Social Learning and Your Financial Institution

Believe it or not, social learning has nothing to do with social media like Facebook, LinkedIn, or Instagram. In fact, the term "social learning" was coined decades before we even knew what the internet was. American psychologist Albert Bandura developed the theory of social learning in 1963 and it emphasizes how people learn through watching, listening, and doing. The theory focuses on the importance of observing, modeling, and imitating the behaviors, attitudes, and emotional reactions of others.

Incorporating Social Learning into Your Training

Since this social learning relies on observation or direct instructions, things like interactivity, shared documents, video conferencing, performance simulation, microlearning, and live instructor-led training are all important components for a successful training program. If your online learning partner doesn't offer these tools, and you feel social learning should be a priority, it might be time to reconsider the platforms you use.

Incorporating social learning into your financial institution can impact its recruiting, onboarding, training, and talent development. One of the most positive by-products, however, is it can help support and encourage an overall learning culture and continuous training. This translates into ensuring your staff only spends enough time to learn exactly what they need, with only minimal interruption to their daily workflow. On-demand and just-in-time training will help accomplish this.

Creating a Social Learning Environment

Creating a social learning environment at your organization can also empower your employees to take control of their own learning. This can include self-enrolling in training courses to help them reach career goals or fill any skill gaps they may have. Because of this, social learning not only supports employee professional growth, but can boost your financial institution's overall growth as well. It can also enhance its overall employee culture and foster workplace collaboration. So, give social learning a try — it'll be a win-win for all involved.