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The Centers for Disease Control and Prevention (CDC) estimates more than 60 million adults in the United States, approximately one in four, live with a disability. Struggles with mobility, cognition, hearing, vision and other impairments make it difficult to make decisions, provide adequate self-care, and live independently. As the parent of a special needs child, you know these struggles; you have been there to guide, support, and aid your child since birth. With your dedication to providing extra guidance and care, you have most likely lost sleep thinking about how your child will fare once you are gone. Failure to plan for your departure can have serious consequences for your special needs child, so it’s imperative you take immediate steps to put an action plan into place to ensure your loved one has the care and support he or she needs well into adulthood. Financial planning for your special needs child includes creating a financial safety net for your child’s needs as well as allocating assets for future medical care, education, and day-to-day living expenses. In some cases, this also includes taking advantage of government-sponsored programs and assistance for those with disabilities. Below you will find a broad overview of financial considerations of planning for your special needs child’s future. Supplemental Security Income (SSI) Depending on your income level, you may or may not be getting Supplemental Security Income (SSI) payments for your special needs child who is under 18. Your child must meet the following criteria for the Social Security Administration to find them eligible for benefits if your household income is below the maximum threshold: Your child must have a physical or mental condition or conditions which severely limit activity. The condition or conditions must last one year or lead to death. If your household income level is above the maximum allowed for SSI benefits, your special needs child might qualify for benefits once they turn 18. The SSA will evaluate their income as an adult. If the disabled individual has countable assets greater than $2,000 or makes income above the maximum for federal benefits, he or she will not be eligible for SSI. Health Insurance/Medicaid The medical treatment for individuals with special needs is expensive, and it can begin as early as birth. Good health insurance is a must. If you have private health insurance, you should be familiar with in-network and out-of-network coverage differences as well as services and treatments which are covered. It’s highly likely your child will not have coverage once they reach age 22 or age 26 when most private insurance plans make the cut for a disabled child and student benefits. However, under the health care law, plans must cover treatment for pre-existing conditions from the first day of coverage. This applies to coverage through private health plans in the Marketplace, Medicaid, and Medicare. So, once your special needs child turns 18, they might also be eligible for Medicaid benefits. Even if they live with you, the program uses your child’s own income and assets to determine eligibility. If your child is receiving SSI benefits, the state often automatically approves them for Medicaid. Like SSI, if your child has assets greater than $2,000 or income above the maximum allowable amount, they may not be eligible, so this is where special needs trusts come in. Creating a Special Needs Trust The cornerstone of financial planning and estate planning for those who have special needs children are often the creation of a special needs trust. A special needs trust allows you to financially provide for your child’s future care and well-being-without making them ineligible for SSI, Medicaid, or any other need-based government assistance. When you leave an inheritance directly to your child, it’s likely they will be disqualified from receiving these benefits. A special needs trust gives you an indirect route to leave assets to your child, by leaving them to the trust. Special needs trusts have strict laws, so you need to consult with an experienced estate planning attorney to set one up. A trustee, designated by you, manages the trust and uses the assets as needed on your child’s behalf. In addition to holding cash, trusts can also hold stocks, bonds, mutual funds, real estate, personal property, and life insurance payouts. The trust often serves as a supplement to government assistance. Some of the items trust assets provide disabled individuals include: Cost of transportation or vehicle purchase Training, rehabilitation, therapy, and education Assistive devices and assistive technology Medical, dental, and vision costs Costs for entertainment Payment of insurance premiums Private nurses, companions, home health aides Other items to enhance the quality of life and improve self-esteem When utilizing the advantages of a special needs trust, the most important thing to remember is that any time you or a grandparent wants to name your child as a beneficiary to any policy or asset, it’s almost always in your best interest to name the trust as the beneficiary. 529 ABLE Accounts The Achieving a Better Life Experience (ABLE) program allows families to create accounts that are similar to 529 Education Savings Accounts (ESA), in that they allow tax-free use of the money for qualified expenses. While contributions to an ABLE account are paid with after-tax dollars, the money inside of these accounts grows tax-free. Some crucial factoids to remember when considering a 529 ABLE account include: Your child’s disability must have occurred prior to age 26. Amounts increase every so often, but currently, you can contribute a maximum of $15,000 each year. ABLE accounts can have up to $100,000 before your child has to worry about suspension of SSI benefits. Money from ABLE accounts must be used for qualified purchases; the government penalizes non-qualified purchases with a 10% tax. When opening an ABLE account, DO NOT use it as a way to accumulate wealth. When your special needs child passes, the state Medicaid agency can make a claim against the account for any benefits and services received during your child’s lifetime.

