Training & Development - Human Resource Assignment is attached

Course Outcome

• Evaluate a needs assessment and needs analysis, including when they should be performed.
  

For this essay, you will explore the importance of conducting a needs assessment and needs analysis within a bank that is implementing FedNow, the real-time payments system. You will be tasked with evaluating when and how these processes should be performed to ensure a seamless transition to FedNow, while enhancing employee development and supporting the bank’s commitment to modernization.

Scenario:

Imagine you are the Training and Development Manager at “American Bank,” a mid-sized bank that has decided to implement the FedNow service to provide real-time payments to customers. The introduction of FedNow represents a significant shift in the way banking operations are currently conducted. Your task is to conduct a comprehensive needs assessment and needs analysis to determine the training requirements for American Bank’s employees as they prepare for the implementation of FedNow.

Watch the 3-minute, 28-second video below titled “How the FedNow Service Works” by Federal Reserve Bank Services.

How the FedNow Service Works

After you watch the video, write at least a 750-word essay that addresses the following:

• Needs Assessment:

  • Describe the methods and techniques used to conduct a needs assessment and when they should be performed.

  • Explain why a needs assessment is essential for aligning employee development with the demand of FedNow and the evolving banking landscape.

• Needs Analysis:

  • Discuss the components of needs analysis, including organizational analysis, job analysis, and person analysis and evaluate when each should be performed.

  • Explain how these components will help identify the specific training needs of American Bank’s employees prior to implementing FedNow.

• Timing and Importance:

  • Explore when the needs assessment and needs analysis should be performed.

  • Discuss the potential consequences of conducting these processes too early or too late and provide an example from the banking or technology industry.

• Challenges and Ethical Considerations:

  • Discuss potential challenges and ethical considerations that may arise during the needs assessment and analysis process, such as data privacy, potential biases, and ensuring employee engagement.

• APA formatting required

• At least 2 scholarly sources with appropriate in-text citations