Learning expertise helps Advent improve their training strategy
Envision Training have been providing managed L&D services to Advent Capital (Holdings) Ltd for two years. Advent Capital is a specialist Lloyd’s of London insurance underwriter, working as part of a highly regulated and competitive industry.
The expertise of Advent’s staff is key to maintaining excellence in their business performance. To achieve this, a continual professional development (CPD) accreditation is encouraged across all teams and all employees have the opportunity to embark on their own individual development plans to learn and retain up-to-date and relevant knowledge and skills for the insurance industry.
Advent are currently one of less than 20 companies to have achieved the CII Corporate Chartered status, which is only awarded to insurance companies committed to developing and maintaining the knowledge and capability of their people to deliver the highest quality services.
As part of their CII Corporate Chartered status, Advent is required to keep all knowledge up to date across all business focuses. Advent wanted to work alongside a company that could manage the following:
- Their commitment to development.
- Identifying and bridging skills gaps.
- Reducing their overall training spend.
- Increasing the quality of their training.
- Improving the delivery of their training.
- Developing their response to training enquiries.
- Developing, collating and managing training plans.
Advent got in touch and Envision Training now manage their Learning and Development process, along with their suppliers.
Working closely with Advent’s HR and IT teams, a unified solution was developed, including:
- A seamless introduction where the internal customers are unaware of the external partnership with Envision Training.
- Reviewing training plans with line managers to find the most cost effective resolution for any skills gaps highlighted in the plans.
- Combining Envision Training’s training providers and Advent’s own core providers to arrange the best training solutions with the highest quality trainer, yet staying within—or below budget.
- Implementing budget procedures and processes in the event of a course requiring additional funds.
- Recording all training data to retain Advent’s prestigious accreditation and for general audit purposes.
- Managing the administration of the courses such as issuing joining instructions and calendar invitations.
- Producing monthly reports on course feedback and spend to ensure the highest standard of quality and delivery is achieved.
- Implementing processes that ensure training enquiries are efficiently and thoroughly responded to, whilst proactively arranging training to bridge identified skills gaps.
With Envision Training managing the Learning and Development of Advent’s staff, managers are able to focus much more on business performance, which in turn has increased productivity and helped Advent meet and exceed business and performance goals.
Envision Training has implemented process driven changes that have included the following:
- Retention of their CII Chartered Accreditation during renewal in 2014 through managing the reapplication and rigorous auditing process.
- Booking 70% of CPD annual requirements by end of quarter 2, including recording all training data and managing administration in line with the CII Chartered accreditation process.
- Redeployment of the Learning and Development function and the implementation of streamlined processes, reducing the cost to the business and refocusing the team’s skills and knowledge base.
- Reducing skills gaps by 28% over quarter 1 of the 2014/15 financial year.
- Streamlined and enhanced internal training processes to allow staff to focus on business development.
- Producing a variety of accurate and relevant monthly reports on spend, feedback, development, professional qualifications and CPD requirements for the business to monitor progress and budget for.
- Direct supplier management.
- A single invoice each month for the services and training provided through Envision Training.