As you spend decades in the workforce, you dream about retirement. As it gets closer, you think about how to bring your dream to life. Each person’s idea of retirement differs based on their goals, desire or need to continue working, as well as other considerations. Regardless of your idea of retirement, you need to consider some specific things and take preliminary steps to get ready for retirement. Financial and life goals, as well as feelings about working and planning for healthcare needs are some of the most crucial factors to evaluate when you are getting ready for retirement. What Are Your Retirement Goals? Everyone thinks about how they would like to spend their days during retirement. You might want to travel, attend classes for things that interest you, volunteer for organizations and causes you are passionate about, and/or participate in other hobbies. You also need to consider the location where you want to live and the type of housing you want in retirement. If you’ve spent decades maintaining a house and yard and paying down or even paying off a home mortgage, you might not want that responsibility anymore. Maybe you want to downsize and buy a condo or townhome, maybe you want to be in a retirement community, or maybe you want to buy an RV and travel around the country. In any case, as you are getting ready for retirement, many of your choices will hinge on how and where you want to live. To Work or Not to Work Those who have spent their life punching a time clock, working long hours, or running their own business often fantasize about having all the time in the world during retirement. Yet, leaving the workforce can be a traumatic experience for some. You might not be emotionally ready to retire, and that is perfectly okay. Each person is different; and, unless you are a commercial pilot or have another profession with mandatory retirement age, you don’t have to call it quits until you feel ready. Financial needs might dictate if, or how much you need to work during retirement. For others, too much time on their hands results in boredom and sometimes, even depression. When you are planning your retirement, you need to evaluate if you want and need to work, how much time per week, or how much income you need or want to make. Living the Good Life by Eliminating Debt When you near retirement, you might choose to work, but it’s ideal if you aren’t forced to. Eliminating your debt prior to retirement will help reduce your monthly income need. Start with any credit card debt, outstanding loans for cars, boats, and other toys, and any other money you owe. If you still owe money on real estate, you should work on paying down or paying off any mortgages on your primary residence and any vacation properties you own. You will still have monthly expenses such as utilities and insurance premiums, but you can live a higher quality of life when you aren’t paying debt once you choose to quit working. Determine a Preliminary Monthly Budget Once you have an idea of your retirement goals, where you want to live, and whether you want to work, you need to determine how much your monthly expenses will be and how much income you need to support them when you retire. These numbers won’t be exact but having some idea will help you make decisions about housing and the extent to which you need to work. Calculating a preliminary monthly budget requires examining your retirement income streams, which can include: Pension benefits Social Security benefits Traditional IRA accounts, Roth IRAs, and SEPs One or more of several types of annuities Your monthly income amount from all of these sources can vary based on the age you choose to retire. In fact, if you choose to take withdrawals from some retirement accounts prior to age 59 1/2, you might face a 10 percent penalty on top of regular income tax. Similarly, each year you wait beyond your Full Retirement Age, up to age 70, to collect Social Security benefits, your monthly benefits will increase by eight percent. No additional benefits exist to start collecting Social Security benefits beyond age 70. Aside from evaluating your monthly income and expenses, you also need to consider any family obligations you might have. Do you have adult children with special needs or other dependents for which you need to provide? Will you continue any support you provide after retirement? Do you want to help grandchildren pay for college? Plan for Healthcare Once you reach age 65, you are eligible for Medicare. You have the option to choose Original Medicare or Medicare Advantage, as well as the Prescription Drug Plan. While some Medicare options cost less than others, you still need to plan for premiums, deductibles, co-payments, and services not covered by your plan. If you plan to retire before age 65, you will need to determine how you plan on covering health care costs until Medicare kicks in. Other healthcare things you need to plan for include vision and dental services not covered by Medicare, as well as long-term care. Medicare only pays for medically necessary nursing home expenses, and you have to meet very strict criteria to be approved. There are a number of long-term care insurance plans which exist to help provide a host of services that aren’t covered by regular health insurance. This coverage is designed to include assistance with your routine daily activities, like bathing, dressing, or getting in and out of bed. A long-term care insurance policy helps cover the costs of those routine daily activities when you have a chronic medical condition, a disability, or a disorder such as Alzheimer’s disease. Most long-term care policies will reimburse you for the care given in a variety of locations, such as: Your home. A nursing home. An assisted living facility. An adult daycare center. Using your personal savings and investments, as well as home equity also could provide a solution for long-term care expenses. Planning for long-term care expenses is especially important when someone loses a spouse or doesn’t have anyone to help with daily care.

