so that they can make similar decisions in real environment on-the-job. A limitation to realism is that if taken to extremes, it may complicate the learning environment which may lead to a distracting or inappropriate application.

Process and Outcome-Focussed

Simulation-based learning involves a learning process which could be in the form of dialogue or competition, driven by the learners, and the final result. The outcomes can be intrapersonal, interpersonal, external, and related to business. The intrapersonal outcome implies whether the participants have learned anything about themselves.

Interpersonal is based on the question of whether the participants were able to cooperate, coordinate and develop relationships. Business based outcome checks whether the learners were able to create value. External outcomes involve information regarding how the learners’ decisions fit into the context of the organization’s values and the community and within the industry.

The most interesting fact about business simulations is that they require participants to implement what they learn in a risk-free environment. Thus, encouraging them to appreciate the business strategy and business management systems to improve skills, performance, and growth. In short, business simulations function as a bridge to fill the gap between theoretical learning and practical or real-life learning experience. For instance, the participants can make relevant decisions in a challenging environment or situation, similar to what their role demands at their organization.

Business simulations allow the learners to study the markets, its participants and act accordingly, based on their observations, strategically or operationally.

How do business simulations work?

Josh Bersin said that “Learners retain only 5% of what they listen and 10% of what they read, but they remember more than 50% of what they learn through discussion and interaction”.

They create learners who engage more

Interactive learning methods are useful to create more discussions, help in making learning fun while retaining more information and develop relevant skills.

Easy retention through immediate application

By immediately implementing the learned concepts, the participants learn by doing, thus, retaining more information quickly. This stickiness is beneficial for the transfer of knowledge in real-life situations at work.

Simulation helps abstract reality

Simulation games can help recreate real-world experiences that can be practiced by participants in a risk-free environment.

 Learners get more empowered

Participants can understand how the businesses work in a much detailed manner, by taking control and making choices differently.

Business Simulations prepare participants for real-world problems

By the time learners encounter similar situations in their business environment, they are equipped with skills and techniques to be well-prepared for real-life issues.

Business simulations can be blended

Through live classrooms, eLearning sessions, virtual classrooms or blended deliveries, business simulations can be delivered to the learners. The delivery experience can be chosen based on the choice of the participants at various levels.

They build networks

Business simulations promote the formation of vast communities or networks of learners who can interact with each other.

Why use business simulations? 

Business simulations come with several benefits, but here are the key reasons why they should be used for teaching concepts:

Business simulations can imitate the on-the-job learning style

According to many researchers in the corporate training world, more than 70% of what participants learn comes from experience, 20% is learned through interactive learning, and 10% is due to traditional learning methodologies, which may include reading and case studies. Business simulations can imitate real-life situations and be useful in replicating on-the-job.

They provide risk-free decision making

Business simulations allow participants to experience learning in a realistic but risk-free environment. This means that the learners get opportunities to make decisions and mistakes which do not cost the organizations. Without any fateful consequences, the participants can change their behaviors and attitudes according to the situation by learning from experience.

Business simulations are realistic

By replicating realistic market environments, business simulations can be an effective tool for learning by using real and complex situations and implementing the same in corporate environments. The success of simulation is when there is no difference between the game simulation and the real business.

They help participants use their time effectively

Simulations come with limited time, which creates an environment for quick decision-making. In this way, the learners are forced into making decisions under pressure but also ensure that the right decision is made within the deadline.

Simulations create a common culture among the learners

There is no better tool than business simulations to create a common goal for a group of learners. Through teamwork, the participants can think and act together to make decisions and resolve conflicts.

Training New Hires!

Posted on by Imarticus Learning

Training New Hires!

Among the top factors considered while ranking a job or an organization, training and career development are the top two. Studies on employees across the globe have shown that at least 40 percent of newly hired employees stayed longer at a company due to the training courses and onboarding processes. Even the most successful businesses may not have the best employees if they do not train their new employees formally.

While some organizations believe that employees should be able to learn on-the-job, that is not entirely true because even though the employees do get to learn a lot after starting to work, the organization should also know how to train their newly joined employees effectively, helping in better retention rates. This is crucial because the lower retention rates mean higher costs of replacing employees.

More than 90% of employees stay back for at least a year if the organizations are able to provide an effective onboarding process. More than 60% can stick around for at least three years if the companies have well-structured training and onboarding programs.

What kind of training is recommended for new hires?

For happy and productive employees, the training managers should provide all the opportunities possible for the training and growth of the new hires. While many employers believe that training new employees is boring or unnecessary, but with the right training, suiting the employees’ needs, they can create a dynamic team of individuals who are best suited for their team and organization.

