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Since the quintessential organisational model evolved, training and development requirements have also undergone a shift, similar to classroom instruction. If we compare this to a traditional learning model, the sage and student method has now dynamically replaced by a system where the learners and the changing business environment are demanding much more. Outcome-based learning is the newest format of learning and development that has taken the industry by storm. In simple terms, this is a learning system that defines knowledge and value perception based on pre-defined goals. These goals can be anything – from an increase in business revenue to a difference in overall productivity or powerful time management. So what are the apparent quantifiable aspects where outcome-based learning makes a difference? And what are the main attributes of this system? We break it down for you right here: 1. Goal-oriented and Easy to Manage The crux of outcome-based learning lies in the fact that it is purely goal-oriented. Here, the training delivered is attached to a pre-set motive that the learner expects to fulfil. One of the best ways organisations can thus integrate outcome-based learning in their existing learning and development programs is by providing pre-onboarding training to freshers, and graduate hires. Pre-onboarding training is the training that new joiners receive before they are formally initiated into the organisation. Outcome-based training here is about imparting purely practical aspects and know-how of the job they are expecting to do. For example, in a banking or financial services company, outcome-based training would involve teaching new hires organisational processes, managing customers, and fundamental workplace principles. Quick tip for employers and learning and development managers – want to make this more cost-efficient in terms of time and resources? You can always tie up with Edtech platforms to provide these training to the workforce on your behalf. With the combination of recorded expert content and live sessions, saving you a substantial amount of resources can be apportioned to other more productive tasks as an employer. 2. More Practical and Less Theoretical Another identifiable trait about outcome-based learning is that it places an adequate reliance on acquiring practical skills (learning new technologies). They are more about teaching how to do things, rather than just saying or ‘narrating’ how they are done, through virtual individual and group projects. In these kinds of training, learners often have objective tasks or projects to complete in a stipulated time, through case studies and industry projects online. They are then provided constructive feedback and suggestions based on their submissions, thus helping them learn the hypothesis and applying a new concept. This concept is beneficial for process or technology-oriented jobs, wherein innovations in systems and management functions are done regularly. Here again, online learning has helped revolutionise the way practical education is delivered. Providing timely human assistance and modules with regular submissions and practice assignments is like combining classroom learning with advanced technology. A brilliant example of outcome-based learning here can be the digital marketing courses provided by upGrad. Its Enterprise focuses on maximising impact through outcome-based knowledge about Data, Technology and Management domains. The system mixes synchronous and asynchronous learning with industry mentorship, industry projects, and assessments-recorded video lectures submissions and live projects. With all these, metrics our platform teaches students what digital marketing is in theory and build the practical skills required, which would also help them with effective transfer of skills by practising it with clients as soon as the course is over.  3. Measurable results and quantitative insights Lastly, one of the most significant advantages of outcome-based learning is quantifiable results. Unlike other training models, where the product is visible ‘organically’ or ‘over some time, under outcome-based learning, this happens almost immediately, almost like an immediate skill development or personal rapid. Additionally, since outcome-up-gradationing mostly involves learning on the job or learning while doing the activity, it impressively increases trainees’ employability. It inoculates them with these skills that would be instantly converted into revenue. Thus making it the most relevant form of learning and development in the current global economic scenario where speed is everything, and learning from mistakes is very limited. Why is outcome-based education important? Transparency  The students are aware of what they should be expecting from the course and the teachers are aware of what the learning is going to be about. In both ways, the process becomes much more transparent and thus increases the quality of education.  Flexibility The outcome-based learning is much more focused on extracting the best outcome, as opposed to the other ways of teaching. This allows for the teachers to experiment and become more fluid in tier approach to derive results. Career progression In the long run, outcome-based education becomes useful. The recruiter can look at the profile and ascertain the productivity and value that particular candidate can bring in.  Advantages of outcome-based education  Brings clarity to everyone among the teachers and students especially. The students get to learn what suits them best, this brings much more flexibility to the process.  Students get to take responsibility for their goals.  There is no restricted method of learning. One of the outcome-based education examples would be the flip-classroom approach.  Helps in creating a healthy environment where the students do not compete with each other and work towards achieving their targets.  Outcome-Based Learning – Is it worth it? Though critics have their fair share of reservations about outcome-based learning patterns solely on the approach that it takes, the results and efficacy of this model are far beyond debate. This training model and development model heavily influence the training results, making it much easier to absorb and teach. Thus, moving from traditional in-person training to pre-recorded online sessions and tie-ing up with the right online learning partner to manage these tasks.  To date, over 500,000 learners have successfully upskilled and reskilled themselves via upGrad at industry-defying rates of over 85%. Our cutting-edge curricula and collaboration with the leading global faculty and industry experts make us the pioneers in helping enterprises create a workforce that is ready to conquer tomorrow, today. Still, need convincing? Download our whitepaper. Or Reach out to us at enterprise@upgrad.com.