Your top producer is such a superstar that it makes sense to promote him or her into management, right? Maybe not. Remember the classic “Peter Principle”? It was Laurence J. Peter’s management concept that in any kind of hierarchy, people tend to rise to their “level of incompetence.” In other words, as people are promoted, they tend to become progressively less effective because good performance in one job does not guarantee similar performance in another. A lot of managers look at their star performers and think, “Wow, this person would be dynamite as a sales manager!” Often, top performers are excited about the promotion, and they don’t want to let their bosses down, so they take the job. Once promoted into management, great salespeople often struggle to succeed in the new role. Performing and leading others to perform are two entirely different skills. Tiger Woods isn’t known as a great golf coach, and you don’t see LeBron James conducting shootarounds. Their gift is in their performance, and great coaches know that. Common Downsides What happens when you promote your top producer into management, and it’s not a good fit? There are several downsides to this common scenario: You lose the star producer’s substantial production. If he or she doesn’t like the management role, you might lose him or her to another company or even industry. New associates might leave your firm or agency because they want strong leadership from the new manager but aren’t getting it. The Solution: Identify Potential Sales Leaders and Train Them So how can you identify your next talented manager? Gauge interest. First, find out who is genuinely interested. If you are looking for a manager, let everyone in your firm or agency know that, and encourage those who are interested to come to talk with you. Define success in the role. Next, write down what success in the management role looks like. What personality traits are you looking for? What types of competencies does the manager need to have? By what metrics will you measure their success? Assess potential. You could rely on your own experience to determine who has the best chance of succeeding. For example, if you determine that one goal for your new manager is to hire 20 new agents or advisors in one year, ask your top candidates for the position how they would accomplish that. If you want a more scientific way to assess leadership potential, turn to online assessments; many are available. Train the new manager. Once you have selected the best candidate, provide training before having him or her assume the responsibilities of the management role. Have a contingency plan ready. Sometimes people get into management and realize they don’t like it. Plan for that possibility. Give the new manager six months or a year to discover if he or she likes the new role and if it looks like a good fit for the company. If not, allow the manager to return to production or fill another role. You don’t want to lose great talent just because the person is in the wrong role.

