Wells Fargo’s Learning Dimensions is a next-generation training program designed to replace a traditional instructor-led program for new client associates. The former program was a traditional four- to six-week in-person training program. There were several challenges to that approach for the business, including cost, time away from the office, and a lack of in-field experiences. In addition, the traditional approach to learning did not appeal to the next generation of learners. Wells Fargo redesigned the program to provide learning in a way that would appeal to a newer, younger generation of learners.
Program Details
The Learning Dimensions program is multi-dimensional, including gamification, self-study exercises, online assessments, instructor-led sessions, and telephone observation time with different team members. Each learner also is assigned a mentor, which allows for individualized feedback throughout the program. This builds learners’ confidence, while ensuring they remain on track and can customize their learning as needed.
This new approach has been well received by both learners and the line of business. Specifically, it aligns with the business strategy for a strong team member experience and supports providing a consistent and successful experience for clients. The new training program also closely aligns with the Wells Fargo development philosophy of successful development encompassing a blend of experiences, relationships/mentoring/coaching, and formal learning.
Results
- Results from the pilot indicate that the additional mentoring and hands-on experience have resulted in a 10.1 percent increase in call quality immediately following the program as compared to the traditional program. Call quality is evaluated through call opening skills, authentication procedures, client care, professionalism, procedures, and call closing skills.
- The program is being delivered more cost effectively. A typical four-week new hire program costs approximately $5,700 in travel costs per session. By implementing this program, Wells Fargo reduced travel and expenses by approximately 50 percent, saving an estimated $17,100 in travel costs each year.
- An additional benefit for the line of business has been the “green” element of this program. Materials production expenses have decreased by 70 percent as the majority of materials are now available electronically.
- Early results show that learner proficiency is achieved one to two weeks earlier than with the previous program. This can be critical to the client, as the client associate position directly supports and answers questions for the external client.
- 100 percent of all learners to date have worked with a mentor, and feedback from the pilot indicates that the mentorship is attractive to the next-generation learner. Learners agree that this is an important factor in what they consider to be criteria for strong learning.
