If you look at the evolution of the corporate sector over the past decade, you will notice that the adoption of business platforms has increased considerably. At present, while most companies use business software to streamline their core processes across different departments, learning experience platforms have also become quite popular.
Learning experience platforms are tipped to disrupt corporate learning in the upcoming years, and for a good reason. Conventional learning management systems (LMS) are gradually being replaced by new-age learning platforms due to a range of factors such as flexibility, personalization, and more.
Besides, the advent of the COVID-19 pandemic in 2020 is another reason why large enterprises in particular are increasingly interested in learning experience platforms to train their employees. But why is learning experience becoming such a hot topic within the corporate world?
Before we find the answers, let’s understand what a learning experience platform is.
Learning experience platform: Definition
A learning experience platform can be defined as an easy-to-use online platform that enables companies to offer on-the-job training with ease.
Although most businesses relied on traditional learning management systems to facilitate corporate learning, that trend is changing. Learning experience platforms provide a robust framework for the management of learning programs from the business perspective. Apart from that, these platforms also improve the overall learner experience, which is why the demand has soared in recent years.
Learning experience platforms can be segmented into three categories:
- Platforms that leverage the benefits of artificial intelligence (AI) to offer personalized content delivery
- Solutions that primarily focus on improving and streamlining social learning and collaboration
- Hybrid platforms that combine social learning with personalized content delivery
Since the demand for personalized content is at an all-time high, a majority of the learning experience solutions belong to the first category. Besides, these platforms are also referred to as the “Netflix for learning” since they provide personalized material recommendations based on a user’s interests, past behavior, and other parameters.
Will Learning Experience Platforms Replace Learning Management Systems?
Looking at the way things are moving forward, it is safe to say that learning management systems are losing their appeal. There are strong reasons why we think learning experience platforms could replace LMS in the future.
1. More learning opportunities
A learning management system is primarily a closed system that provides very little room to define a user’s learning pathway.
That is not the case when it comes to learning experience platforms that provide great flexibility. Users have the freedom to choose the course of their choice, watch and learn at their own pace, and also complete certifications.
2. Digital appeal
In the current scenario, employees across the world are seeking new ways to sharpen and expand their skill set by enrolling in online courses or assimilating information from a range of online publications.
A learning experience platform has the ability to track all these activities and provide a clear picture of your employee’s true potential and preferences.
3. Empowers employees
Contrary to a learning management system, a learning experience platform is more employee-centric and flexible. In addition, due to the spotless social integrations, employees can also share their learning experiences and content discoveries with their peers.
4. Learner generated content (LGC)
Learner-generated content is one of the most novel and effective ways in which employees can share their learning, skills, and knowledge. This encourages more employees to participate and enables managers to identify bottlenecks or notice exceptional performance incidences.
Why Should You Choose a Learning Experience Platform?
We are well and truly living in the digital age. Today, digital transformation continues to transform an array of industrial sectors such as finance, healthcare, logistics, and more.
Despite its benefits, digital transformation has opened up the digital skills gap which puts forward a fair share of hurdles for corporations around the world. As a result, companies are seeking different ways to bridge this gap to stay competitive.
Learning experience platforms have emerged as one of the most effective solutions that provide the right tools to improve an employee’s skills and knowledge. Having said that, e-learning solutions are also evolving at a rapid pace and the way corporate training is delivered today is noticeably very different from the traditional training solutions.
Today, personalization, flexibility, learner experience, and scalability are some of the key factors that vendors need to consider while rolling out their learning experience solutions.
The arrival of the internet coupled with the innovative offers by learning management service providers has created a digital ecosystem in which learners are connected across the world.
Learning experience platforms raise the bar and offer ideal solutions for learners so that they can learn new skills and expertise effortlessly.
How are Learning Experience Platforms Helping Businesses?
One of the main reasons why companies are turning to learning experience platforms to provide corporate training is that it makes your workforce more competitive.
Learning experience can be used to motivate employees into opting for training they are interested in. This allows you to pinpoint the knowledge gaps and create skill development programs accordingly.
Another advantage of this cutting-edge software is that it helps you cut down your employee turnover by a significant amount. Since employees have the freedom to train on topics of their choice and at their pace, learning experience also provides a seamless employee experience.
Without flawless team collaboration and communication, no amount of training will help. Talking about the collaboration, we have reached our final point. Learning experience software improves collaboration between colleagues, which in turn boosts engagement and overall performance.
Looking at the current trends, learning experience platforms are staring at a bright future.
The global learning experience platform is projected to grow at a CAGR of around 25% between 2020 and 2026 .
The increasing demand for personalized solutions will shape how training and onboarding programs will be conducted in the future. Digital transformation technologies such as artificial intelligence, AR/VR, and other cognitive technologies will have a strong impact on learning experiences in the forthcoming years.
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 (2021) “Global Learning Experience Platform (LXP) Market Projected to Expand USD 2186.4 Million by 2026: Facts & Factors” Intrado GlobeNewswire [online] Available from: https://www.globenewswire.com/en/news-release/2021/05/05/2223330/0/en/Global-Learning-Experience-Platform-LXP-Market-Projected-to-Expand-USD-2186-4-Million-by-2026-Facts-Factors.html [accessed July 2021]