 Good evening everybody. My name is Anand Agarwal. I'm the CEO of edX and a professor at MIT. I am joined by Alok Kumar Chaudhary, who is a chief CHRO, the chief human resources officer of the state bank of India. It's a top position at the bank and particularly when the bank has, I was amazed to hear this, 250,000 employees all over the country. All of you have seen state bank divisions in all the neighborhoods and towns that you live in and Alok Kumar is the chief human resources officer for the bank. In this session, we are going to discuss how the future of work is going to evolve and what education and learning has to do in the corporate environment. But most importantly, we will hear and discuss from Alok how he and his team are innovating for learning and development at the state bank of India. How do you create the motivations to have large pools of employees learn and work? So before we get to that, let me provide you with a quick overview of edX and the future of work and learning. Could I please have the presentation up on the screen please? Okay, so let me go through a few of these important points about the future of work and learning. So first of all, edX is the world's largest learning platform. It is a place, it's a nonprofit founded by Harvard and MIT. In our platform, we have courses and content from some of the top institutions in the world like Harvard, MIT, Berkeley, IBM, Amazon, web services, IIT Bombay, IIT, IAM, Bangalore, and others who create these contents and programs on edX. And then we have learners, individuals from all over the world learning on our platform and also corporations from all over the world like State Bank of India. So today, we have more than 33 million unique students and corporate learners on our platform. We have more than 1,000 corporations taking programs from edX. And the State Bank of India is one such example. We have 3,000 courses available on our platform that can be used by corporations or learners to learn on our platform. It is not surprising that everything is going digital. The borrowers learning whether it's individual or whether it's in the corporate world will be digital. We are looking for learning to become more personalized, more self-directed learning where people will learn at their own pace. We're expecting learning to become more flexible where people will be learning anywhere anytime, mobile, on demand, so it fits into busy lifestyles and connected. But you will be connecting with your peers and colleagues as you are learning at the same time. Now as we were doing online learning, the world, the entire world was hammered by coronavirus. And this suddenly dramatically increased the importance of online learning. Not surprisingly, on edX, we saw a 15 times increase in the number of unique people coming to edX to learn 15 times post coronavirus. As an example, in the month of April, we had 5 million unique students come to edX to learn. And that was the same number as in all of 2019. So 15 times higher number of people coming to learn during coronavirus and online learning now, whether in the corporate world or individually, or in universities or campuses, has become a complete staple around the world. People are taking courses in all kinds of new areas. Many of these areas are pandemic proof that they are also proof, also resilient to downturns in business, topics like artificial intelligence, communication, cybersecurity, writing, leadership, computer science, all very important topics. And when we talk with State Bank of India and Alok Kumar, their CHRO, you will hear how leadership is very, very important and innovation is very, very important. And people can learn all of that. A typical edX course is of course online. And the basic methodology is called active learning. With active learning, you're not sitting in a lecture hall for one hour and listening to a professor keep talking for one hour. Instead, it is very engaging. It's called active learning. You see short videos, 5 to 10 minute videos, interleaved with interactive exercises so that you are learning and applying your knowledge at the same time. And this makes learning have much better outcomes. And this is a proven technology. Data proves it. Here's some results for testing done by MIT brain and cognitive scientists for corporate learning. So they did some testing with corporate learners, showing them just long videos. And compared to what they call interpolated testing or active learning, short videos and interleaved exercises. And you can see that the learning outcomes as shown in the bars here for active learning is simply much better for corporate learning than just showing people vanilla videos without the active learning concept. For the learner, you always need motivations as to why should somebody learn. And Alok Kumar will talk about some amazing innovative techniques that he has put together at the bank push and pull motivations to have people learn. One of the pull motivations is certificates. When someone completes a course on edX, they get a certificate of achievement that they can put on their resume, on their LinkedIn profile, they can share with family and friends. So here's a certificate attained by Amit Goyal who heads up our offices in India. He has a certificate of achievement from Oxford University. So sitting in your home in India or in your offices in Mumbai, you can be earning certificates from top institutions around the world. edX for business is edX's corporate offering. And you see some of the amazing corporations from India and elsewhere that are having their employees take our courses. State Bank of India is one of our biggest partners, not just in India but around the world. Our partners include Accenture, GE, Goldman Sachs. These corporates are learning with India. Tech Mahindra is another major learning partner within India. Learning outcomes in India are