Boosting your business means giving your team the right tools and one essential tool is employee training. Forget old-fashioned methods, we now have something exciting called Learning Experience Platforms (LXPs). They’re not just trendy, they’re a game-changer for learning and growth within your organization.
Why are they so great? LXP solutions allow your people to progress as fast as they can, but with a personalized touch. It’s like having a bespoke learning journey for each employee. Imagine how much better your team will perform when they get exactly what they need when they need it.
And the best thing? Learning Experience Platforms save you time and money. So the big question is: how do you choose the perfect learning platform for business to take it to the next level? Let’s find out together.
What is a Learning Experience Platform?
Let’s start with the basics. You might wonder: What is a Learning Experience Platform? Learning Experience Platforms serve as the central hub for employee training in a business environment. Their primary aim is to offer engaging and personalized learning experiences to employees as they acquire new knowledge and skills. Compared to classic education approaches, LXP prioritizes learner-centered and self-directed learning methods.
Within an LXP solution, each employee receives a customized learning journey based on their unique needs, objectives, learning pace, and previous experiences. This tailored approach ensures that employees receive the most relevant and effective learning content, thereby optimizing their learning outcomes and performance.
One notable finding, according to Statista, is that the motivation of employees to engage in self-directed learning significantly contributes to the successful use of LXP solutions in practice. At Growth Hackers, we worked with a fast-growing technology company and viewed their LXP as a personalized GPS for employee development, helping learners find the most relevant training paths and boosting learning participation.
Additionally, the growth of the global LXP market is closely linked to the ongoing digital transformation framework in education and learning. LXPs play a crucial role in harnessing the potential of digital technologies to enhance learning experiences and drive organizational growth.
3 Key things to consider:
- The learning experience platform (LXP) market is booming and is projected to reach $2,186.4 million within 2 years. This shows just how much learning platforms for business are needed.
- One cool feature of modern LXPs is gamification, which makes training fun and encourages self-directed learning. Did you know that 66% of employees say that game-based learning reduces stress and increases retention? Plus, offering e-learning opportunities can increase retention rates by a whopping 60%.
- LXPs aren’t just about delivering content like traditional Learning Management Systems (LMSs). They put employees in control of their own learning journey. It’s about moving from passive learning to actively shaping your growth.
So how do you make sure you’re choosing the right LXP for your business goals? One smart move is to create your own LXP with the help of a skilled development team.
Effective LXP Platforms for Business | How to Choose the Right One for You?
If you’re considering building your own LXP platforms from scratch, there are some exciting possibilities. With this option, you have the freedom to customize the platform with a range of features, including:
- Personalized learning journeys
- Advanced solution for producing and managing content
- User-generated content (UGC)
- AI and ML-powered options for tailored customer experiences
- Learning Analytics
- Gamification, and much more.
Feeling adventurous? Dive into a real-life case study to see how to build an LXP from scratch and achieve your desired outcomes. But before you get started, it’s important to consider some specific nuances to make the right decision. We’ve got you covered with the key factors to consider.
At Growth Hackers, we helped a healthcare organization move from a rigid, generic learning platform to a fully customized LXP with personalized journeys and learning analytics, increasing learner engagement and delivering far stronger training outcomes.
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How to Choose the Right Learning Experience Platform to Boost Employee Performance | Top 5 Tips
So, really: How can you be sure that the LXP you choose is the right one for your business? Selecting an effective LXP involves considering several key factors that can significantly impact the quality of corporate training. Let’s explore these essential factors that shouldn’t be overlooked.
1. Skills gaps
Find out what skills your team needs help with. Your LXP solution should provide personalized training to fill these gaps and help them progress in their careers. Remember that everyone learns differently and has different career goals. Don’t rush them, but listen to what they want.
2. Essential features
Rather than opting for the longest list of features, prioritize quality over quantity. Each feature of your Learning Experience Platform should serve a specific purpose in achieving your training objectives and business goals as well. Additionally, ensure that the chosen platform is scalable and adaptable to meet the changing needs of the organization. Focus on what truly matters.
3. A budget you’re comfortable spending
We said it because cutting corners on employee training is like ignoring the need to find new leads and make sales. But why? If we’re dealing with challenges during slow sales, why skip employee training? Employees themselves say learning and development (L&D) is one of the top three things that matter at work. Plus, think about this: Most companies invest between $500 and $3,000 per employee in training. That’s something to consider, isn’t it?”