by Kimaya Hemdev

26 Mar 2023

Blogs

5198

With ‘disruption’ becoming the buzz word of 2021, the future of enterprise learning has started to look different than what was anticipated by human resource managers before. Previously, enterprise learning was all about on the job training and continuous skill development. However, this has changed now. In late 2019, a global L&D market report by Beroe Inc. estimated the Learning and Development industry to touch approximately USD 446.1 Billion by 2020. In 2021, the growth expected to jump further.  The expectations towards job training’ going in for a significant shift – what does the future of enterprise learning look like in this ‘New Normal’..? Trends that will govern the future of enterprise learning: 1. Reliance on Capability Over Skill Before the pandemic, having a predefined skill set was everything. Every job had a list of skills required, and candidates were expected to possess those skills to be accepted for that position. However, once the lockdown struck, there was a wave of change and uneasiness in the air.  This was when test a person’s capability to handle pressure, adapt and react analytically. These are qualitative skills that employers always expected candidates to possess; however, they were not considered a ‘qualification’ over and above their quantitative skills. Thus, from now onwards, this is the first thing that will change in enterprise learning. In the future of enterprise learning, employers will like to focus more on building their workforce’s capability and personality traits than polishing a skill set that they already possess. A simple example here: When the world went digital and work from home became the norm, the millennial generation was adept at using digital tools to get their work done, rather than the older, more experienced and skilled generation. Even though experienced and established professionals had all the requisite skills to do a job, they were termed redundant in the ‘New Normal’ due to their inability to navigate their way through a remote workspace effortlessly. 2. Infrastructure and Technology The normal mode of enterprise learning in most organizations is the corporate training way. New joiners and others at regular intervals imparted training in the traditional sage and student method. It is a thing of the past now. Naturally, with virtual workspaces coming into the picture, conventional training models have also been deemed redundant. Nonetheless, it is not only about moving training to a virtual platform that will do its job. The future of enterprise learning also involves a significant transformation in the infrastructure used for imparting these training. As per a report by Research and Markets (one of the worlds leading research store) about the global LMS(Learning Management Systems) market size are expected to grow from USD 13.4 billion in 2020 to USD 25.7 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 14.0%, considering this ample amount of investment organizations are working on ensuring platforms are as user-friendly, interactive, attractive, and engaging as possible. Additionally, ensuring employee attendance to a training program is also tricky in a virtual set up. Hence, making an LMS platform that appeals to employees and maximizes outcome value for their time spent is one of the parameters that will significantly define this practice’s success in the future. 3. Content  Organizations that have been masquerading L&D programs can sometimes be confused with under the garb of soft skills training and other skills training for a long time now. Some organizations have also made it mandatory for employees to attend these training sessions. Nevertheless, nowadays, this strategy will no longer work for corporations. Another change that the future of enterprise learning focuses on achieving tangible results through quality content; employees no longer feel the need to expend their time in activities that do not provide them value or substantial returns. Hence, the old format of training will now have to replace with more quality content, Such as case studies, practical projects and industry expertise to offer – in a way that an employee can take something qualitative and quantitative back. Training and enterprise learning that will impart the same run of the mill concepts repackaged into a new format will no longer work in the future. 4. Flexibility  Lastly, the future of enterprise learning will also involve a lot of flexibility, specially engineered to suit the ‘desk less’ workforce’s needs. Hence, learning and development programs will now be self-paced, on-demand, and ones that you can practically learn during your work. Most enterprise learning solutions will transform to learning on the go, without the trainee having to earmark a specific time slot to attend the training, thus, making the experience more flexible and adaptable. Conclusion 2020 saw the inception of an all-new workplace for each of us, which also brought about a catalytic change in the very foundation of enterprise learning. Most experts believe that the trends mentioned above are going to govern this subject for a while. However, the business environment is changing dynamically. It is important to keeping pace with trends and upskilling continuously with the right learning partner. Learn more about how upGrad corporate training and development helps in upskilling. 