Training is an important investment in the people who represent your organization and drive revenue. When you train people, it makes them more valuable to your organization and helps you retain them. We can’t expect that people will arrive at our firms and agencies already knowing what they need to know to excel in this often difficult career. There is no DNA that delivers great sales skills. Today’s Employees Want to Learn and Grow in Their Careers Today’s employees, especially millennials, fundamentally think about their jobs as an opportunity to learn and grow. Their strong desire for development is the greatest differentiator between them and all other generations in the workplace today. They seek development in career opportunities, and when it is not delivered, they look elsewhere. Business Week reported that companies that don’t train their employees are three times more likely to lose them than companies that. Today’s progressive organizations realize the financial impact that training delivers to their bottom line. ________ E-learning: A high-impact, cost-effective, efficient way to train, compared to classroom training: Requires 40 to 60 percent less training time Increases retention rates by 25 to 60 percent Delivers nearly five times more material Generates 26 percent more revenue per employee Source: “Facts and Stats That Reveal the Power of eLearning”, April 7, 2016, Shift eLearning. ________ Close the Skills Gap with a Well-Developed Methodology But effective training is so much more than just having course material. It’s about having a methodology to deliver the skills, knowledge and easy-to-understand explanations in a way that fits everyone’s busy lifestyle. Time is a limited commodity, so training must be delivered in bite-sized yet comprehensive and engaging pieces. Today’s professionals want short videos and podcasts that are easy to use, easy to understand and accessible on demand. This type of training can easily be a game-changer for busy, on-the-go people. In our industry, there is a skill gap when it comes to agents and advisors, as well as those in leadership and support staff. Unfortunately, many organizations are attacking the problem the wrong way. There is a better approach that can actually solve the problem by providing competency-based learning. This type of learning gives people a voice in not only what they need, but in when and how they get it. Giving your team members access to everything they need, as individuals, is the only approach that intrinsically motivates a person to close the skill gap. This competency-based learning approach not only creates a real solution to the problem; it also ensures that organizations and practices are maximizing their investment in developing people. Are you ready to finally close skill gaps in your organization? “The only thing worse than training your employees and having them leave is not training them and having them stay.” —Henry Ford Differentiate Your Firm or Agency with Constantly Updated Training Without a doubt, recruiting is a manager’s top priority in growing a firm or unit. Today, it’s almost impossible to differentiate yourself with products, underwriting or compensation. LIMRA tells us that millennials and female recruits are heavily swayed by the ongoing training and educational programs organizations offer, as well as the technology through which they will deliver the training. It’s so much more than just having a Learning Management Platform (LMS); it’s about offering constantly updated content. The content not only needs to meet your firm’s training objectives; it also needs to deliver the resources, insights and knowledge that each team member wants, needs and can easily access at any time and from anywhere. Everyone has different needs and skill gaps. Offering a wide variety of customized training will help all your team members address their individual practice and client situations. Here’s a fact that both beginners and seasoned pros need to remember: the better you understand all the concepts, ideas and products you sell, the better you can explain them to potential customers. That will ultimately lead to building stronger relationships, more opportunities to help and serve those in the community, and more referrals. All good stuff, you have to admit.

What is an Accountability Culture? In our recent whitepaper on virtual accountability, we defined personal accountability as “delivering on a commitment and accepting responsibility for the outcome.” Personal accountability is an internal force that drives behavior. Your agents and advisors can choose to hold themselves accountable. At best, you can impose consequences; you can’t compel them to feel personally accountable. However, what you can do as a leader is create a culture that supports and nurtures accountability by applying what we call the three E’s: Expectations, Environment, and Encouragement. In their book, How Did That Happen? Holding People Accountable for Results the Positive, Principled Way, the authors define an accountability culture as: “a place where people think and act, on a daily basis, in the manner necessary to develop successful solutions, find answers, overcome obstacles, triumph over any trouble that might come along, and deliver results. People in a culture of accountability follow through to make sure they do what they say they will do, commit themselves to get to the truth, no matter what, and feel free to say what needs to be said.”1 Clarifying expectations, creating an environment that recognizes and reinforces accountability, and providing encouragement and support are