3 Key Concepts of Learning Paths
There are three key concepts that are important to understand as you start on a Learning Path for the first time. These terms and concepts are:
Time to Proficiency
What Is Proficiency?
Our goal is for all producers to become proficient as fast as possible. Proficiency means producing desired results in the manner prescribed. Proficiency means more than meeting goals for revenue or book size. It also means selling a range of products and services to small, medium and large clients across industries and in focused industries. But it goes beyond that, it also means interacting with clients and team members in a professional and highly effective manner.
What Does Proficiency Look Like?
As producers become more proficient, you will begin to see a change in how they interact with others. On a sales call, the producer will be in control, respond quickly with a high degree of expertise and repeat this high level of performance call after call. The key elements of proficiency are:
Sounds Like an Expert
How Is Proficiency Measured?
Proficiency is both observable and measurable. Direct observation on a sales call is one method of measuring proficiency. Others we will use include:
Reviewing and Analyzing Sales Reports
Tracking Sales Activities
Reviewing and Analyzing Accounts
Reviewing and Analyzing a Pipeline
Feedback from Clients
Feedback from the Team
What Is Time to Proficiency?
Every day a producer isn’t fully proficient has a direct financial impact. It’s reflected in a level of sales and book size. We will be measuring time to proficiency for new producers from date of hire until proficient. Our goal is to shrink time to proficiency by a minimum of 30%.
What Is a Learning Path?
A Learning Path is the total sequence of learning activities from day one to proficiency. It includes both formal and informal learning. Major activities along a Learning Path will include:
Practice and Experience
Studies show that informal on-the-job learning accounts for 70 to 80% of all workplace learning. Unfortunately, in most organizations, informal learning is unstructured, highly variable and filled with trail and error learning. It takes a lot of time and there are a lot of wrong turns. The P&C Learning Path structures this informal learning so that we can apply best practices and dramatically reduce time to proficiency. As you study the P&C Producer Learning Path, you will immediately see a high degree of detail and structure.