HR Corner Learning culture drives sales development by Charles Mak Progressive and systematic training helps insurance sales elites reach attainable goals Key industry players today look upon sales development as a significant integral part of business success and therefore invest big money in setting up the necessary learning infrastructure. Jonathan Law, head of training academy, sales training, AXA China Region Insurance Company Limited, points out that the vital element in any such endeavours is to create an atmosphere where ongoing training and development process accentuate a learning culture at various career stages. In view of this, in 2004 AXA drew up a comprehensive development plan PEAK (professional education and applied knowledge) for front-line sales distributors ranging from producers to managers. "Developed with reference to the curriculum offered by the Royal Melbourne Institute of Technology in Australia, PEAK is a theoretical and practical knowledge transfer mechanism that covers all contents of training for both agency managers and financial consultants," Mr Law says. "Whatever their rank or seniority, PEAK will give them the most suitable and appropriate tools for growth." Retention of quality financial consultants is always a challenge Balanced manner Under PEAK, a four-year initial training plan is designed for every new financial consultant, which helps to offer a clear indication of career development and professional growth. AXA requires each financial consultant to fulfil business goals as well as competence needs in a balanced manner. Mr Law notes, "Depending on the individuals' work experience we help them set different goals. We match their competence with training programmes and assessments so that they will attain the qualifications and acquire the professional qualities needed to further their career aspirations." For example, a new financial consultant will go through an induction training that covers basic skills such as making service calls, self-introduction and recommending products and services to customers. Besides an eight-day orientation programme, ongoing training is provided to introduce new skills and reinforce learnt ones. "We develop and cultivate these good learning habits," Mr Law stresses. "Like any other business counterparts, retention of quality financial consultants is always a challenge. The current industry turnover rate is as high as over 40 per cent. The objective of our endeavour is to offer sufficient training and attention to new recruits so that they can be quick to settle down, enjoy their jobs, and deliver quality service to our customers." Exemption from certain training programmes is sometimes granted provided that the new recruits with relevant experience can demonstrate their competence through assessment. Meanwhile, AXA provides long-term training and development for existing and future managers. A two-year plan is tailored for stepping-up managers who must be equipped with basic management skills such as recruitment, developing sales teams, training and coaching, as well as soft skills like leadership and team-building. This future leadership development programme (FLDP) was launched in 2006 and has so far helped build more than 200 future leaders. Another two-year executive leadership development programme (ELDP) is designed for experienced managers to enhance their management skills including strategic planning, time management, effective communication, change management and conflict management. Wise investment To cope with increasing training needs within the industry, AXA's HK$20 million-plus purpose-built training academy has been constantly reviewing the contents and delivery models of its training programmes. In a bid to consolidate experience from executives and to strengthen the company's learning culture, the academy leverages on expert resources from various departments such as sales training and agency management, as well as that from seasoned agency leaders. Under AXA's mentoring system, experienced sales leaders act as mentors to facilitate learning and employ various tools to assess their mentees' progress and performance. Mentees receive a personal organiser (manual), which sets out the goals to achieve along the way in their career development. When certain goals have been achieved, they present the organisers to their mentors who will in turn submit the organisers to mentors of the next level. "Through this, top management can have a clear indication of the individual and the whole team's progress," Mr Law remarks. Meanwhile, to make sure leaders will have time set aside to review sales performance, training programmes are strategically scheduled on odd-numbered months and review sessions on even-numbered months. AXA adopts various evaluation tools to gauge the effectiveness of training mechanisms. They include evaluation forms and satisfaction surveys conducted with sales, distribution channels, as well as general staff. "We are a result-driven company," Mr Law says. "Besides the range of evaluation hardware, we also obtain indications such as the retention rate of new recruits and the promotion rate of managers." Salient points Strong learning culture Training and development a powerful tool PEAK — an eight-year theoretical and practical knowledge transfer mechanism Competence-based assessment matched with appropriate training programmes Training programmes strategically aligned with mentoring system Taken from Career Times 26 May 2007, p. A24 Your comments are welcome at [email protected]