Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of June 30, 2018, the Company had total assets of approximately $5.7 billion and its Wealth Management Group had assets under administration of approximately $3.2 billion. Midland provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiary.
At Midland States Bank, we strive to give our high-potential employees the tools they need to tackle various challenges they might face as they advance their career at a growing company. As part of our high potential one-year program, we chose business simulations to augment our project management and general business acumen curriculum.
The role of Cesim Project and Cesim Bank
Cesim was selected to deliver two business simulations which would bridge the gap between our classroom-based training programs and the real world.
After a project management seminar, participants are placed on teams as project managers to complete a virtual program. Each team seeks to complete an identical project utilizing less budget, less time, and with a higher level of quality than the competition. At the completion of the simulations, teams present their takeaways from the simulation and discuss applying the learning to their current and future roles.
For the business acumen portion of the program, participants run simulated banks over several virtual years. Each team competes for the same financial metrics as real businesses. This exercise takes lots of participants out of their comfort zones. The program stretches their creativity and critical thinking skills to manage products, make decisions about the direction of their virtual banking entities and analyze environmental contexts to ensure long term success.
About the experience
"We are in the second year incorporating the simulations in our high potentials program. We use both the project management and the banking virtual sims. Our groups enjoy the hands-on, non-threatening yet challenging learning experience. Each year we enhance the program based on participants’ feedback; Cesim modified the sim and incorporated Midland States Bank’s project management templates and other real-world tools to increase the relevancy and give our participants real experience with our processes. Jason guides the participants with the right amount of instruction through regular meetings and market reports. The participants learn for themselves and have support if they go off track. We appreciate Cesim as a partner to develop the bench strength of our company through virtual, thought provoking and applicable activities that they can support. We look forward to continuing to increase the abilities of our learners with Cesim as our partner."
Learning and Development Director
The Outcome of the Training
Participant feedback for this program is very positive. The consensus is that the project management simulation approach reinforces the learning of the accompanying seminar. In addition, participants are much more comfortable with their understanding of bank operations and the way decisions are made in the banking industry.
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