Learning Culture and Banking Practice

Learning Culture and Banking Practice

Learning culture can be identified as one of key factors in any organization.

According to the Hand Book of Human Resource Management Practice, following definition for learning Organization has been quoted by Armstrong. “Wick and Leon (1995) refer to a learning organization as one that ‘continually improves by rapidly creating and refining the capabilities required for future success”(Armstrong,2006).

Following philosophies can be recognized in a strong Learning Organization (Miller and Stewart ,1999).

• There is a strong link between learning and strategy of the business.
• The organization continuously learns from opportunities and threats.
• The learning should not be limited only for learning but how to learn.
• Modern learning strategies should be supported by ICT rather than traditional learning methods.
• Clear processes should be available for defining, capturing, sharing, as well as acting on knowledge.

Learning culture of World Bank toward a new learning strategy

According to the Independent Evaluation Group (IEG), World Bank practices under mentioned strategies in order to improve their learning developments.

• Learning from each other’s experiences.
• Openness and active debate.
• Informal Learning and tactic knowledge.
• Management signaling and incentives.
• Localizing Global Knowledge.

Learning culture and Banking practice of ABC Bank

Creating a learning culture towards promoting innovation, in view of enhancing the value of customers as well as the development of the organization.

Learning culture is one of the key values of ABC Bank. Employees could obtain a comprehensive knowledge about the culture, products and services offered by the Bank in the organization by following training development programs.

Learning through e learning modules and questioners introduced by the bank in view of empowering employees knowledge. Further, Bank has implemented on-demand online courses, mentorship and leadership development programs, and education reimbursements in order to encourage leanings of employees.

Moreover, ABC Bank’s mechanism is to recruit talent from all the communities of country. The organization recognizes the value of having a diverse staff with variety of ideas, experiences, and talents working together.

Conclusion

The corporate learning culture should be empowered all employees to learn through innovations and thinking out of box for the betterment's of the organization as well as employees themselves. However, learning never ends.

Post Author : Sameera Galagoda

References

1. Armstrong, ., 2006. A Handbook of  Humon Resource Management Practice, 10^th ed. 120, Pentonville Road, London N1 9JN, United Kingdom: Kogan Page Limited, London.
2. Why is a Learning Philosophy so important for organisations? (2018). You Tube. Available at: https://www.youtube.com/watch?v=dH1H1ZuA2vk.
3. olc.worldbank.org. (n.d.). Can the World Bank Create a Culture of Learning and Results? [online] Available at: https://olc.worldbank.org/print/content/can-world-bank-create-culture-learning-and-results.
4. ieg.worldbank.org. (n.d.). VIDEO: Can the World Bank Create a Culture of Learning and Results? [online] Available at: https://ieg.worldbank.org/video-can-world-bank-create-culture-learning-and-results-0.
5. North-South Centre. (n.d.). Online Training Courses. [online] Available at: https://www.coe.int/en/web/north-south-centre/online-training-courses.
6. eLearning Industry. (2018). Learning Initiatives In Context: Considering The Learning Organization. [online] Available at: https://elearningindustry.com/learning-organization-learning-initiatives-context.
7. Froehlich, D., Segers, M. and Van den Bossche, P. (2014). Informal Workplace Learning in Austrian Banks: The Influence of Learning Approach, Leadership Style, and Organizational Learning Culture on Managers’ Learning Outcomes. Human Resource Development Quarterly, 25(1), pp.29–57.
8. KnowledgeForce Consulting. (2019). Top Learning Organizations - 4 Businesses That Do It Right. [online] Available at: https://knowledgeforceconsulting.com/top-learning-organizations-4-businesses-that-do-it-right/.

Keep your team inspired during a pandemic environment

KEEP YOUR TEAM INSPIRED DURING A PANDEMIC ENVIRONMENT

Global Pandemic created by COVID-19 has now become the biggest threat that world has ever faced during past few decades. Due to the pace of spread of the virus, many countries have been locked down their cities and encouraged citizens to stay self-isolated.

No wonder, business organizations are worrying about how to keep the employees motivated during this period.

Motivation

“Motivating other people is about getting them to move in the direction you want them to go in order to achieve a result. Motivation can be described as goal-directed behavior”. (Armstrong, 2006).

Majority of employees constantly get motivated subject to provided realistic target by the organization; on fulfillment of the target, employees should be rewarded.

“There are two types of motivation as originally identified by Herzberg et al (1957):

01.  Intrinsic motivation

02.  Extrinsic motivation”

(Armstrong, 2006)

During the pandemic environment, it is necessary to keep the staff motivated through intrinsic motivational strategies which are self-generated factors that influence employees towards a particular direction; rather than extrinsic motivational strategies which are implemented by the organization to motivate the staff.

Strategies implemented by the ABC Bank in order to motivate employees during pandemic environment

The decision has been made by the bank to execute Reward strategy, rather than going for Force or Fear strategies in order to keep motivating its staff. Few decisions taken by the bank related to staff motivation are as follows.

• Provided a Salary advance for the month of April 2020 for the junior staff.
• Transport is provided for the staff members who used public transportation.
• Flexible working approaches such as work from home and shift working plan is introduced.
• Staff members who work during curfew hours are recognized by the Corporate Management.
• A simple heartfelt thanking e mail forwarded by the Managing Director to each team member for the commitment made by them during this difficult time.

According to Adam Tallinger,“Rewards are not all bad; they can be a healthy source of motivation. Rewards can be monetary, something tangible, group recognition, or simply a heart-felt thank you”.

(Tallinger A, copyright 2020)

Source – Financial Gazette

Video – Managing your team Through a Crisis 

References
1. Armstrong, ., 2006. A Handbook of  Humon Resource Management Practice, 10^th ed. 120, Pentonville Road, London N1 9JN, United Kingdom: Kogan Page Limited, London.
2. Impact Advisors. (2017). How Are Your Employees Motivated in a Crisis? [online] Available at: https://www.impact-advisors.com/culture/employees-motivated-crisis/.

3. The Financial Gazette. (n.d.). Motivation_02. [online] Available at: https://www.financialgazette.co.zw/open-forum-keeping-your-employees-motivated-during-a-crisis/motivation_02/.

4. Managing Your Team Through A Crisis. (2018). YouTube. Available at: https://www.youtube.com/watch?v=yerTWcZmawA.