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HomeE-LearningHow IIFL Remodeled Worker Expertise

How IIFL Remodeled Worker Expertise


A Fashionable Studying Expertise

IIFL Finance is likely one of the largest monetary companies companies in India. It supplies a various vary of loans and mortgages via its subsidiaries—IIFL Residence Finance Restricted and Samasta Microfinance Restricted. They provide house, gold, and enterprise loans, together with loans towards property, medium and small enterprise financing, microfinance, developer and building finance, and capital market finance—catering to retail and company shoppers. The corporate has a nationwide presence with a thriving community of 3000+ branches in over 500 cities. IIFL strongly believes within the energy of individuals to be their energy, assist, and spine of the enterprise.

Key Folks Improvement Challenges

Worker Studying and Improvement was at all times a precedence for IIFL, however their conventional studying system was not serving to them create an employee-centric studying tradition. IIFL workers had restricted entry to studying alternatives within the group for the next causes:

  1. Staff have been depending on their conventional Studying Administration System (LMS) for all of their studying wants
  2. Assignments have been the one attainable mode of distributing studying content material within the group, leading to a top-down studying tradition
  3. SCORM was the one reference mannequin for content material sort
  4. LMS entry was out there to the workers solely via desktop, not able to delivering anytime, wherever studying
  5. Lack of a social and collaborative studying expertise

The Want For An LXP

IIFL wanted a new-age studying system that would present workers with a customized studying expertise and ship studying content material anytime, wherever. IIFL needed an LXP that would assist collaboration and sharing of tacit information by inner Topic Matter Consultants. IIFL’s objective was to offer their workers with a strong studying answer that will:

  • Act as a single answer for all studying wants
  • Provide a extra prescriptive and personalised studying method utilizing a pool of inner and exterior curated content material libraries
  • Act as a single collaborative platform for SMEs to create contextual content material and upskill workers in a customized and safe setting
  • Seamlessly combine with their current studying platforms

EdCast By Cornerstone Offers A Fashionable Studying Expertise For Staff

EdCast by Cornerstone LXP met many of the necessities of IIFL that would assist remove limitations of their conventional studying platform, like restricted content material sort, poor adoption fee, and many others. EdCast by Cornerstone LXP was deployed at IIFL with the essential goal to remodel worker expertise with a learner-centric method. A few of the key options of the LXP deployment at IIFL embrace:

  • Unified expertise throughout the platform for workers
  • Availability of a number of content material sorts on the platform (audio, video, PPT information, SCORM, PDFs, streaming, user-sourced internet content material, and many others.)
  • Single window for entry to content material from a number of inner and exterior sources
  • Cellular app deployment, enabling anytime, wherever studying
  • Grouping of customers based mostly on operate and job roles for seamless availability of studying content material with AI-powered content material suggestions to drive personalised studying

The Influence

The training expertise at IIFL creates a extra interactive journey for all workers and exterior shoppers. Digital ILTs and SCORM programs have been introduced into the LXP, as have been polls and quizzes to interact workers. Now, sturdy pathway-based studying journeys align with particular person growth wants. Different advantages derived from EdCast by Cornerstone’s LXP embrace:

  • The curation crew at IIFL received entry to seamless content material authoring instruments inside LXP, which improved the general content material curation expertise
  • Important enchancment in social collaboration on the platform with 3.6 expressions per person towards a world benchmark of 0.90
  • The L&D crew at IIFL used new-age engagement instruments, together with WhatsApp, Office by Fb, and many others., to drive learner engagement and adoption of the newly deployed platform

This program creates an setting that allows and promotes steady alternatives for shoppers. Via the LXP, IIFL shoppers had entry to trade certifications and content material supporting monetary literacy throughout capital markets and different funding domains.

Measurable Outcomes

The analytics engine of EdCast by Cornerstone LXP helped the L&D crew entry wealthy information and insights in order that they’ll keep centered on creating applications and making selections that may assist construct an employee-centric studying tradition throughout the group. A few of the essential KPIs defining the success of the LXP deployment at IIFL embrace:

  • 30K registered customers
  • 64% common month-to-month lively customers
  • 89% common repeat month-to-month lively customers
  • 75% LXP adoption

eBook Release: Cornerstone Learning

Cornerstone Studying

All-in-one system of studying that brings collectively studying, development, expertise, and capabilities into a customized, curated expertise.

Initially revealed at www.cornerstoneondemand.com.

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