Fifth Third Encourages Employee Learning & Development
Published 09-16-21
Submitted by Fifth Third Bancorp
This article was originally published in the Degreed Community, an online meeting space where Degreed clients can share their success, challenges, and ideas.
It’s a common story in many organizations: “I want to focus more on learning new skills, I just don’t have the time.” At Fifth Third Bank, we encourage employees to take the driver’s seat for their learning and development by providing resources like Degreed that help them get where they want to go. We have talented teams dedicated to helping employees feel supported in their personal and professional development. Because competing priorities and pressing deadlines will always be a hurdle to overcome when it comes to dedicating the necessary time to self-improvement and skill building, how can we encourage employees to take advantage of this opportunity?
We got creative and collaborative. At the height of the pandemic, we wanted to provide a way for employees to focus on their overall wellness virtually. Fifth Third partners with Humana and Ayco to offer a voluntary employee wellness program, including health and financial wellness rewards for specific activities. Employees can earn up to $1,800 in wellness rewards by participating in the program. How, then, can we incorporate an existing reward into learning with Degreed?
Our Learning & Development team connected with our Benefits team to streamline an opportunity for employees to earn a financial reward for completing financial wellness content, developed by Ayco for Fifth Third employees, using Degreed for deployment.
How it’s going
Activations in Degreed jumped up by 84% and logins increased by 40%, with the financial wellness plan being the most followed Degreed plan at the Bank. Better yet, the number of returning users rose by 34%, telling us that employees were introduced to Degreed with this campaign, but they didn’t stop there. The campaign encouraged employees not only to get active, but also to engage with other content that they may not have otherwise.
How you might see success, too
- Collaboration is key. Degreed can bring partners together in a way you may not have considered before. Think about partnerships that involve all the members of your team or department. How can you help each other with your resources and programs? In our wellness campaign, we did more than increase use of Degreed; we provided a platform for our Benefits team and coaching it on how to create an experience there. Be creative about how Degreed can be a tool for your organization, and work together – much like we at Fifth Third work as One Bank.
- Communication is essential. When creating your campaign, ensure you have a comprehensive communication plan that will reach your audience in multiple ways. From newsletters to intranet articles, from executive email encouragement to resources for learning champions to support the initiative, clear and consistent communication is a necessity. Pro tip: Use Degreed’s trackable links to discover which communication methods best engage your audience.
- Incentives help. Employees like to be rewarded, whether it’s through compensation or recognition. In this campaign, employees earn a financial reward for their participation. In other campaigns, select employees are recognized quarterly for their active behavior in Degreed with a personalized email and certificate to post on LinkedIn in celebration of their dedication to development with peers. However you choose to incent your audience, make the benefits of learning clear and worth their while – and remember to celebrate one another.
This story doesn’t end here
As more individuals get active in Degreed, a contagious advocacy for learning is born. If one person sees the value of Degreed, the power of the platform more easily extends to the next person. We’re always striving to be a Fifth Third better, and our employees’ ongoing dedication to development is a true testament to that.
The Ayco Company, L.P. d/b/a Goldman Sachs Ayco Personal Financial Management (“Ayco Personal Financial Management” or “Ayco”), is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC (“GS&Co.”) and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization.