Some of the best ways to train employees include:

  • Instructor-led training
  • eLearning
  • Coaching
  • Lectures
  • Simulation
  • Hands-on training
  • Role-plays, case studies, and management-specific activities

Instructor-led training

Instructor-led training is a traditional method used for training employees or learners in a classroom, where a presenter presents the learning material. This method is useful for complex topics that require direct contact with the trainer to receive answers to the questions immediately, in detail and as per need. It is flexible. However, this training method is expensive and time-consuming.

eLearning

eLearning utilizes various audio-visual tools such as online videos, courses, and tests for employees. These are more portable than any other form of training because they can be taken over a smartphone or a laptop. The most interesting factor about eLearning is that a large or unlimited number of employees can be trained using eLearning even remotely. eLearning is also a highly-engaging method of training. However, a major drawback of eLearning is without a proper instructional design strategy, it could fail to convey the meaning of the content being delivered to the employees.

Coaching

Coaching focuses on the relationship between an employee and a peer who is more experienced or highly-skilled. It involves one-on-one mentoring which encourages asking questions that may not be easy to resolve in classroom training or instructor-led training. Coaching can be provided in person or online. However, coaching can be expensive because of the hours that go into it.

Lectures

Lectures are used when employers need to deliver large chunks of information to a large gathering of employees. It is a great resource for communicating messages quickly, but it cannot guarantee clarity. This type of training is outdated because it is ineffective in many cases where employees require two-way communication.

Simulation

The best part of simulation training is it is highly compatible and useful for the internet generation. It employs the usage of computer, augmented or virtual reality devices. Even though the development costs for simulations are high, they are an effective and necessary option for training employees who work in a risky or high-stake environment such as pilots, doctors or army, etc. They provide real-life based learning experience so the employees can implement knowledge immediately in a risk-free environment for practice and use the same on-the-job.

Hands-on Training

This training focuses on the individual needs of the employees. It is also known as on-the-job training and is extremely common in many workplaces. Hands-on training provides an opportunity to develop and experiment skills while working. It requires suitable resources to work best.

Role-plays, case studies, and management-specific activities

Roleplay involves activities for employees, where they consider different perspectives and learn quick decision-making skills. It is highly effective in some environments but may not be effective because it requires more time from employees.

Case studies provide a quick and easy way for employees to gain knowledge on common issues in the workplace. The employees can read at their own pace and also during team-building. Case studies are used for topics that need more focus but cannot be used for complex topics.

Management-specific activities rely on the needs of management. They focus on the best practices for managers. These are only an option when all the training needs of employees have been met before pushing them to learn about manager-related issues.

What are the best practices to improve employee training?

To allow the newly hired employees to adjust to the new environment while making the best of their time in the beginning, organizations must focus on improving training for employees without compromising on quality as well as not losing too much time or resources on the same.

Here are a few ways that work best:

Ensure that the training is targeted correctly

No two teams require the same training. The training should focus on the type of job that the employees are supposed to be doing and whether the content in the training is useful for them.

Training should be fun

Make the training process enjoyable, if possible more interactive. The lighter environment helps new employees to open up and communicate with other employees easily and learn more.

The training should be in effect immediately

The employees should be trained so effectively that they should be confident enough to start using the skills learned during the training immediately.

Train only when needed

Even though may be necessary for employees for a head start, it may not be needed at that particular moment. For instance, if an employee can be trained on a skill which is useful in the future, say after 6 months, it may not be needed in the very beginning.

Most successful organizations focus on the training and development of their employees. For the strategic implementation of the company’s policies and procedures, it needs to make sure that all its employees know and understand what to do when to do it, how to do it and why to do it.

Now is The Time For Online Learning!

Posted on by Imarticus Learning

Now is The Time For Online Learning!

With lockdowns galore and in-person presentations a distant possibility now is a time to engage hungry eyes to feast on content online.

Online adult learning is not only a handy mechanism for sharing trendy information amongst colleagues

but also a quick way to get the newest styles on the market as soon as possible.

Slow is a no-go! The key is to optimize certain aspects of the supply chain for the trends to be designed and manufactured quickly and inexpensively and allow the buying at a lower price.

The 5 Essentials for Content that Flows

Let’s overview the 5 musts to grab learner attention.

Go Short – Mini, or Micro!

Short is impactful and micro is the way to go. Produce content with simple objectives and deliver mapped content in quick bursts. Shorts not only ensure easy access but also ensure the content is retained in the learner’s memory. Twice as effective!

