Making Compliance Training Engaging Through Gamification
Why Compliance Training is a Challenge
- Content is complex and detailed, covering numerous regulatory policies. This can overwhelm learners.
- Compliance training needs frequent updating as regulations change. Employees resent having to redo training on similar content.
- Sitting through lengthy compliance courses with no interactivity leads to disengagement.
- Learners may perceive compliance training as a chore rather than an opportunity to strengthen skills.
The Power of Gamification
Gamification applies game-like elements to non-game contexts. This could include:
- Points-based systems
- Badges or certificates
- Challenging quests
- Rewards and recognition
- Storytelling and characters
- Feedback loops and progress trackers
Research shows that gamification triggers the release of dopamine, increasing motivation and engagement.
Let’s look at some examples of how gamification principles can be applied to make compliance training more rewarding for BFSI professionals.
- Points and Leaderboards Drive Friendly Competition
- Quests and Challenges Add Adventure
- Real-World Simulations Boost Relevance
- Rewards & Recognition Enhance Morale
- Make it Social, Make it Fun
A points system where learners earn badges for completing compliance training modules fosters motivation. Displaying rankings on a leaderboard facilitates healthy competition, encouraging staff to engage actively to top the board.
Team leaderboards also unite groups in striving towards a collective badge for compliance excellence. This builds camaraderie while ensuring comprehensive policy comprehension.
Introduce challenging quests that must be completed to earn compliance badges. For instance, learners can undergo a simulated phishing attack quest to earn a cybersecurity badge.
Such quests frame mandatory training in an adventurous light, instead of as another box to tick. Unlocking achievements is perceived as rewarding.
Compliance training covering customer privacy, conflicts of interest, or ethical conduct can incorporate real-world simulations with ethical dilemmas. Learners make decisions and see the outcomes of correct and incorrect choices.
Instead of passively absorbing information, simulations allow BFSI professionals to apply knowledge in a safe yet practical environment. This builds long-term competence.
Compliance training should be perceived as an investment in employee growth, not a chore. When learners accomplish quests or reach certain points milestones, share their achievements on the company portal or in newsletters.
Virtual rewards like gift vouchers or choosing a charity for the company to donate to also boost morale and motivation to complete compliance training. Public recognition enhances pride in strengthening compliance skills.
Social collaboration makes any activity more engaging. Discussion forums foster peer-to-peer learning on compliance topics like AML policies or insider trading rules.
Polls, leaderboards and posting achievements to social feeds also makes training social and fun instead of a solitary activity. Even friendly team contests can encourage compliance learning.
While compliance training will always require focus on details, gamification principles can make it interesting and drive better outcomes for BFSI organizations.
The sense of achievement and morale boost also increases employee satisfaction and retention levels. For organizations looking to integrate gamification into their compliance eLearning, specialized partners can help develop tailored, effective solutions.