the steps to building the kind of culture the authors describe. In this post, we take a more in-depth look at clarifying and communicating expectations for a remote workforce. Building Trust through Expectations At its core, accountability is about trust. You trust that your agents, advisors, and staff will perform the required activities to achieve results. Your agents, advisors, and staff trust that you will provide the leadership, resources, and guidance they need to succeed. In his best-selling book, The Speed of Trust, author Stephen M.R. Covey identifies clarifying expectations as one of the critical behaviors for building trust. To build trust through expectations, Covey says: “Create a shared vision and agreement about what is to be done upfront. If you don’t do this upfront, you will have trust issues later. Check for clarity. Disclose and reveal expectations. Discuss them. Validate them. Renegotiate them if needed and possible. Don’t violate expectations. Don’t assume that expectations are clear or shared.”2 Remote-Work Expectations For leaders in financial services, the kind of rigor Covey describes in setting and communicating expectations is common when discussing productivity and performance. Have you also established expectations regarding remote work? Remote-work expectations to consider include: Availability. Do you expect members of your team to be available during core work hours? People are juggling additional responsibilities during the pandemic. They may be managing homeschooling for their children as well as managing their practices. If you have expectations about their availability while working from home, be sure to communicate these and work with our team members to address challenges. Response Time. Are there standards regarding responding to messages from clients and other team members? Even if you decide not to establish specific criteria for response times, it’s a good idea to give guidelines to your team. Agreeing, for example, that team members include in voicemail or email messages when a request is urgent or has a deadline. Meetings. Is attendance at meetings required? Participation in meetings that were optional when everyone was working in the office might now be necessary. If your expectations have changed, be sure to communicate this to all team members. The same applies to your expectations about participation in meetings. Do you expect each team member to report out? Are there specific agenda items to be addressed? Communications. How frequently will you plan to check in on your team? When do you expect them to check in with you? Frequent and consistent communication is especially important for newer agents and advisors who may feel uncomfortable asking for help. Leaders in our onboarding study have significantly increased their contacts with new agents and advisors to keep them on track and to bolster their sense of belonging. Technology. What level of expertise does your team have in using videoconferencing, collaboration, or messaging technology, and what are your expectations regarding learning these tools? Do you expect team members to have a contingency plan in place should they run into technical issues? Even a request as simple as, “I expect everyone to turn on their video during our all-team virtual meeting” helps to establish clear expectations regarding remote work. Work-From-Home Policies. These policies typically cover items such as sick time and vacation time while working from home and can be especially useful in clarifying expectations for staff. Other topics often covered are expectations regarding the work environment and information security. Your company’s human resources team can help you establish a policy if you don’t already have one. Accountability Starts in the Recruiting Process Screening candidates for strong remote-work skills such as self-motivation (see our Virtual Recruiting and Selection white paper) is the first step in creating an accountability culture. Remote work is not for everyone. The candidates you select should be just as motivated working from home as they would be in the office. Notice that Covey says to “create an agreement about what is to be done upfront.” Be sure to discuss remote work expectations with candidates during the recruiting and selection process just as you do activity and productivity expectations. Practice Accountability Practicing accountability is another of the behaviors that Covey identifies for building trust. He writes: “There are two key dimensions to this Practice Accountability. The first is to hold yourself accountable; the second is to hold others accountable. Leaders who generate trust do both… When people—particularly leaders—hold themselves accountable, it encourages others to do the same… It also creates an environment of openness and trust.” Trust is a two-way street. Your team is trusting you to hold yourself accountable for providing the encouragement, resources, and support they need to succeed and for creating an environment that encourages and appreciates personal accountability. How are Field Leaders Adapting Their Processes for Virtual Accountability? To learn more about the virtual accountability strategies that agency and firm leaders are using with their remote work teams, download our Virtual Accountability research whitepaper. 1 Connors, R., & Smith, T. (2011). How Did That Happen?: Holding People Accountable for Results the Positive, Principled Way (Reprint ed.). Portfolio Trade. 2 Covey, S. M., Covey, S. R., & Merrill, R. R. (2008). The SPEED of Trust: The One Thing That Changes Everything (Reprint ed.). Franklin Covey.

