Cornerstone OnDemand Introduces Talent Management 2.0 with New Social Networking Platform
Cornerstone Connect™ provides global enterprises and SMBs with on-demand workplace collaboration tools including communities, user profiles, blogs, wikis and more
Santa Monica, Calif., October 14, 2008 – Taking into account the numerous ways employees interact, learn and work in a modern, highly networked environment, Cornerstone OnDemand Inc. is adding a new enterprise social networking platform to its on-demand, integrated talent management suite of software and services. Cornerstone Connect will help organizations of all sizes bridge the gap between learning and performance with tools for boosting collaboration and communication for both employees and external audiences, such as partners and customers. The platform, which will be available next month, features a range of Web 2.0 tools – including communities of practice, blogs, wikis, user profiles, rating/sharing content, knowledge management (including alumni), podcasts, RSS feeds and more.
The company will unveil Cornerstone Connect at this week’s 11th Annual HR Technology Conference & Exposition, October 15-17 at Chicago’s McCormick Place (Booth No. 321).
New workforce challenges are requiring businesses to reevaluate the way they go about fostering high-performance cultures, retaining top performers and developing leadership pipelines. In addition to globalization, the economy is slowing, and business conditions are changing. Baby Boomers, which make up nearly 40 percent of the U.S. workforce today, are retiring, while more multitasking, tech-savvy Millennials are ushered in. People are increasingly mobile and geographically dispersed, and they are operating within flatter organization models. Companies also have to keep up with shorter information cycles.
“Today’s human capital management needs demand a new approach to traditional HR systems,” said Josh Bersin, Principal Analyst for Bersin & Associates. “While conventional tools for learning, performance, onboarding and succession planning aren’t going away, corporate social networks are the ‘next frontier’ in talent management software. By integrating collaboration tools with their core talent suites, organizations will be able to transform and dramatically improve their strategies for creating a high-performing, engaged and productive workforce.”
Incorporating social networking and collaboration tools into their existing networks can help companies improve employee performance, foster connections with both internal and external audiences, and cultivate informal learning. Industry research shows that while 80 percent of training dollars are spent on formal learning programs, equally 80 percent of what people actually learn and retain in a job is based on informal and collaborative experiences. Beyond employees, these tools also can help organizations engage customers and partners to drive innovation and lower support costs.
“With Cornerstone Connect, we want to change the way organizations think about talent management,” said Adam Miller, President and CEO of Cornerstone OnDemand. “There’s been a lot of excitement surrounding social networking and Web 2.0 features, but companies are unsure of how to employ these new technologies in ways that are culturally relevant to their business and impact the bottom line. We’re moving past the hype with unique collaboration tools that will help organizations drive efficiencies and allow them to engage and interact with their most important assets, including employees, partners and customers.”
Addressing Real-World Talent Issues
Built from the ground up by Cornerstone’s product development team with valuable input from customers, Cornerstone Connect seamlessly integrates with its other Software-as-a-Service (SaaS) based talent management solutions, including learning, compliance, performance, compensation, succession planning and extended enterprise. By taking a practical approach to Talent Management 2.0, Cornerstone is bringing human capital management to the next level and providing organizations of all sizes, and in all industries, with a comprehensive, easy-to-use suite of software and services that successfully address real-world talent issues.
Used separately or as part of an integrated talent management suite, examples of how Cornerstone Connect delivers discernible value to global enterprises and SMBs include:
• Employee Onboarding – About 68 percent of organizations feel they don’t have an adequate onboarding approach for workers under the age of 25.1 Offering interactive workplace communities and rich user profiles make it easier for new hires to network with the people they need to know to succeed within an organization.
• Internal Recruiting – Leveraging communities and user profiles can help managers to not only retain high performers but also recruit from their own talent pool.
• Training / Informal Learning – Collaborative tools such as discussion boards, blogs, podcasts and wikis allow organizations to enhance their existing e-learning and learning management systems (LMS) and provide a richer, more meaningful development experience for employees.
• Alumni Engagement Networks – Active communities of practice and wikis make it easier for businesses to continue relationships with alumni and retirees and retain valuable “corporate memory.”
• Partner/Channel Training – Providing ongoing access to the latest information on products, services and programs via blogs, podcasts and discussion boards helps businesses maximize the value of their partner and channel relationships.
• User Innovation – Through communities and discussion boards, businesses can capture unique, innovative ideas directly from their most vocal champions – partners and customers.
About Cornerstone OnDemand
Cornerstone OnDemand (www.cornerstoneondemand.com) empowers people around the world with on-demand, integrated talent management software and services for connecting, developing and performing in the workplace. Organizations of all sizes and industries employ Cornerstone’s easy-to-use, comprehensive solutions to grow and develop a high-performance culture, align talent management strategies to specific business goals, gain insight into their workforce and create organizational efficiencies. The company’s platforms include learning, social networking, compliance, performance, compensation and succession planning. Cornerstone also provides extended enterprise solutions to help companies collaborate with and train customers, vendors and other partners. And, Cornerstone’s extensive, real-time reports help organizations assess the effectiveness and ROI of their talent management technology investment. A pure, 100 percent Software-as-a-Service (SaaS) offering, Cornerstone provides a faster, more flexible and more cost-effective way for companies to configure, deploy and maintain their talent management solution without the hassles of version upgrades and hardware and IT costs. Available in 13 languages and supported by global, 24x7 customer care, Cornerstone is used by more than 1.5 million active subscribers in more than 141 countries around the world. The company is headquartered in Santa Monica, California and has international offices in London, Paris, Munich, Tel Aviv and Mumbai.
For more information, visit www.cornerstoneondemand.com
Cornerstone® and Cornerstone OnDemand® are registered trademarks of Cornerstone OnDemand Inc.
1 Bersin & Associates, “The High-Impact Learning Organization,” May 2008
Cornerstone OnDemand, Inc.