Client Meeting Simulation
Situation

The Private Banking division of a large US-based Bank recruits college graduates into a yearlong on-boarding and development program. Each New Hire receives extensive training (both in workshops and in-bank with mentors). The content ranges from financial assessment skills to product knowledge and includes soft skills training (e.g., communication and critical conversations).

Challenge

Each New Hire represents a significant investment for the Bank and each potential client (personal or corporate) represents a significant opportunity that cannot be lost due to inexperience. The Bank is interested in helping the New Hires convert their knowledge into skills using a Practica Learning practice solution. The Bank has had major success with Practica Learning in the past (i.e., Private Banking programs).

Solution

Practica Learning designed a program with a combination of telephone-based and in-person roleplay.

For the telephone-bases session, each participant called into Practica Learning to complete four roleplay-based calls. These calls were designed to help the participants set up appointments based on "warm leads". During one of these calls, a "client" (roleplayer) agreed to an appointment, with the roleplayer revealing the reasons for having done so during the coaching portion of the call.

Two weeks later, the participant met with this same "client" (roleplayer) for a face-to-face meeting in the Bank’s training facility. (Note: During the two weeks between sessions, every participant experienced body language and status awareness training.) In addition to the participant and the "client" (roleplayer) attending this in-person meeting, there were three other participants, each of who observed the meeting and assisted in providing coaching and feedback. Over the course of the day, every participant had his/her own simulated meeting and also helped three other participants with their simulated meetings. The meetings were video-recorded and used for further coaching and evaluation.

Results

While this project was implemented because of the Bank's successful history with Practica Learning, its results can stand alone. Participants overwhelming voted the Practica Learning-based training as the most impactful training taken over the course of their yearlong orientation. It was also noticed that while the recruits had financial knowledge, they lacked the person-to-person skills required to be successful in their new roles, which the Practica Learning program provided. This Practica Learning program is now launching its second year.

Contact
To learn more about us and how we can help your employees become more effective communicators through deliberate, experiential practice, please contact us.
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