November 2, 2018 - No Comments!

5 Stellar ways leadership simulations drive measurable business value

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The world was first acquainted with simulations in training when employed by the military. So, other industries like aviation and surgery followed suit. These industries saw significant value in using simulations because this learning methodology allowed for the development of meticulous habit, management of responses in critical situations and develop crucial skills for exponential success, all of which the corporate world seeks to develop in its employees.

As a result, the use of simulations is gradually gaining momentum in the business world by organizations seeking to develop their leaders and build the leadership pipeline quickly yet effectively. Business simulations provide the experience and training to business leaders like a pilot receives his training through hours of simulation flying. The roles of a pilot and a leader are crucial. They both have the responsible for other people who are depending on them and looking up at them for guidance and security.

Watch this exclusive video to find out how simulations enable deep and impactful learning.

Leadership simulations drive measurable business value and we are sharing the top five with you here.

#1 – Actionable Insights

For centuries, learning interventions have been significantly people-driven, that is, by facilitators and learning teams. As a result, most of the feedback and insights given have been biased or non-existent. Simulations, however, give objective quantitative and qualitative insights at various levels. According to Vijay Kalangi, CTO and Co-Founder at KNOLSKAPE, “Simulations give a detailed analysis of your performance and help in assessing your pitfalls.  This awareness about self leads to behaviour change.” While learners receive real-time actionable insights on potential, performance and progress, business and HR teams receive learning analytics such as participation, engagement, and improvement.

#2 – Exceptional ROI

While organizations have been investing in learning for decades, they have not been able to measure the impact on learning accurately until the inclusion of simulations into their learning methodology. Business simulations are technology driven and thus reduce the costs for the organizations. Learning impact study conducted by KNOLSKAPE on the impact of our own simulation-driven learning interventions indicated a 33% increase in knowledge retention, a 67% increase in learning engagement, and a 23% improvement in skill post the interventions.

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Impact measurement done by clients deploying simulation-based interventions also measure significant business and behavioural impact:

    1. Simulation-powered learning solutions deployed at Philips Lighting to manage business transformation delivered 12.5% increase in employee productivity and 10% increase in sales incentives within the organization.
  • At Kotak Life Insurance, 44 offices reported greater than 100% productivity and the Tied-Agency overall YOY growth on RDM productivity was recorded at 18% with 50 offices showing YOY growth over 18%. Post intervention analysis reported that the first two quarters post the intervention saw the highest revenue generation and productivity for the organization in five years as a result of the simulation-powered intervention.

 

Download White paper: How simulations help achieve deep and impactful learning 

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#3 – Demonstrable mindset change

The adoption of leadership simulations can lead to the development of transformational leadership mindset. At Philips Lighting, the reported behavioural impact has been as follows:

    1. Transformational leadership mindset - from just talking about business and numbers, to focusing on people, increasing motivation, improving productivity, and reducing attrition rates
  • People awareness – Managers are more aware, and consciously make the effort to learn about and implement people management concepts
  • Proactivity - Leaders are becoming more proactive, and clued into what their people managers are doing The learners progress from focusing on numbers and business to focusing on people, employee engagement, reducing attrition and keeping the team motivated.

 

At ABB – GBS,

  • Managers of participating leaders report a 25% improvement in the way participants communicate and manage conflicts, and a 13% increase in the overall competency scores of participants.
  • 23% more participants are willing to take on work outside core responsibilities to help the organization achieve better results
  • Managers reported that there is a 20% increase in the value created for stakeholders by asking the right questions and providing the right solution the first time
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#4 – Higher retention rate of simulation-driven training

Albert Einstein once famously said, “Learning is an Experience. Everything else is just Information.” Simulations take this quote to heart. Impact measurement of simulation-driven workshops at a Global IT corporation depicted that 80% of the learners remembered and implemented the learning acquired in the training through business simulations. This comes from the fact that leadership simulations are deeply grounded in immersive experience and instructional design that engage with the learner and help in improved retention. As a result, KNOLSKAPE’s developmental programs have a track of 95% completion where simulations are seated at the core of the journey or program.

#5 – Personalized and context driven

Leadership simulations are significantly impactful because of their contextualization abilities.

  • For one, since a simulation presents a real-life like environment, learners are acquainted with a situation in the simulation that is much like their own real life.
  • Every action taken within a simulation produces a response/feedback on the action. Since the feedback is based on the actions taken by an individual, the experience and learning is hyper-personalized. When playing independently, no two learners receive the same experience as it is personal to each one.
  • To cater to specific cultures and contexts, simulations can also be presented in various languages and different storylines.

 

Download White paper: How simulations help achieve deep and impactful learning 

KNOLSKAPE_Simulations_whitepaper_CTA

Learners derive more value when they can make associations between the learning and what they already know. It is a classic case of Gestalt psychology at play, and simulations cater to this learning need very effectively.

So, if you want to build a strong leadership pipeline, do give leadership simulations a shot.

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  • Published by: Nikita Madhu in Blog

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