How Great Learning made 400+ Freshers job-ready in 3 months
|12 Crores INR savings in human resource costs||82 Lakhs per day additional revenue||2X Revenue through the upskilled workforce|
About the Company:
The company being discussed is a leading Operations Management and Analytics company. They offer insurance, banking, financial services, utilities, healthcare, travel, transportation and logistics services. 27,000 professionals work this company across different locations.
In the quest for the next phase of their growth, they needed a qualified workforce who are up to date with the needs of the modern landscape.
Building a superior workforce for exceptional business outcomes
This leading operations and analytics company was looking to hire 400+ new employees who would work on business-critical problems, so the stakes were high. The challenge they faced was that it was difficult to find a way to teach the concepts at scale to a large group of people without a loss in quality.
Hiring new resources and training them is a time-consuming and resource-intensive process that would take away valuable man-hours from productive work, work that would directly impact the company’s bottom line in the short-term.
To achieve higher levels of productivity, they also needed employees who could hit the ground running as they joined. The time that it currently took them to become job-ready was holding the company back from hitting their targets within previously agreed timelines. If an employee were to leave soon after or during their training, that would be a waste of resources, so they needed a way to keep them engaged. Reskilling and upskilling seemed the most viable option.
Finding an industry-relevant learning partner
For all this, they needed a learning partner who could not only teach concepts but also demonstrate the application of those concepts using industry-standard tools, so that their employees can learn to solve real business problems and help the company deliver value to their customers.
Lastly, they needed a way to monitor their employees’ progress so that they were able to ensure that their employees were truly-job ready.
Why did this Company Choose Great Learning?
There are many options to upskill employees, but they wanted to build a skilled workforce at scale, who are ready for deployment in a short timeframe, so they chose Great Learning.
They went with Great Learning due to their top-rated programs which ensured quality education delivery and mentored learning sessions which offered their employees a personalised learning experience that helped them clear their doubts and learn concepts. The learning content was comprehensive while being customised to the company’s need which ensured that employees were able to build skills that were both holistic and relevant to their profiles.
Learning delivery customised for business success
They were also looking at how the learning was delivered. The old methods of traditional training wouldn’t cut it, neither would watching videos. They needed a mix of rigorous training with learning aids that would reinforce what the employees have learnt. Great Learning delivered a learning experience that consisted of self-paced content along with mentored learning sessions. It also included projects and hackathons that encouraged employees to come up with novel solutions through the application of the concepts that they’ve learnt. The quizzes and assignments reinforced their learning and ensured that they had understood the concepts completely.
The Great Learning team conducted a hackathon which saw 87 participants making a whopping 664 submissions towards the problem statement. Participating in the hackathon helped them build practical skills and taught them to solve real problems. The participants gave a 4.⅖ rating for the hackathon.
The senior leadership at this leading analytics company played a key role in evangelising the program. The learning content needed the company flavour to establish familiarity and recognition of their values, so Great Learning customised the learning content by co-creating the program with company stakeholders to make it relevant to specific job profiles and expected business outcomes.
Measuring program effectiveness holistically
Great Learning’s approach to solving the problem was to ensure that they would be able to access a skilled workforce within the stipulated period of time. Once they engaged with the stakeholders, they were able to set KPIs that would make the tricky part of measuring the effectiveness of a training program more tangible. The company was able to track and monitor the employee’s progress on the learning journey through a dashboard that showcased their progress.
Through this, they were able to access detailed reports on performance and skill proficiency, the level of progress achieved, the content consumption rates of the employees and importantly, the assessment results. This gave the management a holistic view of the program’s impact.
Increasing Revenue and Saving costs with a skilled workforce
Through this program, Great Learning was able to save 3 months of job-training time. At an estimate of 1 lakh per month for each employee, this would translate approximately 12 Crores savings for the company.
The employees who have undergone training are much better skilled, which enables the company to command higher billing rates for their services, which allows them to 2X their revenues from these skilled employees. They could potentially charge $300 per day for their services which means the higher-skilled employees would bring in 82 Lakhs per day of work.
After results like this, Great Learning now provides fresher onboarding for their new hires and lateral talent development for mid-senior team management.