It is important to measure the effectiveness of training, yet many organizations don’t take the initiative to do so. If you don’t measure the impact, you won’t know whether your training is worth your investment. According to a study carried out by the Association for Talent Development, or ATD (formerly the American Society of Training & Development, or ASTD), only 35 percent of talent development professionals evaluate the business impact of their learning programs. The study noted that measuring the impact of training can encourage better work from employees and help you prioritize and allocate resources. Whether you use classroom training, e-learning, or a combination of both, measuring results will help you discover how effective the training is. It also can help you improve your training methods. Studies show that today’s learners expect the creativity and flexibility that e-learning provides. Measure Your ROI The most obvious way to measure your training program is to assess the return on investment. This involves simply comparing the cost of the training with returns from sales or other measures to evaluate the monetary value your organization gains. Dr. Kirkpatrick’s Four-Step Method for Evaluating Training Decades ago, Donald Kirkpatrick, Professor Emeritus at the University of Wisconsin and a past president of ATD, developed a four-level process for evaluating training, and it is still useful today. He first published his Four-Level Training Evaluation Model in 1959, in the US Training and Development Journal. He updated the model in 1975 and again in 1994, when he published his best-known work, Evaluating Training Programs. Here is a brief overview of the four levels he defined: Level 1: Reaction – Through an analysis of participants’ reactions to the training, you can determine the level of satisfaction they derived and the relevance of the materials used. Level 2: Learning – In measuring learning, the focus is on establishing the degree of skills, attitudes, and knowledge that participants have received during a training session. Level 3: Behavior – It’s impossible to predict how any trainee is going to transfer the knowledge gained during the training session to the actual workplace. For this reason, some measurements are initiated several weeks after the training. Level 4: Results – At level 4, the focus is to learn how the training you have presented impacts your business by measuring factors like return on investment, increased productivity, and a lower rate of employee turnover. Using these qualitative and quantitative measures of your training program’s value will guide your decisions about future training. Measuring training results will keep you from wasting time, money, and effort on training that isn’t moving your company or firm forward.

Organizations spend hundreds of thousands if not millions of dollars purchasing or building their training management system. This is to provide internal collaborators and the sales team with a central location for training and development. However, most organizations face lackluster adoption in their LMS and struggle to get key audiences to consume content. The following adoption pattern is the same throughout the LMS world: 1/3 will use the program a lot; 1/3 will use it averagely; and 1/3 will use it very little and never! To drive adoption and increase the success of your LMS, it is essential to engage with strategic partners who have not only developed engaging content, but have also developed proven functionality to drive adoption. Here are some benefits of taking this approach: Credibility through Field-Friendly Content A fundamental principle of learning is that adults are motivated by learning that helps them achieve a goal or solve a problem. Whether they want to move into a management position, increase retention, or penetrate new markets, financial services professionals will be more motivated, will retain more, and are more likely to apply learning that serves a specific purpose. Through videos, case studies, assessments, and other media, an effective digital learning experience regularly reinforces the why behind the learning, not just the how. And since effective digital learning programs typically consist of brief, tightly focused microlearning modules, learners can select modules that have the most relevance for achieving their goals. Personalized There is a certain amount of content that companies must develop internally, such as internal product and process content. However, when companies try to develop content like business skills that really need a greater business perspective, that content usually has no effect. This content generally lacks a commercial perspective and is not perceived as credible by the sales team. Therefore, it is prudent for companies to strategically partner with content providers who have developed content considered by commercials, created by commercials and for use by commercials. Functionality designed to drive adoption Hoopis Performance Network has sought feedback from our 50,000+ subscribers over the years on how they want to consume content. These are agency business managers and consultants who tell us directly what would drive adoption. So we’ve built functionality into our learning platforms based on this feedback. For example, managers want to be able to prescribe content to advisors and easily verify consumption of that content. Advisors want access to a personalized dashboard for their learning experience where they can save specific content much like a Spotify or iTunes playlist. Strategic partnering with content providers that offer agile platform functionality greatly increases the value of an existing LMS through greater adoption. Allows you to focus on execution A typical image of the industry is as follows. Training departments spend valuable time and money developing all their LMS content to deliver to the sales team. Once completed, the content is added to the LMS and the training department focuses on the next creation project without spending the time necessary for the execution and adoption of the newly released content. A smarter alternative is to focus on developing content for internal products and processes while leveraging other content from strategic partners so that the training department can focus on execution and adoption strategies. Agility enables contemporary content Practical learning is related to, but not the same as, actionable learning. Actionable learning ensures learners have takeaways they can apply immediately. Practical learning takes into account different on-the-job situations to ensure learners have resources at a specific moment of need. A comprehensive digital learning platform includes resources to support five moments of need: new, more, apply, solve, and change. The Five Moments of Need In today’s fast-paced and ever-changing world, content needs to be updated regularly. Since the role of most training departments is not solely to develop content, it becomes a big challenge to continuously develop contemporary content. Content development is the sole focus of content providers. Therefore, strategically partnering with content providers will ensure that you are bringing the most up-to-date content to your key stakeholders.

