Development and Training Paper 2
Development and Training Paper
For this assignment, JP Morgan Chase (JP Morgan) will revamp its training and development program. JP Morgan is a very large company, so any new training material will go through many guidelines to ensure the adequate amount of changes are done. JP Morgan will assess what the training needs are. Once the training needs are identified, the training materials can be created. JP Morgan being the large company that it is, will most likely use an internal medium to train its employee as JP Morgan can invest money and resources into the internal training department (Rascoff, 2010) . Although trainings can also come via external, contracted, or be outsourced if needed. Strategic implementation will follow detailing the delivery of the new training. Finally how will the effectiveness of the training be reinforced, sustained, and measured over a long period will be explained through this assignment.
Training Needs The primary responsibility of bank employees is to cross sell products and services to customers. In order for employees to effectively cross sell, they need to have the proper training and resources. JP Morgan understands that employees are at all different skill levels. This is why it is important for JP Morgan to properly evaluate employees’ cross selling skills, so that the company can start training employees at the appropriate level. Once the employees are properly trained, the bank can set company sales goals and have confidence that the employees will have tools and training they need to meet the goals. To gauge the sales ratio and obtain a snapshot of each employee’s cross selling skills, the bank generates a sales report. This report would reflect employee average cross selling and his or her cross sell ratio. The goal for every employee would be that for every account opened at least four products or services would be cross-sold. Through internal monitoring and employee surveys, the bank would be able to identify
For this assignment, JP Morgan Chase (JP Morgan) will revamp its training and development program. JP Morgan is a very large company, so any new training material will go through many guidelines to ensure the adequate amount of changes are done. JP Morgan will assess what the training needs are. Once the training needs are identified, the training materials can be created. JP Morgan being the large company that it is, will most likely use an internal medium to train its employee as JP Morgan can invest money and resources into the internal training department (Rascoff, 2010) . Although trainings can also come via external, contracted, or be outsourced if needed. Strategic implementation will follow detailing the delivery of the new training. Finally how will the effectiveness of the training be reinforced, sustained, and measured over a long period will be explained through this assignment.
Training Needs The primary responsibility of bank employees is to cross sell products and services to customers. In order for employees to effectively cross sell, they need to have the proper training and resources. JP Morgan understands that employees are at all different skill levels. This is why it is important for JP Morgan to properly evaluate employees’ cross selling skills, so that the company can start training employees at the appropriate level. Once the employees are properly trained, the bank can set company sales goals and have confidence that the employees will have tools and training they need to meet the goals. To gauge the sales ratio and obtain a snapshot of each employee’s cross selling skills, the bank generates a sales report. This report would reflect employee average cross selling and his or her cross sell ratio. The goal for every employee would be that for every account opened at least four products or services would be cross-sold. Through internal monitoring and employee surveys, the bank would be able to identify
References: Berk, J. (2008). The Manager 's Responsibility for Employee Learning. Chief Learning Officer, 7(7), 46-48. Retrieved from Business Source Complete database. International Customer Management Institute. (2010). Measuring Training Effectiveness. Retrieved from http://www.icmi.com/resources/queuetips/2005/march/measuring-training-effectiveness.aspx Noe, R.A., Hollenbeck, J.R., Gerhart, B., & Wright, P.M. (2007). Fundamentals of Human Resource Management (2nd ed.). New York, NY: McGraw-Hill/Irwin Rascoff, B. (2010). Companies Persue Benefits of Training From Within. Retrieved from http://www.allbusiness.com/management/business-leadership-development/11463183-1.html