amazing. We are getting with the right incentives. In India, we're getting a 90% completion rate for MOOCs and our courses that are being offered. We have more than 1,000 corporate customers at edX. More than one lakh employees are taking our courses and this number is growing exponentially. So why are corporates using our MOOCs and courses for upskilling? What is amazing is that just three years ago in a poll, 71% of hiring managers did not know what a MOOC was. A MOOC is a massive open online course. They did not know what this online course was, 71%. But three years later, 100 million MOOC learners are self-educating for some of the top-in-demand jobs in the field and coronavirus simply accelerated this trend. New credentials are completely changing the game where corporate managers are noticing and are recognizing these new credentials such as micromasters, microbachelors and professional certificates. These are being recognized when hiring and making promotions. Today, over 3,500 companies are using MOOCs for hiring and promotions and upskilling and we'll hear more from Alok as he talks about that. edX has an amazing partnership with the State Bank of India. We've had an incredible journey over the past three years. We've had 524% year-on-year growth in the number of learners. It's really exponential at the State Bank of India in our partnership with them. The top courses being taken are in topics like leadership, in topics like communication, computer science and business. Leadership is part of business and this is a pie chart of the areas where the courses are. With that, I am going to pause my prepared remarks and when we are done, I encourage you to visit the edX business service booth, the virtual booth of the conference. You can also visit business.edx.org slash shrm to learn more about this business and how you can find out more about us or you can email amit goyal at edX.org if your corporate is interested in working with us to upskill your employees. With that, I am going to transition and please you can stop the presentation now. I am going to introduce Alok Kumar Chaudhary very briefly again. Alok Kumar is the Chief Human Resources Officer at the State Bank of India and he has done some amazing work at the bank in creating push-and-pull incentives to upskill and bring a large group of employees, 2,50,000 employees at the bank into 21st century learning. So with that, Alok, I invite you to make a few remarks to our audience. Good evening to all the professionals and the descending viewers of the session today. It's an honor for me to be with you because I know that you all are top most professionals who alone could have invested their time and energy and resources for attending this webinar by shrm, one of the best in the industry. I work in the State Bank of India. There's no spoken so many times. So before I delve deep into the learning and development work, what the perspective of State Bank of India has, let me create a small canvas for painting all the work we do in the State Bank of India. Say born in 1806, we create customers, 70,000 7 megacons. It's opening everyday rubber branches and 43 lakh customers we keep with us. They have the trust in us and 32 lakh crore of Indian rupees. They have deposited with us as the trust money, which we intermediate in loans and advances. We have around 24% of the banking markets here in India. We are there in 32 countries with around 233 offices. We have 22,000 branches in India in the day of all the different geographies from Kargil to Kanyakumari with 58,000 ATMs and 61,000 branch alike. That is the for CSP's customer service points, which you would be seeing, which is dotting around all the places in the country, an internet banking channel and all. So now this customer acquisition, retention, creation of business, doing their payments, settlement needs, giving advisories to them, giving capital and debt to them for doing their businesses. This is a huge work, which all of us are doing. And then we have CQD's and JV's and associates, which two different kinds of banking or financial functions, so to say. Now all this, like they say that the business, the basic purpose of business is creating customers and keeping them. So this is done by 250,000 employees. And now these 250,000 employees, there is a different kind of context about saying this. These are all employees who are wedded to the bank. They hinted the bank that he is around 2025 and retired by 60. So we have hardly around 900,000 people who are contractual employees and we work for five, six years with us and then they go. So these employees, they have been managing the bank since tool 1806 and 1921 we changed to Imperial Bank of India from Presidency Bank and there in 55 we became a State Bank of India. So initially what was thought like all of the Britishers used to come in this at a younger age and it was found that we require more professional way of recruiting people. So they started recruiting some Indians also in 1921 as provisionary assistants. Initially alone it was found that the most of the people who entered the bank, they are coming from all sort of academic trainings like say they come from arts, science, commerce, engineering in these days and law and IT in these days. Of course in those days art science comes with the main streams which fed the bank. So they were all new to the banking and it was found that banking is a knowledge and skill intensive profession which also has a huge element of risk checking and whatever you pass a check there is a risk, you give alone there is a risk, you enter into contract with a customer there is a risk which needs to be understood in terms of the elements of that particular business transaction as well as the regulations and rules prevailing at that particular point of time because trust is the major thing which bank has and there can't be any breach