Gamification has become a popular strategy for driving engagement in adult learning and corporate training, using game-design elements like points, badges, rewards and competitions, to boost motivation in non-game contexts. Companies like Duolingo have set the standard, turning learning a foreign language into a daily habit. While this approach is fun and effective in the short term, its long-term impact often diminishes over time. For industries like financial services, where success is measured in real, lasting behavior change, relying on gamification alone isn’t enough. By prioritizing tools that demonstrate personal impact, organizations can achieve more effective and lasting results in financial education.

The Double Edge Sword of Gamification

Gamification isn’t without its positive attributes – it’s easy to see why organizations are drawn to its immediate engagement spike by captivating learners with badges and leaderboards. However, these extrinsic motivators often fail to sustain long-term interest. Research shows that the novelty of gamification wears off quickly, leading to a significant drop in engagement. For example, one study found that gamification’s positive effects on knowledge retention faded after just two weeks. Extrinsic rewards can undermine intrinsic motivation, which is more sustainable. According to Deci and Ryan’s self-determination theory, intrinsic motivation driven by autonomy, competence, and relatedness is crucial for long-term engagement.

From Games to Gains: Demonstrating Personal Impact

Several case studies support the effectiveness of personal relevance over gamification in maintaining long-term engagement. When you shift from gamification to tools that emphasize personal impact, you align learning with what matters most to the individual. When learners see how their efforts directly impact their lives, they’re more likely to stick with the program. This approach fosters sustained engagement by making learning meaningful.

Developing Engaging Tools

To be effective, digital learning tools should include these key features:

• Customization: Tailor learning experiences to individual goals.
• Relevance: Connect content to real-world challenges that affect learners’ lives.
• Feedback: Provide specific, actionable feedback that guides learners towards meaningful progress.

EVERFI’s approach to adult financial education is built on these principles, putting personal impact at the forefront. Unlike others who rely heavily on gamification, we understand that true success isn’t about the number of badges earned, but about lasting financial confidence. Gamification is a great starting point to turn daily learning into habit. Ready to move beyond badges and develop effective tools that emphasize personal impact? Download our white paper, “Rethinking Gamification: How Demonstrating Personal Impact Can Enhance Adult Learning and Training Outcomes,” to learn how to engage your customers in their financial journeys, as well as best practices and strategies for implementation.