Edited by Margery Weinstein
Wells Fargo & Co.’s Deposit Operations needed a central repository of learning resources. Deposit Operations is a line of business in the Technology and Operations Group (TOG). It is responsible for receiving, reviewing, processing, and archiving all deposit account documentation for Checking, Savings, Certificates of Deposit, FDIC-insured IRA accounts, and Beneficiary Services processing. In addition, Deposit Operations performs the regulatory review of customer information for Opt Outs, Regulation D, and exception accounts opened through online banking. Deposit Operations was incurring a staff increase of approximately 20 percent, with staff located in multiple locations across the U.S. Subject matter experts (SMEs) in the department conducted new hire and remedial training on the job. The demand for both new hire and remedial training often exceeded the capacity of the SME staff.
In response, TOG Learning and Development created the following learning solution, which included:
- Identifying tasks that are repetitive and fairly simplistic in nature and developing Web-based trainings (WBTs) or “show me” activities (online demonstrations with practice and assessments)
- Creating basic overviews of processes and links to specific resources for more unique and/complex processes
- Creating a Central Knowledge Repository, the Deposit Operations Resource Site, to provides team members access to all training resources from one central location; it can be accessed through an icon on the team member’s desktop.
The value proposition for this training approach is:
- Significant reduction in the time required for current SME staff
- Reduction in training time for new hires
- Greater number of new hires can be trained at the same time
- Consistency in training content
- Easy access to training resources for team members
- Ability to revisit/review training content as needed
- Just-in-time review for unique and infrequent processes
Ease of tracking course completion
To validate its training approach, the company developed an evaluation strategy consisting of Level 1 to 3 evaluations. With a 72 percent response rate, results showed:
- 97 percent of respondents rated the training favorably.
- 90 percent was the average score achieved on the course knowledge assessments.
- 97 percent felt the training approach adequately prepared them to perform the task(s).
- 64 percent accessed the Resource Site once a week, while 32 percent accessed it one or more times a day.
As a result, this training program was duplicated for the Store Accounting Support team within the Enterprise Payment Operations Division.
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