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October 14, 2016

Lloyds Bank to use VR technology for graduate intake

The bank will use virtual reality to test applicants in situations that would otherwise be impossible in normal interview.

By CBR Staff Writer

Graduates seeking to find a place on Lloyds Banking Group’s leadership programmes for 2017 will be tested using virtual reality (VR) technology.

The bank, which receives more than 20,000 applications per year for 14 graduate leadership programmes, will use the technology on those who apply for the digital and IT schemes.

The bank said the move will allow it to test applicants in situations that would otherwise be impossible in normal interview. It expects that this will help it identify individuals with the right digital minds.

The candidate will have complete freedom of movement within a 360 degree virtual world and use tracked motion controls to move virtual objects.

LloydsWhile not disclosing the nature of the tasks, Lloyds said the candidates will be asked to solve a series of puzzles designed to show their strengths and capabilities required of its future leaders.

Lloyds Banking Group (LBG) interim performance, talent and development director Chris Jackson said: “Adopting Virtual Reality into the assessment process demonstrates the Group’s commitment to digital transformation as part of the Helping Britain Prosper Plan.

“We are the first organisation to use this pioneering technology to assess the strengths of potential future leaders of our organisation.”

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The bank has recently unveiled plans to cut 1,340 jobs as part of its restructuring plan.

Lloyds has been working to decrease costs and improve shareholders returns. The cuts are part of the 9,000 job losses the bank first unveiled two years ago.

unitewaleseng11-6419UK’s biggest trade union, Unite, has expressed disappointment over job cuts.

Unite national officer Rob MacGregor said: “The constant flow of job cuts across LBG must now be halted and staff be allowed to get on with delivering the high quality and impressive service they are so good at providing.

“The Lloyds management pursuit of this cuts’ agenda is counter-productive in their aim of a successful business.

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