Client Situation
Our client is one of the largest commercial banks in Oman, providing best-in-class consumer and commercial banking services for its retail, corporate and institutional clients. The bank observed an increased focus on learning and development within its organisation. The bank, thus, engaged Cedar to assist with a target operating model and way forward strategy design for its learning academy.
Cedar’s Approach
In this program, Cedar was mandated to assist the client with its way forward strategy for the learning academy. Therefore, Cedar applied an 'outside-in' approach and performed the following tasks:
- Performing a market assessment to understand global best practices across 12 learning academies for an industry overview
- Categorising nine key components of learning academies under four pillars
- Creating a framework for a comprehensive study of learning academies based on the above categorisations
- Benchmarking thought leader academies to create a vision and mission statement for the bank aligned with its four core values
- Identifying ~25 performance measurement metrics across trainers, training and the academy
- Reviewing current processes for enhancing the scope of automation and improving the existing technology stack within the academy
- Conducting an extensive comparative study across eight success factors for internal and external knowledge assets within the academy
- Proposing programs and channel strategies based on industry best practices
Outcome
The program resulted in Cedar identifying best practices across global learning academies. Cedar also recommended a way forward strategy for the learning academy of the bank with the following:
- Vision and mission statement for the learning academy based on the bank's core values
- ~25 key initiatives categorised as quick wins, medium-term and long-term initiatives
- Way forward roadmap for each of the nine components of learning academies that Cedar diagnosed
- Identification of technology embedment opportunities within the learning academy