When it comes to developing future leaders, Financial Services firms are often under pressure to deliver top-quality experiences for their new starters. With high expectations, graduates are seeking impactful learning which will fast-track their careers. The most successful programmes not only deliverhigh-impact results but foster cultural alignment and a sense of purpose, enabling young talent to envision their role within the firm’s future. To help meet this ideal, Alchemist partnered with a leading UK Insurance Company to design and deliver ‘Dream Animations.’
As the culminating event of the Firm’s two-year graduate programme, this engaging immersive simulation would provide a unique opportunity for graduates to unlock their true potential as future leaders of the Firm. It would offer a challenging but safe ‘container’ to navigate realistic business scenarios and hone their stakeholder management skills, all within an engaging narrative framework.
Practising Stakeholder Management Skills in a Realistic, Immersive Environment
Gathered at the towering heights of 22 Bishopsgate, twelve graduates entered the fictional world of Dream Animations, a global entertainment company. Playing the role of business leaders, they would tackle real-world challenges across three critical economic stages: financial boom, financial bust, and future digitisation.
Teams would need to demonstrate their initiative and think on their feet; testing critical decision-making capabilities, effective delegation, and their ability to strategise. Adding to the adrenaline, mobile phones would ring inside rooms without warning and stakeholders (played by Alchemist Actors) would appear for impromptu meetings throughout the day. Courage would be needed to manage strategic relationships and handle challenging conversations. Alchemist’s Facilitators would observe each interaction, assessing how graduates are demonstrating specific emotional intelligence behaviours (EQ-I 2.0) in alignment with the Firm’s core values.
Phase One: Building A Strategy and Effective Delegation
Addressing an enthusiastic room of graduates, Alchemist’s Lead Facilitator began by planting the seeds of the Dream Animations story. With mystery in the air, curiosity piqued, and permission to throw themselves in, Phase One got under way. A CEO podcast outlined ambitious plans for business growth and budget allocation before teams of four split off into separate rooms, accompanied by an Alchemist Facilitator. Each team was assigned a business division of Dream Animations which they would lead for the duration of the simulation.
In their rooms, participants were handed iPads, preloaded with essential information about the fictional company. With limited guidance teams tentatively found their feet, combing through company information documents such as P&L statements, press releases, letters and other key information. Facilitators observed as they began developing their strategy. Initial reactions were mixed and many displayed uncertainty as they adjusted to the fast-paced demands of the simulation.
Early observations revealed the importance of self-leadership and effective delegation. Where one team felt scattered, others quickly established a system – pairing up to tackle different aspects and collaboratively recording critical data. As the simulation paused for feedback, Alchemist Facilitators guided participants through their reflections, helping them identify strengths and areas for improvement. This feedback fostered self-awareness and highlighted the importance of strategic planning and clear communication in shifting the dynamic of future interactions.
Phase Two: Intensifying Challenges and Handling Difficult Conversations
As the simulation progressed, participants faced a more complex challenge of streamlining costs under the economic pressures of a global pandemic. By now, they were starting to demonstrate a more mature and structured approach, attentively applying feedback to better prepare for high-stakes conversations. Notably, one team exhibited clearer focus and strategic insight during a crucial meeting with the CFO, impressing Facilitators with their increasing ability to communicate under pressure.
Further tests came in the form of handling delicate conversations – including managing growing investor concerns, and complaints from a women’s rights advocacy group. Graduates reported growing confidence as they learnt the nuances of handling these difficult conversations. In one emotionally charged meeting, while initially flustered, participants acknowledged their ability to regain composure and build trust with their external stakeholder. Their Facilitator noted how they were learning to adjust their tone and approach to influence the outcome, becoming more adept at positively influencing the emotions and dynamics of their interactions.
The Plenary Session: Negotiation and Conflict Resolution
The day reached its first crescendo peak as teams gathered for heated negotiations around budget allocations across functions. Initially, the air was tense as graduates vied to back up their proposals, defending their choices and adapting to pushbacks from their peers. However, they rose to the challenge, showing increased flexibility and adeptness in handling diverse viewpoints. Facilitators noted how participants articulated their strategic rationale, adjusting to real-time feedback, and displaying resilience in defending their values under pressure.
Final Pitches and Reflections: An Experience Which Transforms
The simulation concluded with each team delivering a pitch to the CFO detailing their financial growth strategy. These final presentations tested the skills developed throughout the day, from data-driven decision-making, to clear, impactful communication. After Facilitators shared their closing feedback with teams, the day culminated in a final group feedback session. Actors stepped out of character to provide a holistic view of graduates’ performance, highlighting both strengths and improvement areas – from managing hierarchical pressures to maintaining composure.
Elevated Stakeholder Management Skills
With engagement scores at 100%, graduates left the event buzzing with energy. One commented, “I liked [that] we were able to collaborate together and that we were really pushed out of our comfort zone.” Achieving a 94% overall positivity score, many praised the challenging, immersive nature – one noting, “the sessions were very immersive, and acting was great from the team.” They reported feeling more confident in handling real-world challenges, with actionable insights to help embed change. Graduates also expressed appreciation for the progressive feedback format, with one stating, “it was good to have feedback at every step of the way to help us consolidate our behaviour and adjust for the next session.”
Preparing Future Leaders through Innovation and Empathy
Alchemist’s Facilitators and Actors witnessed huge changes in the graduates as they journeyed through the simulation. They went from hesitant, overwhelmed, underconfident and flustered, to proactively taking charge and embodying the skills and qualities of self-assured leaders. Involvement from the Actors had encouraged them to adapt and change in the moment – reflecting their unconscious behaviours back to them and expertly responding in a way which created a mirror for self-reflection. Coupled with personalised feedback from facilitators, graduates were able to get a clear picture of exactly where they needed to improve. This real-time information allowed them to adjust and adapt their behaviours to see direct results as they progressed through the day’s challenges.
The immersive environment enabled graduates to practise being future leaders and reflect on their personal areas for growth. A graduate approached one of Alchemist’s Actors at the end of the day, full of gratitude for the progress he had made. He shared how the Actor had helped him to reflect on his behaviour, and more self-awareness had emerged as a result. In another special case, a non-native speaker showed a remarkable change in her ability to step up to her strengths and face her fears. With gentle guidance from her Facilitator, after struggling initially, she was able to take courage in her leadership qualities and was confidently leading the group by the end of the day.
For our client, the return on investment from this immersive simulation has been significant. Graduates have left this impactful learning experience feeling more prepared for the demands of future leadership – equipped with strategies for effective communication, self-awareness, and decision-making under pressure. The Firm’s investment in their future leaders has given them the skills to navigate complex, high-pressure situations in their careers, paving the way for a new generation of resilient, adaptable professionals.
Immersive Learning Experiences Which Help Retain Young Talent
Attracting and retaining young talent is crucial for the success of any business. Get in touch to see how we can create memorable and impactful learning experiences for your graduate programmes