A look at the significant role that Learning Experience Platforms (LXPs) play in skilling and upskilling in organisations.
Skills and competencies form a quintessential part of today’s modern, digitally transformed workplaces. With evolving industry needs, technological shifts and rapidly growing competition, it is imperative that employee skills are updated. Needless to say, a skilled and competent workforce can go a long way towards delivering better value and profit, which can thereby contribute to the organisation’s success in a big way.
As revealed by a McKinsey survey, 87% of executives are currently experiencing a skill gap or are likely to develop one in the near future. Also, as per PwC, 77% of employees are willing to learn and acquire new skills. Cognisant of these facts, organisations across the globe have been actively looking for advanced training modules to build and strengthen their workforce skills, especially in remote and hybrid work environments. This drives employees towards focusing on training with a view to becoming future-ready.
An LXP is a next-gen online collaborative learning platform that leverages the potential of new-age, digital technologies to impart superior custom learning experiences to employees
An advanced training platform which promotes enhanced, robust, and innovative employee learning, in sync with organisational business goals, offering embedded organic content is an LXP (Learning Experience Platform). Clearly, an LXP is a next-gen online collaborative learning platform that leverages the potential of new-age, digital technologies to impart superior custom learning experiences to employees. By opening up the workforce to a pool of learning opportunities, it enables organisations to build and enhance employee skills continuously.
What Does an LXP Do?
The platform intelligently identifies the existing gaps in the skills inventory and then evaluates the learning requirements of each employee. Based on this, it then builds a competency matrix which is seamlessly aligned with the broader objectives of the organisation.
It also evaluates the current competency level of the organisation and suggests the desired level to be achieved on the competency framework in sync with organisational business goals. It then comes up with tailormade learning strategies, wherein content is curated and aggregated individually for each skill set and specific level of the learner. This eventually aids in bridging the existing skill gaps and upskilling the workforce to be future ready.
Focus on Personalised Training
The AI recommendations in an LXP ensure the highest level of personalisation, as it is programmed to generate customised training modules for each employee. The employees do not need to spend time browsing through the entire training content. Instead, they can now receive only the filtered, relevant learning material, which is based on their own interests, job role, and existing training needs. This enables people to quickly upskill and become continuous learners throughout their work journey.
AI and scenario based video training bring in immense value in times of remote working, as work forces can actually practice what they used to do in classrooms
Promoting Collaborative Learning & Peer Engagement
An LXP allows employees to easily upload and share content with their colleagues and peers. It also enables them to share their learning experiences and common topics of interest. As employees are able to learn from one another, it enhances their knowledge and skills in a distinct, collective way. These social interactions and learnings have a long-lasting impact on employee morale, and also makes learning an exciting experience.
A Smart Strategic Tool
An LXP, therefore, can be regarded as a smart, strategic tool that forward-looking organisations can use to plan and deploy the right training path for their employees. Taking a sneak peek into the future, it is evident that those organisations which successfully promote a culture of continuous learning and upskilling, are likely to stay ahead of the curve and competition.
Those companies without a skill-ready workforce might run the risk of staying behind. Ultimately, it is the people that define success for any organisation. Organisations that have developed the ability to continuously train and upskill their own workforce will have a far stronger, sustainable advantage over their competitors.
Guest contributor Sameer Nigam is the CEO of Stratbeans, a company that drives digital transformation through AI-based online learning. Any opinions expressed in this article are strictly that of the author.