13 Aug Supporting a major UK insurance company’s transformation with tailored training solutions
In 2009, a major UK insurance company spent £8.2M externally on training and developing its 25,000 UK staff. Just under half of this spend was managed through five core business streams operated by HR; the balance was booked by the business directly with suppliers. This caused a problem because different parts of the business would purchase similar courses from different providers, meaning that the company lost potential economies of scale and value from bringing people from across the Group together for training. It was also difficult to keep accurate records because the training was booked outside of any standard process. Some 500 training suppliers were engaged over a year, yet few had a formal contract with the company, so it was not an effective use of assets.
The company required a significant change in its learning management to deliver cost savings and enable them to match the right learning intervention to the needs of its individual employees.
The insurance company chose Knowledgepool as its managed learning provider because of our natural fit within the business’ culture and our provision of a world-class, easy-to-use booking system.
To deliver the company’s requirements, we have created a dedicated team of advisors who can respond to individual learners and route all of their training enquiries to the most appropriate intervention every time. The team members are immersed in the company’s culture and involve themselves in a continuous process to keep up-to-date with all of the company’s in-house delivery options, so that they can give accurate and appropriate advice to each learning enquiry.
We manage all of the company’s training suppliers and we have incorporated our learning catalogue and booking system into the company’s core LMS and HR system. Our service includes bringing on board particular training providers that the company wishes to retain thereby enabling measurement and evaluation. This puts supplier relationships on a more professional level and generates empirical data to prove their worth.
We work to sophisticated service level agreements and report regularly with learning evaluation and benchmarking data which enables the company to compare its performance against other organisations. They now have reliable and valuable management information, which gives them clear visibility of what they are spending, where and why.
In partnership with the company we have supported the implementation of a new 70/20/10 learning strategy that has delivered a 22% increase in learning take-up while simultaneously reducing the total cost of learning by around 40% through maximising use of informal, internal and online options including e-learning, video bites, workbooks, training games, on-the-job coaching and short, highly focused trainer-led sessions. A key component of this was the data and control our service provides to the client’s L&D leadership team to set and implement new policies regarding the definition, validation, approval and administration of learning requirements.
Our partnership provides the company with an innovative managed learning service that delivers cost savings and enables the group to match the right learning intervention to the needs of individual employees.