What’s the best way for employees to prepare for the worst-case scenario? For Bank of America, the answer is rehearsal.
In October 2021, Bank of America introduced virtual reality training to 4,300 financial centers with approximately 50,000 employees. The program initially prioritized training on interactions between clients and colleagues, but proved so successful that the organization subsequently built additional hypothetical scenarios as elaborate and challenging as a bank robbery. invested in
“Employee safety is based, in some cases, on split-second decisions made by managers,” says John Jordan, director of Bank of America’s academy. “We have found VR to be a very business case and a way to deliver better training and better client and employee experiences.”
Not all of Bank of America’s VR training is as terrifying as a robbery, but it’s effective, says Jordan.Academy has long relied on technology Strengthen training and development programsIts web-based training enables employees to participate in scenarios and conversations both during the formal onboarding process and afterwards at the employee’s leisure. These trainings have been utilized by her employees nearly one million times. The addition of virtual reality, he says, is another way to enhance and make learning more entrenched.
“When we started piloting this technology, we quickly saw people getting some training and feeling confident in their skills, but with virtual reality, they started thinking about the subject matter. I realized I didn’t know that much,” says Jordan. “So not only has the VR experience created a more memorable way of learning for learners, but it has also become a better way to certify skills.”
It has proven to be a valuable method for building empathy. Drawing on the expertise of The Academy’s in-house team and input from Bank of America’s technology partners, banks can use empathy, for example, when someone goes through a divorce or the death of a family member. We have created a training for you to have and respond to.
“Especially for young people early in their careers, they may never have experienced something like that and as a result they may not be as empathetic as you would like. In addition to giving employees the opportunity to practice and experience live conversations, virtual interactions are also recorded so employees can check their performance.
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“Training helps you look for clues, ask better questions, and literally put yourself in the shoes of others,” says Jordan. So how do you simulate tenure? Through practice.”
Adopting technology involves fewer hurdles than expected. bank of americaAccording to Jordan, the biggest challenge is helping people overcome their fear of wearing VR headsets. (“People think they’re going to get dizzy.”) But those fears subsided when they tried the technology.
As the company continues to build out virtual reality training, Jordan says there are many other opportunities to maximize the value of the technology. Diversity, Equity and Inclusion Policy.
“Being able to show someone that you’re disabled or the only person in the room of your race. is,” he says. .
Through Bank of America’s Pathways program, the bank partners with nonprofits and community colleges to provide career paths for people in low- and middle-income communities, promising 10,000 jobs. As part of this partnership, we will share some of Bank of America’s training programs and work to build job skills and career readiness among these communities.
“We’ve hit 5,000 jobs and are working toward another 5,000 typically non-degree individuals, and it’s been a huge success,” says Jordan. “We have partnered with organizations such as the Boys and Girls Club and the Community College of Rhode Island to provide a wealth of content ranging from technology to client care to empathy. We are already working to upskill the community.”
As The Academy’s technology-driven programs continue to expand both inside and outside of Bank of America, it will only create a stronger workforce and better interactions between Bank of America’s teams and their customers, Jordan said. says Mr.
“If 50,000 people can do something better, it’s multiplied by millions of client interactions,” he says.