The million-dollar question on the minds of many of our clients is: “How do we increase adoption of our training management system (LMS) and create engaging content to drive activity?” Hundreds of thousands, if not millions of dollars are invested in building or licensing training management systems. And applying an “If we build it, they will come” strategy always fails. You must develop engaging content that makes members of your organization (internal and business employees) interested in consuming the content. If you can develop highly engaging content, they will come back for more and more. So how do you go about achieving this? Listen to What Your Stakeholders Want Many times, organizations will develop content to check the corporate list of mandates to complete their LMS. There are definitely internal products and processes where training content will need to be created to narrow down the list. However, when was the last time you surveyed the sales team to determine what they would prefer in terms of content? What are your main platforms or most popular breakout sessions at your conferences? Have you captured those topics on video to distribute as content? Developing Contemporary Content In today’s fast-paced and ever-changing world, content needs to be updated regularly. Since the role of most training departments is not solely to develop content, it becomes very challenging to continually develop contemporary content. Especially with today’s compliance standards and the problems that worker regulations present. Therefore, strategically partner with content providers that ensure the most up-to-date content is delivered to your key teams. Contemporary content will increase engagement, especially among Millennials. And this allows the head office to focus on developing content for products and processes that do not need to be updated as frequently, since they are considered more “stable.” Feature Designed to Drive Adoption Hoopis Performance Network has sought feedback from our 50,000+ subscribers over the years on how they want to consume content. These are agency managers and advisors telling us directly what would drive adoption. Therefore, we have developed functionality in our learning platforms based on this feedback. For example, managers want to be able to prescribe content to advisors and easily verify consumption of that content. Advisors want access to a personalized dashboard for their learning experience where they can save specific content much like a Spotify or iTunes playlist. Strategic partnering with content providers that offer agile platform functionality greatly increases the value of an existing LMS through greater adoption Organizations have two options: incorporate an LMS that provides this contemporary, agile functionality (which most consider to be too cumbersome). Or don’t bother linking to a third-party content platform that is privately labeled by your company and allows seamless access to certain content and functionality designed to drive adoption. Conclusion With short attention spans and busy schedules, getting stakeholders to consume content in your LMS has become a major challenge. By soliciting feedback on what content their business teams are looking to consume, keeping the content contemporary, up-to-date, and developing functionality that makes the content easier to consume, businesses will be more likely to increase adoption within their LMS.

With the growing cost of distribution and budgets being scrutinized, financial organizations will have to begin identifying more cost-effective methods to deliver training and development that are scalable. In addition, the trend from the last decade where each firm is “entrepreneurial” and allowed to do it “their way” locally is, quite frankly, a failing model. This approach creates inconsistencies across the organization and limits cultural best practices from being identified. Benefits of Scaling Subject Matter Expertise Distribution leaders and heads of learning & development will need to focus on developing training programs where the primary delivery of subject matter expertise is via online streaming video. This removes an extensive amount of work and “heavy lifting” off the shoulders of home office trainers and field managers. This allows the facilitator’s primary role to simply be to facilitate the program by leading discussions, conducting debriefing activities, and providing practical insights on certain topics. Ultimately, this ensures the quality and consistency of program delivery across the enterprise. As we like to say at HPN, “the streaming video never has a bad day”! It also creates scale by significantly reducing costs to deliver training at the local level. The Flip Side – Inconsistent Learning Experiences Let’s look at the flip side. Most sales effectiveness programs are not designed to ensure consistency and scalability. Typically, the person leading the training, who many times is a manager in the field, must become the subject matter expert and the bulk of the program delivery relies on the quality of that facilitator. Therefore, the training experience varies from location to location depending on the knowledge and skills of the manager. And because of the amount of preparation required to deliver the program effectively, managers slip back into ditching the material and conducting off-the-cuff training by telling “war stories” which is not learning & development! The Scaling Perils of a Third-Party Trainer As an alternative approach, companies have the option to license training from a third-party, proprietary facilitator who runs the program locally. However, this becomes cost-prohibitive due to the travel expenses and daily facilitation fees incurred to hire to an expert to deliver the program. Plus, many of these training companies are built around a franchise model where there is a different franchisee trainer in each city. This results in not only varied results but also your training experience being only as good as your local facilitator. Conclusion We all know the definition of insanity. Moving forward, financial services companies will have two choices: Either create scale and consistency by building learning and development programs internally or leverage the expertise of an outside strategic partner that has a successful track record of executing this strategy. Leveraging a strategic partner to develop certain training has been proven to be a much more cost-effective, time-efficient approach.

