Adrian Harvey, CEO of Elephants Don’t Forget, shares insights on the failures of traditional training methods, the importance of personalisation in learning, and the impact of hybrid work on knowledge retention.
The conversation also examines the evolving role of AI in compliance, customer service, and employee support, highlighting how firms must rethink training strategies to adapt to a rapidly changing environment.
Explore the challenge of information overload, increasing workplace complexity, and the role of AI in improving employee performance and regulatory compliance.
Find out more about Elephants Don’t Forget -> Here.
Key Takeaways
- Information Overload in the Workplace – Employees are overwhelmed with increasing amounts of data, making it harder to retain and apply knowledge effectively.
- Rising Complexity in Regulated Industries – Regulatory changes, particularly in financial services, demand higher levels of employee competence and compliance.
- Challenges of Hybrid Work – Remote and hybrid working models have reduced peer-to-peer learning by approximately 60%, making structured training more essential.
- AI-driven Personalised Training – Traditional “sheep dip” training is ineffective; AI is being used to personalise learning based on individual knowledge gaps.
- Workplace Retention Challenges – Many employees, particularly new recruits, are struggling and leaving within the first 100 days due to the steep learning curve.
- Shifts in Customer Service Complexity – Simple tasks are increasingly automated, leaving human employees to handle more complex interactions requiring advanced knowledge.
- AI’s Role in Compliance & Regulation – AI can provide real-time competency tracking, ensuring employees remain compliant and capable of handling regulatory requirements.
- Learning Retention Issues – Over 60% of training content is forgotten quickly unless reinforced through structured repetition and self-testing.
- Adapting Training for Younger Generations – Younger employees, accustomed to personalised digital experiences, require training tailored to their learning preferences.
- The Future of Employee Value Propositions (EVP) – Firms will need to offer greater support and continuous learning opportunities to attract and retain talent.
- Balancing Automation & Human Support – Organisations must align digital self-service with human expertise to avoid alienating customers and diminishing service quality.
- Shifting Organisational Mindset – Senior leadership must prioritise competence over speed in employee training, ensuring long-term workforce capability.
Innovation
- AI-powered Individualised Learning – AI technology tailors training interventions to individual employees, ensuring knowledge retention and regulatory compliance.
- Competency Tracking & Continuous Feedback – Real-time data analytics help firms measure employee proficiency and adjust training accordingly.
- Micro-learning for Higher Engagement – Short, targeted learning modules (~58 seconds per session) enhance retention and engagement.
- AI-driven Knowledge Reinforcement – Continuous learning mechanisms reinforce correct information and prevent knowledge decay over time.
Key Statistics
- Employees forget over 60% of training content shortly after completion.
- AI-based learning engagement averages 58 seconds per day, delivering measurable improvements.
- The average pre-training competency level for employees in regulated roles is 54%.
- Peer-to-peer learning has declined by 60% due to hybrid work models.
- New recruits in some firms leave within 100 days, citing the complexity of the role.
Key Discussion Points
- The increasing complexity of workplace knowledge and the struggle for employees to keep up.
- The impact of regulatory changes, especially in financial services, on training and compliance.
- Hybrid working’s effect on peer learning and how firms must compensate for the loss of informal knowledge transfer.
- The failure of traditional training methods and the shift toward AI-driven personalised learning.
- The critical role of repetition and self-testing in knowledge retention.
- The growing challenge of employee retention due to workplace complexity and lack of adequate training.
- The unintended consequences of automation—removing simple tasks has left employees dealing only with complex queries.
- How AI can help firms demonstrate compliance through real-time tracking of employee competence.
- The generational shift in learning preferences, requiring more dynamic and engaging training approaches.
- The tension between automation-driven cost savings and the need for expert human support in customer service.
- The evolving Employee Value Proposition (EVP), where firms must focus on employee support to attract and retain talent.
- How financial services firms can transition from tick-box compliance to a culture of continuous learning and improvement.
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