by Kimaya Hemdev

24 Feb 2021

Blogs

5182

In the changing digital landscape, few technologies are being touted as disruptions. Blockchain is one of them. Blockchain is a suite of distributed ledger technologies used to record and track anything of value from financial transactions to weather patterns to even new vaccine development records. With the potential to completely revolutionize the way we interact with each other, it’s quickly gaining momentum across industries right from the supply chain, logistics to energy, transportation, BFSI, and pharma. Source What is Blockchain? Derived from the distributed ledger, Blockchain is a collection of individual records called as blocks, linked together in a single list, hence forming a chain. Here each transaction is “chained” to the previous one in a sequence and is recorded without any interference, forging a great deal of trust, transparency, and accountability while adding an unbreakable layer of security. If you change the information recorded in a particular block, you don’t re-write it; instead, the change is stored in a new block with a time, date, and personal stamp. It’s a non-destructive way to make data changes over time. Simply put, it enables businesses to keep the encrypted record of all transactions, making it difficult for one user to control the network. It is the combination of all these factors, decentralization of the data, adding trust to it, and allowing us to interact directly with one another, which gives Blockchain technology the potential to underpin the way we interact with each other. How does Blockchain work? Source What makes Blockchain unique? By enabling collaboration based on shared data, participants in these blockchains remove the need for third-party intermediaries and establish consensus-based trust. Because Blockchain creates a single source of truth in which data cannot be changed with all parties approving the change. The distributed ledger of a blockchain can store any information, reducing overhead and eliminating manual processes by establishing tamper-proof, immutable records. What are Blockchain’s real-world use cases? “Digital has brought in true democracy erasing borders in every sense, practical, psychological, and physical. Blockchain will play a key role in infusing trust in this ecosystem by eliminating intermediaries and allowing the exchange of any value between peers “.  – Ghanashyam Das, Senior Advisor, upGrad Enterprise You can improve your understanding of the Blockchain by looking into the use cases and its potential impact. The following image illustrates the impact of Blockchain in multiple industries in various sectors. Source Source Here are some of the most prominent sectors where the blockchain adaptation is growing exponentially. 1) Fintech With the rise in seamless digital transactions, the rate of fraud and identity theft is rising exponentially. Not only fraudulent transactions, verifying KYC, enabling better encryption of financial data is the need of the hour. With its decentralized networks, Blockchain will make millions of transactional user data much safer and more efficient. The following are some of the Blockchain’s most significant advantages: ✔ All entities are accessing the same version of the shared ledger. ✔ Increased access to capital, because it’s not caught up in long settlement times or errors and disputes  ✔ Increased trust and accountability among enterprises, regulators, and consumers For more information on how Blockchain influences FinTech practices in real-time check. 2) Insurance  Claims processing is a crucial part of the insurance industry; it is essential to verify an insurable event and facilitate beneficiaries with legitimate claims. The pre-determined policy conditions can be mapped into a smart contract which will execute itself on event occurrence. Hence, providing customers with pre-determined claims.  The benefits of insurance are as follows: ✔ Eliminates the cost of processing insurance claims ✔ Reduces the opportunity for insurance fraud  ✔ Improves customer satisfaction  Source For more information on how Blockchain influences insurance practices in real-time check: click here 3) Supply Chain Logistics Much of today’s commerce involves transferring goods and services from a producer to one or more intermediaries until they finally reach the consumer. This commerce structure is commonly called a supply chain. Supply chains generally consist of multiple separate commercial organizations that work as partners.  For supply chain tracking, blockchain technology offers some unique benefits: ✔ Traceability: Full audit trail of data throughout the supply chain ✔ Compliance: Single, time-stamped, tamper-proof source of data ✔ Flexibility: Real-time rule-based verification of multi-party confirmations  ✔ Reliable transactions: Trusted digital signature-based peer-to-peer interactions For more information on how Blockchain influences supply chain practices in real-time check click here. 4) Pharma In the ongoing COVID-19 crisis, the global supply chain infrastructure was massively hit along with the essential services like pharma and medical supply.  Given the current time’s critical nature, implementing Blockchain to the pharmaceutical delivery networks will improve the efficiency and cut the compliance and traceability significantly. The Healthcare industry, especially the pharmaceutical industry, generally has complex and pedantic compliance regulations essential to maintain quality standards. Implementing Blockchain in your business process will help keep the quality check without any setbacks that come with executing other new technologies. Like the supply chain application, Blockchain has proven itself revolutionary in eliminating counterfeit drugs. Introducing the Serial token system for drugs that are dispatched will help track all the medicines in circulation; it will also help identify expired and prevent counterfeit drugs from entering the market. For more information on how Blockchain influences pharma practices in real-time check, click here. It’s time to upgrade your workforce to Blockchain for an efficient future Since the time of its advent, Blockchain has continued to turn heads, gain credibility and popularity. As surveyed by SAP, 92 percent of business leaders viewed Blockchain as an opportunity. Irrespective of which industry you are currently working with, Blockchain will be an integral part of multiple industries in the next few years. And as proven by many industry veterans, adapting Blockchain into your workspace will exponentially improve overall efficiency and profits by building a reliable infrastructure for your business. But while the demand is surging as much as 33-fold in a year, the available talent lags. Leading research houses cite that over 6000 blockchain professionals are required among 100,000 IT professionals to get into the IT industry each year. (Source)  The following illustration helps better understand how Blockchain will impact various industries:  Together, we can create a new online learning paradigm At upGrad Enterprise, we are obsessed with learners’ success. It’s not just about them completing the program; it’s about strengthening their core concepts and providing exposure to the latest software development tools to keep adapting to the changing tech landscape. Our unique human-assisted learning experience, best-in-class mentors, access to the industry experts, and our alignment with the most renowned academies mean that your employees will not learn in isolation. And when you combine that with our best-in-class AI to keep the learners engaged, our industry-defying rates of over 85% course completion will not surprise you. To date, over 500,000 learners have been successfully deep skilled via upGrad at industry-defying rates of over 85%. Our cutting-edge curricula and collaboration with the leading global faculty and industry experts make us the pioneers in helping enterprises create a workforce that is ready to conquer tomorrow.  Still, need convincing? Download the brochure. Blockchain Brochure Or reach out to us on enterprise@upgrad.com

by Kimaya Hemdev

19 Aug 2020