Today on the Thrive blog, we delve into a subject very close to our hearts: the wild world of learning platforms. We will attempt to unravel the mysterious acronym madness surrounding LMSs and LXPs, while also answering one of the most asked questions known to humankind: Do you need an LMS or an LXP?

So, grab a cup of coffee and prepare to be both entertained and informed as we embark on this epic journey of discovery.

Current economic climate

Rumour has it that legendary baseball player turned senator Jim Bunning once famously said, "Difficult times require difficult decisions, but getting your company a new learning platform shouldn't be a difficult decision." Or at least, it was something to that extent...

As far as difficult times come, this period of high inflation has led to some of the toughest challenges of this century. Whilst the OECD has forecasted a global recovery by the end of 2023 it is projected to be a weak one. The United States is expected to experience a real-term GDP growth of just 1.9%, while the Eurozone and the UK are projected to grow by 0.9% and 0.3%, respectively.

This lack of economic growth has had a trickle-down effect on companies, with businesses purchasing less software and experiencing longer decision cycles across nearly all B2B industries.

However, the potential positive impact of acquiring the perfect learning platform for your company can be significant. Whether you are looking to drastically increase learning engagement, connect remote workers or just transform your enterprise learning culture, the right tool can have a massive impact on performance.

So to revisit Mr. Bunning's statement, deciding to get a new learning platform isn’t a difficult decision - but which type of platform do you need?

LMS vs LXP: what's the difference?

Before we delve into the best fit for your specific business case, let's explore the acronyms that dominate the corporate learning world.

An LMS, or Learning Management System, is a platform designed to facilitate online learning and training programs. It serves as a digital hub that brings together educational materials, course content, and employee interactions in one place.

With an LMS, instructors can create and manage courses, track learning progress, and administer assessments. Employees can access learning materials, submit assignments, and engage in discussions. It functions as a virtual classroom that offers convenience and flexibility for both educators and learners.

On the other hand, an LXP, or Learning Experience Platform, adopts a more learner-centric approach, with a focus on UX, creating engaging learning experiences that foster collaboration and knowledge sharing.

An LXP often provides a variety of content formats, such as videos, articles, and interactive modules, to cater to different learning preferences. It places emphasis on self-directed learning, allowing learners to explore topics of interest, set goals, and track their own progress.

Moreover, an LXP frequently incorporates social learning elements, enabling learners to connect and collaborate with their peers, share knowledge, and provide feedback. It resembles a dynamic learning playground that encourages curiosity and active participation.
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Which learning system do you need?

Now that we all know what the L stands for in both LMS and LXP let's move on to the burning question on everyone's minds: “Do I need an LMS (Learning Management System) or an LXP (Learning Experience Platform)?”

When deciding between implementing an LMS (Learning Management System) or an LXP (Learning Experience Platform), it's important for you to consider its specific needs and goals.

An LMS is ideal for organisations that prioritise structured and standardised training programs. It provides a centralised platform for managing and delivering content, tracking progress, and ensuring compliance. If your company requires extensive tracking, deals with strict compliance regulations, requires reporting, and certification capabilities, an LMS would be your trusted companion. It'll keep things organised, help you track progress, and ensure everyone's on the right learning path.

On the other hand, if your company values learner engagement, peer-to-peer interactions, and creating a vibrant learning community, an LXP may be the better fit. It will enable you to  foster a culture of learning, innovation, and knowledge sharing. It can also provide employees with the flexibility and autonomy to explore and discover learning content that aligns with their interests and professional goals.

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