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Banker Training Program
Technology Category
- Analytics & Modeling - Predictive Analytics
- Analytics & Modeling - Real Time Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Human Resources
- Sales & Marketing
Services
- Software Design & Engineering Services
- System Integration
The Challenge
In order to foster growth at both the employee and business level, the firm had recently invested a substantial amount in sales trainings for its business bankers. While most bankers had gone through the initial training, some had also taken part in a follow-up advanced training course. Management hoped that the training would provide their bankers with higher satisfaction and sales on behalf of the business, but was not sure how to allocate the remaining budget of the training to maximize the impact.
About The Customer
The customer is a global top 20 bank's business banking sector. This sector is responsible for providing financial services to businesses, including loans, credit, and other banking products. The bank has a large workforce of business bankers who are tasked with managing client relationships and driving sales of the bank's products and services. The bank is committed to fostering growth at both the employee and business levels, and has invested in various training programs to enhance the skills and performance of its business bankers. The bank operates on a global scale, serving clients in various regions and countries.
The Solution
In order to understand if the program would have a positive impact on KPIs, the firm used APT’s Test & Learn software to analyze the training program as a “natural experiment.” Using the software, the firm identified the subset of bankers who received the different trainings as the “test” group. “Test” employees who participated in the program were matched to “control” employees who did not receive training, based on historic financial patterns and employee characteristics. Since employees chose to participate in the training program, the test was biased towards employees with higher sales in the past year. By adding a control match on sales in the past year, the bank was able to control for this natural bias. Thus, Test & Learn allowed the organization to accurately answer the following key questions about the program: What was the overall impact of the sales training program? Which employees responded best? How can the program be tailored for maximum impact? Using Test & Learn, the bank found that the basic training program did not drive a significant revenue impact for “test” bankers who participated in the training. However, by de-averaging results, the software showed that the initial training drove a significant benefit for more junior employees. Further, using APT, the bank achieved significant cost savings on initial training by recognizing that the more costly 3-day training did not have a significant incremental lift in KPIs versus the 2-day option.
Operational Impact
Quantitative Benefit
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