4. Connecting with other systems
The HR technology landscape is getting more complex. While it’s tempting to use as many software solutions as possible, it’s safer to diversify between different vendors. Ensure each vendor offers an open technology ecosystem, allowing integration with other solutions, platforms, and applications. This is crucial because your internal learning strategy will evolve, and your LXP training solution needs to adapt. Choosing Learning Experience Platforms with integration options sets your business up for growth.
5. Vendor relationships and technology adoption
In sales, the golden rule is simple: your money, your decision. But once you pay, your options shrink. So, before signing any contract, consider these 3 key points:
- How does the vendor treat you? Do they listen to your needs and provide thorough answers?
- Do they embrace new technologies and keep up with innovations? Are their team members up to date with the latest trends in LXP solutions?
- What do other customers say about working with them and the quality of their software?
It may seem like a lot, but it’s crucial to know who you’re trusting to build a system that will drive your business forward.
Other things to consider when choosing an LXP for training needs:
- Goal alignment: Ensure that the training provided by the LXP supports your business objectives, like boosting productivity, enhancing customer satisfaction, or increasing revenue.
- Return on investment (ROI): Evaluate the cost of the LXP against the benefits it offers.
- Regulatory compliance: If your business operates in a regulated industry, confirm if the LXP can meet your training and reporting requirements to stay compliant and avoid penalties.
Ready to jump into LXP’s key features to focus on? Let’s do it. At Growth Hackers, we helped a large B2B client avoid a costly platform migration by thoroughly evaluating LXP vendors, ultimately selecting a solution that met compliance requirements and delivered a high training adoption rate.
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6 Key Features an LXP for Business Should Have
When choosing an LXP to improve employee performance, prioritize features that encourage thorough and self-directed learning. Here are the key features to look for.
1. Personalized learning paths
The LXP should provide custom training programs based on each employee’s role, skills, and career goals. This ensures employees receive relevant training tailored to their development needs, ultimately boosting business performance.
2. Learning options and diverse content formats
LXPs should offer a range of options to support flexible and continuous training. Employees should have options for different content formats like videos, webinars, articles, and more. Additionally, they should be able to choose from various learning formats such as microlearning or instructor-led training.
Short, focused digital modules are gaining momentum, reflecting a commitment to ongoing skills development. It’s valuable when employees can create their learning paths, choosing the content and delivery methods that work best for them.
3. Mobile Accessibility
Employees should be able to access the LXP training via their smartphones for on-the-go learning. This flexibility supports continuous learning away from the office, increasing productivity and effectiveness.
4. Feedback and progress tracking
With feedback tools, managers can keep tabs on how employees are doing, spot areas to improve, and provide the right support. This not only promotes continuous learning within the organization but also helps in enhancing overall performance and productivity.
5. Analytics and reporting tools
These tools provide in-depth insights into the effectiveness of learning initiatives. By analyzing data, you can fine-tune learning programs, allocate resources wisely, and ultimately improve business outcomes.
6. Gamification
Gamification features such as badges, points, or leaderboards should be added to learning activities. This turns LXP training into a game, making it more fun and engaging. It also encourages friendly competition among employees, motivating them to actively participate and improve their performance.
It’s Time to Choose the Right Learning Experience Platform for Your Business
Well, now we know what LXP is and why it’s crucial to include it in your corporate learning setup. But choosing the right LXP that boosts employee productivity involves many factors:
- Your budget
- Business goals
- Desired platform features
- Scalability and integration options, and more.
The ball’s in your court. If you’re looking to empower your team and drive business growth, it’s time to embrace an effective LXP.
GrowthHackers offers data-driven growth hacking services helping businesses from all over the world grow. There is no fluff with Growth Hackers. We help entrepreneurs and business owners use the right learning experience platform, increase their productivity, generate qualified leads, optimize their conversion rate, gather and analyze data analytics, acquire and retain users and increase sales.
We go further than brand awareness and exposure. We make sure that the strategies we implement move the needle so your business grow, strive and succeed. If you too want your business to reach new heights, contact GrowthHackers today so we can discuss about your brand and create a custom growth plan for you. You’re just one click away to skyrocket your business.