in it. So initially it was all in the 19th century and 20th century up to say 1995 or 90s. It was basically on the job then people came raw they were given some tasks, some frontline job in the bank and they learned the job and they also had a peer learning with somebody doing another job and another element which was very much prominent in the bank and still is is the rotation aspect. After 6 months you are the frontline man changes to another role after one year an officer changes to other role. So say the on-the-job training coupled with rotation and as well as periodical checking whether this person will be able to suit our higher responsibilities. So that is how the entire training methodology was. When it came up with structures, the rules regulations and the trend understanding was the bank had it was all codified and moved to manuals, book of instructions and they were all printed and given to branches along with every month some circular instructions the new ones would come and they were the sources of knowledge where people used to learn and people used to get themselves updated. We finally only in 1921 we had some sort of baby steps in institutional training in Mumbai when the Indians recruited in the office's position thereafter in 1954 we find that around 18 clubs they were given institutional training in Calcutta for around 8 to 10 weeks and thereafter we had an explosion of training architecture. We now as of now we have 51 training centres which are residential ones and six colleges which we call Apex training institutes which are basically say making creating more content, training in areas like risk, credit, analytics, IT, rural banking, consumer banking, leadership, HR. So this is the type of training infrastructure we have. In up to 1995-98 it was basically a physical mode of learning. Everything was cyclical style, the notes were created, they were sent, people used to be sent and it was a dominant form. As computers came in, it became a common thing in the branches as well as in the houses and some of the people, CD-ROMs and pen drives, they started taking some space because first time people understood that a solid thing like physical note or a manual could be liquefied into something which is a disseminable at any place, it can be used at any point of time and it gave a sense of freedom and choice to the people who consumed this kind of information resources. So from physical it became digital in around 95 to say even up to 2004-05 it was digital concept. What we found is that people, it was becoming difficult for people also in the bank to depute people to training shoots. We have 4200 capacity for students or the employees every day who could come to the training shoots and have their classes like colleges and we found that there were some sort of problems in getting attendance of the employees in the different shoots and one of the KPAs for people was capacity utilization. Then we understood that the problem was different, the problem was that people are needed at the branches and the workplaces and it's difficult for the operating of a staff or the business people to send them to training shoots. So we found that it has to be more and more digital. In this process what happened is that we started creating digital resources which could through the medium of digital it would be disseminated to people and people would learn at their own pace. So this has become the major sort of model, physical still dominating, digital still equally important and robust but Corona made a change. What happened, what we used to think that let us make it all digital. Corona was the external factor which tested our infrastructure, the training infrastructure we had and during this period we digitized all the information sources we had and we used the methods which are no more prevalent, one of the methods which we are using now, webinars and to tell you the progress which we have made is that during the last three months starting from April we have already done around 3000 webinars on different topics wherein 91,000 employees they have participated. The webinars could be around one hour, one hour and a half or a couple of hours maybe and all the training programs which we had we are there. So this is how we have done and the pool and the posts we have in the system which we have created maybe in the discussion will talk and what is the model of how we are innovating by design that also will talk in the question and answer but it's all designed as to how we innovate and for the last 214 years we have been reinventing ourselves and trying to be relevant to the market and be in the forefront for serving the people of the country as well as wherever the Indian diaspora is. So thank you Anand. Thank you for your comments. So I have a very quick question for you. So State Bank of India and you have many of your employees using edX content for courses for them. One of the things I heard was that as you use edX courses the leadership of the State Bank of India including yourself is setting an example for the employees. Can you describe how you are doing that in the bank? See what we found is that we have three level of learners in the bank. One is the contextual learners who want learning immediately because some problem errors and there's a need to learn. So for them there's a different content and then we have aspirational learners who want to grow in the bank they want to increase the self-esteem by being able to help people and there are the exploratory learners at senior levels. So these exploratory learners they are supposed to bring dynamism and renewal renewed content from around the world in order to save the energy of the bank from reinventing the wheel. So edX is a partner. We understand it as a beneficial mutazine. You are some mutagenic agent because we get to know what the contents are being made and curated