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 –