Qorus Banking Innovation Awards 2023

Personalization of Employee Training needs using Advanced NLP

premium
Q+
20/09/2023 Banking Innovation

About

A First-of-its-kind advanced Natural Language Processing (NLP) solution in the field of personalized employee learning and development (L&D). The solution analyses unstructured employee text data, enabling precise grouping of feedback into relevant topics. This pioneering approach was achieved through integration of Latent Dirichlet Allocation (LDA) & Non-negative Matrix Factorization (NMF) techniques

Innovation presentation

Background

The introduction of this innovation was prompted by the HR department's possession of extensive textual data contained in annual appraisal survey forms. Analysing and creating a scalable solution to extract insights from this text data proved challenging. The traditional approach involved manual analysis of a sample data subset, which was far from exhaustive.

Innovative Solution

Consequently, the decision was made to embark on a pilot project aimed at developing an NLP engine capable of accurately classifying free-form text into distinct topic clusters. The primary objective was to utilize this technology for personalizing employee L&D goals based on comments by both appraisers and employees.

Cutting edge technologies

Techniques:

At the core of the innovation were two powerful techniques: LDA and NMF. By applying LDA, hidden topics within the feedback could be uncovered, identifying specific areas for improvement. NMF further refined this analysis, enabling extraction of actionable insights with remarkable precision.

Infrastructure:

Open-source Python libraries were employed on a powerful on-prem server (512 GB of RAM and 32 CPU cores) in a multi-threaded environment to execute this advanced NLP model.

Uniqueness of the project

Following are some of the USPs of the project:

Unparalleled Personalization: Through meticulous analysis of employee feedback, personalized learning recommendations were provided that cater to each employee's unique needs and aspirations. It revolutionized L&D by effectively tailoring offerings for 95% of the employees (65% attributed to employees and 30% courtesy appraisers). This solution outbids the conventional word cloud or bar plot analysis in terms of accuracy.

Optimal utilization of L&D budget: The solution provided invaluable guidance to the HR team in terms of allocating budget and resources to L&D programs that were most likely to yield the highest return on investment.

Integration with Employee Learning Platform: The output generated by this model served as an input for our newly launched MPower LMX platform. This integration allowed us to personalize the landing page of our L&D website according to each employee's specific needs, further enhancing the user experience and engagement.

Enhanced Efficiency: By automating the analysis of vast amounts of unstructured data, this solution saved valuable time and resources (TAT reduced from 2 months to a day) while ensuring that personalized growth opportunities were identified promptly.

Scalability: The scalability of the solution is noteworthy, as it can extract relevant topics from millions of records in just a matter of minutes.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

12/04/2024 Insurance Innovation

AI Lead Qualification System by K2G

Our AI-Driven Instant Lead Qualification tool revolutionizes how insurance companies acquire clients, close deals and optimize marketing. It empowers insurers...

12/04/2024 Insurance Innovation

Chubb’s B2B2C E-Commerce Digital Insurance

Through an extensive process of joint experiments with e-commerce companies, Chubb has designed a suite of digital products and services...

12/04/2024 Insurance Innovation

AmiGGoapp, the Free & Guaranteed vehicle replacement solution for Car Workshops, Insurers & Users

IIntroducing AmiGGoapp: A Paradigm Shift in Mobility During Vehicle Downtime. In today’s fast-paced world, mobility is not just convenience; it’s...

12/04/2024 Insurance Innovation

Industry-Classifier

The sale of commercial insurance is becoming increasingly important, but it is challenging and requires experience. The identification of the...

Related news & insights

Digital Reinvention
11/04/2024 Interview

Banca Widiba takes gold: Transforming financial advisory teams with innovative approach

Banca Widiba snagged the New Ways of Working gold award for ‘The Financial Advisors Team’ at the Qorus Reinvention Awards...

Insurance
08/04/2024 Article

Insurance Innovation of the Month: Caminhos by Bradesco Seguros

This month’s Qorus Insurance Innovation award goes to Bradesco Seguros for Caminhos, a unique mentoring program designed to support and...

Insurance
08/04/2024 News

AXA and AWS team up to revolutionize global risk management

AXA, a leader in insurance and asset management, has partnered with Amazon Web Services (AWS) to develop the AXA Digital...

Digital Reinvention
01/04/2024 News

Akbank LAB unveils revamped innovation center for Entrepreneurship Week

Akbank recently launched its renovated innovation hub, Akbank LAB, as part of Entrepreneurship Week. Burcu Civelek Yüce, Deputy General Manager...