by MIT or IMF or many other organizations and these enable, I mean widen the horizon of the top management GMs, the CGMs, the DMDs of my position. We are all supposed to do these courses and bring new insight. So me myself say last year I have done a couple of courses, year before that I have done a couple of courses. This year I have enrolled for say a course on cash flow management because what is helping us is that almost all of us in the bank like from a CHRO position I will get a SIFT as a Chief Business Officer or a Chief Accounts Officer or Chief Risk Officer. So our positions are fungible and it is incumbent for us to know about everything what the bank does. So within the same vertical which I am working it is incumbent upon me and others who are working in the bank to develop knowledge into the area. This is fantastic. So it's amazing how from the CHRO throughout the team you are all leaders taking the courses and setting up a fantastic example for the employees in the bank. Can you share an example of an employee and how it has impacted their career? What are the full motivations you are creating for your employees to take these online courses? Yeah. So the first thing how the courses have helped say let me take an example of E-Tex itself. We had a GM who was best in India but his responsibility was managing the affairs of the foreign branches. So in one of the bigger branches in the Euro area I will not take the name. In the Euro area we had a local say joint CEO and we had Indian people who were working there from the bank on deportation. So there was suddenly an industrialization or say emotionally sued branch where it was found that the way the locally hired person was behaving was not being appreciated by the people here and so it was becoming a great problem. There were pressures for de-hiring him or firing him which would not have sent good signals to the regulator there because it could have snowballed into a different kind of controversy. So our man here he had done a course where unconscious biases was a major theme of the course and he was sent for investigation. When he went there he found out there is a very naturally I mean natural and an accepted way of behaving in that particular cultural context and then he called for a meeting of all of them and a sort of cathartic process followed and the entire issue which could have snowballed into maybe a diplomatic issue and you never know because these are very sensitive issue it was smoothly handled. So I think we have abundant examples like this almost we are in touch with people who do all sort of courses and we get information from them so it helps. That's amazing but that's absolutely amazing and I've also heard that you create push and pull incentives where the pull incentives are that you and you know the push incentives are that people are going to get promotions and you're going to look at the performance in these online courses for their promotions and pull as well these certifications and the senior leadership doing the courses. We have time just a quick question from the audience with all of this content available for free today or content available directly to employees on learning platforms why do you think it's important for human resources departments at the bank to be providing learning as part of development for your organization? I think it's necessary because you have must have and would be kind of available. Now by human nature you know we are entertainment loving or maybe some of the people who are differently designed mentally but they have to work in an organization like the bank or some other organization so you need people who will sort of give a context as to which learning is important for you for growth and survival and which learning is good for your esteem. So the learning and development professionals they help people choose they also help decide as to what kind of courses are good and they are needed for creating pull and push so that people learn the right kind of courses which takes care of the strategic objectives of the organization like a doctor says if a doctor starts learning courses in Pali or Prakrit it's good to learn but the very profession for which the profession is built will not exist so there are a lot of courses there no doubt about that and that is why it is necessary that you have plethora of choices you need some filters to give you the right kind of choices for must learning and then you have should be learning and would be learning so this professionals are needed anyway. So it's very very exciting to see how you are creating these push and pull incentives for your learners I also appreciate that it is very important as you said for companies to be suggesting to their employees what courses they should be taking and I hear you your point that although content is available you know people can go to edX.org directly and learn but they will choose courses that may or may not be aligned with the organization's incentives and corporate structure and so you want to suggest to employees certain courses that will help them in their careers will help the organization and by creating your push and pull incentives promotion incentives and also creating time for employees to learn by setting an example yourself by the leaderships it's absolutely great so you know I'm really delighted by our partnership with the state bank of India you are setting a innovative example for all the corporations and learning organizations in India I hope that they all take example from you and do the same innovation in their organizations and for the listeners thank you all for joining us I would encourage you to go to the business.edx.org slash shrm to learn more go to the virtual booth and enjoy the conference thank you again and thank you a lot thank you for really exciting to be here yeah thank you very much thank you audience