Creating your content platform is a vital step in today’s digital age. The ideal situation is to have your marketing, creative, and sales teams aligned using your content, but that doesn’t always happen. The other problem is that a surprisingly large amount of marketing material sits unused on a storage shelf or server for a long time. Sounds like a waste of resources, right? The question is, how to effectively create or purchase your content platform to maximize efficiency and streamline processes? There’s a lot to unpack here, so let’s get started. Time This is about maximizing efficiency so time is of the utmost importance. Consider the time it takes to research, develop, train, and deploy your new content and this is a key factor in the decision. Evaluate how much time each of these steps would cost your company. If creation takes longer when purchasing content would be sufficient, save that time. There’s no point in launching an entire campaign, taking long periods, and setting distant deadlines when a few clicks could create better content and engagement. Cost Cost is not just about monetary signs on a spreadsheet. To create truly profitable and compelling content, you need to look at all of your available resources. This means both your budget and your people. Content creation in this case will require dedicated research, development, training and implementation teams. If you have the budget to coordinate informative content based on real-world research, it is almost always more valuable than purchased content. However, sometimes purchasing content has a steeper entry point than creating it in-house, so be sure to involve every aspect of your operation to grow your brand. Expertise Often your content needs to be very specific to your brand. That contains and requires a deep understanding of its topic. The general rule is that if you have to educate someone else too much about your topic, you are breaking the above rules of time and cost. In these cases, it is better to create the content yourself. After all, they are the experts in your company. Simpler and more accessible verticals require less research, where purchasing is always an option. ROI The root of everything is the return on investment. What’s the point of creating or purchasing content if you don’t get a positive return on investment? This topic is more of a summary of his perspective. Carefully consider every aspect from cost, time and expertise. What do you need the content for? How will you use it? How long will it remain relevant? After considering cost, content, and time, you need to determine what type of result you expect from purchasing or creating your content. There is no easy answer to this question. You can break it down a thousand ways and get different answers. Some other options to consider that may influence your decision are as follows: How accessible is the content to your audience? None of this matters if your content is not easily accessible. Do your users constantly use your information? Would it work better sorted by themes or locations? While creating a content platform is important, it’s also vital to consider how your team will use it in everyday functions and interactions. The most important thing you can do as a decision maker is to provide your teams and users with agile information that they can use to drive their ideas. Content performance isn’t limited to your internal team either. Branding Efforts is the dynamic force that propels your business toward new endeavors. How well can you maintain your information? Keeping your brand highlighted helps solidify your company’s position as a powerhouse in your competitive environment. When every piece of content you create further reinforces your message, you’re doing a good job. Creating content in-house will allow you complete control over what type of content you are creating and what message you are sharing. When you purchase from outside resources, you lose the ability to articulate your message. You Should Buy When: ROI is higher You lack the internal resources to build, maintain and support up-to-date learning for your team or organization The content is developed by trusted industry experts. You have little time Ready content meets your training requirements. You Should Build When: The content you need is confidential or highly specialized Your organization has many resources and a well-thought-out training strategy The problem you are facing does not offer an available solution You have the resources to maintain and support the learning necessary for your team