Cover Only the Bare Essentials

Focus on your PowerPoints and cover the specifics. Use your assets, package them with an experienced SCORM partner, and add a voiceover to transform slides into a powerful eLearning module.

Chop-Off the Frills

A simple live-recorded video – sans the frills – can ramp-up explanations about the content, to make your knowledge nugget a runaway success. An activity to highlight what the module is all about and to prompt a quick response ensures the engaging module brings your team or your customers up to speed! A plethora of tools – through screen capture or otherwise – let you create and customize videos or you could always work with a pro to up it a notch.

Explore What You Have

Interactivity makes eLearning more engaging. Using existing templates for activities can reduce design and production time. Pop-ups, flashcards, and even journaling activities ensure higher content retention. You can even ask the learners to submit their reflections.

Show it off

Flashes of genius could lurk anywhere.

Discussion and forum platforms are a great place to display your nuggets. Not only are they an effective training tool for adult learners, but also a great way to drive up the level of interaction within your team.

Platforms could be synchronous i.e. everyone accessing the content on offer at the same time – a conference call – or asynchronous, access at different time slots – a discussion board.

Conclusion

Remember to build a thorough map of all the learning topics and the corresponding objective before you start! Doing your homework is the key to not spewing out irrelevant learning.

The only glitch is that some of the learners and entities might be hoarding on cash and saving for the future for all the uncertainty involved in the present situation. About time they value what they are and invest in people for a brighter tomorrow; after all, we wouldn’t have the COVID-19 blunder had we been trained enough.

In the meantime,

  • Go Short – Mini, or Micro!,
  • Cover Only the Bare Essentials,
  • Chop-Off the Frills,
  • Explore What You Have, and
  • Show it off.

Let’s be cheap and grab attention.

Learning Vs. Training & Development!

Posted on by Imarticus Learning

Have you ever wondered how learning is different from training? We often encounter such trivial questions with no prominent answer to address the question. From a broader perspective, those two seem interchangeable; hard to point out the difference but when we dive deeper into the subject, we will observe that we are dealing with two different things and how they complement each other.

Let’s delve into the details of the same.   

The Process Of Learning 

At the very core of the learning process resides the desire of a person to gather knowledge about any given agenda or topic. The internal inquisitiveness drives the learning zeal rather than an external force or command. The innate quest to know more about a particular stream, agenda, phenomenon, etc. fuels the learning process. The process of learning entails the absorption and retention of information with context. It could be to achieve a particular goal or just to quench the knowledge thirst.

Learning is more about the whole experience of boosting your knowledge, which later will be applied to unknown and unforeseen circumstances. Learning results in enhanced skills and increased knowledge. Since learning is about absorbing important information, the way the knowledge is imparted has a lot of impact on how efficiently the learning takes place. In short, it is linked to the process of training, how well you are trained influences, how well you learn.

The Process Of Training & Development

What comes to your mind when you hear the word training and development? Well, the first thought is that of a strict curriculum and an instructor to facilitate the same. The process of training involves communicating relevant information and knowledge through the means of speech, written manuals, presentations and other such techniques in a manner that instructs the trainee and helps fulfill the objective.  Training is more process-oriented and focuses on skill up-gradation using contextual knowledge sharing.

Corporations use training methods to boost productivity by focusing on delivering important information regarding job roles. After joining a corporation, every new employee goes through a rigorous training process that helps them to be aware of their organization, objectives, day-to-day operations, departmental functioning, tools required to do the job, etc. The end goal is to teach the individual how to perform their job and the process they need to follow for optimum results. The process of training and development is more goals oriented.

Comparing the two

Now that we have established what both the processes are, let us compare and find out how they differ from each other. At the center of our discussion is the force of motivation that differentiates both the processes. When we talk about learning it is propelled by the inner motivation of the individual rather than the force of an external curriculum.

Training and development, on the other hand, are external forces that guide the process of learning a particular skill through a robust curriculum and discipline with an end goal of personal skill development. The process of learning is more knowledge-oriented whereas the process of training is more skill-oriented.

Training is mostly used by corporations to impart individuals with skills that will help to do the job or complete the objective. Learning, on the other hand, is the absorption of information that can be used in multiple contexts and scenarios based on individual understanding.

The process of training and development has a standard way of imparting relevant knowledge whereas the process of learning is subjective and depends upon the individual capacity to absorb and retain information. Even if a group of individuals is trained using the same instructor and information their learning curve might be different depending on their strengths and weaknesses.