The real deal: Shedding light on what the Opportunity Marketplace isn't

Your people want to grow with you rather than without you.

But without providing them with internal opportunities for development, they’ll have no choice but to look for a place where the glass doesn’t feel half empty. That’s why stepping up and offering a development resource that points out clear paths forward and fosters a culture of growth and advancement from within is essential.

And it’s why we’re so proud of the Opportunity Marketplace. This innovative platform can help your organisation bridge the gap between employee aspirations and organisational growth, providing a comprehensive resource to aid your team members toward personal and professional advancement.

But look, we know there are a lot of products to sift through to optimise your workplace, so you probably want to know just what makes the Opportunity Marketplace stand apart from other talent marketplaces and resources.

So let’s talk about what this game-changing tool isn’t.

An ATS (or Applicant Tracking System) streamlines the hiring process by managing job postings, collecting applications and tracking candidate information.

Its primary function is to facilitate the search for external candidates to fill vacant positions within an organisation. It serves as a tool for recruiters and talent professionals to identify and source external candidates for open positions within a company.

By contrast, the Opportunity Marketplace offers a unique and transformative approach to recruitment by focusing on internal hiring and recruitment. In other words, it’s not a replacement for an ATS but a much-needed supplement. By breaking away from the traditional external focus, it allows you to find talent from within your ranks.

Here are just a few of the other major differences between an ATS and the Opportunity Marketplace:

In essence, the Opportunity Marketplace connects to and enhances your ATS, rather than replaces it. It empowers employees to see a clear path forward within their organisation, and it allows you to source the best possible talent from inside and outside your organisation.

The 9-box grid is a visual representation that ranks employees' performance and potential using a low, medium and high scale. It aids in succession planning and talent development by identifying individuals with the potential for future growth within an organisation.

Cornerstone’s Opportunity Marketplace goes far beyond the confines of this grid, offering a much more sophisticated approach to identifying high-performing, high-potential candidates.

As such, it can also be used as a supplemental resource to build on the 9-box’s strengths. It aims to provide a broader perspective on career opportunities and aspirations, going beyond the singular focus on employee potential.

Here's what sets the Opportunity Marketplace apart from a 9-box:

In other words, the Opportunity Marketplace is not a mere enhancement of the 9-box grid but a platform that redefines potential by incorporating a multifaceted approach to career development. It empowers employees to explore diverse opportunities, connect with relevant learning resources and chart their own paths to growth within the organisation.

It is important to note that the Opportunity Marketplace is not a standalone product but an integrated component of the Cornerstone comprehensive talent management suite: the Learning Experience Platform (LXP).

The LXP serves as the hub for learning and development initiatives, offering employees personalised and engaging learning experiences. It also provides the necessary infrastructure to support the functionality and connectivity of the Opportunity Marketplace.

While the Opportunity Marketplace and LXP are a bundled solution for both new and existing Cornerstone customers, it’s also possible to integrate it with other learning management systems and platforms.

Here’s why integration between the LXP and the Opportunity Marketplace is essential:

The Opportunity Marketplace and the LXP are intrinsically linked, offering a bundled solution that empowers organisations to create a cohesive talent development ecosystem. The seamless integration between the two platforms ensures employees can access career opportunities while leveraging a robust learning infrastructure to nurture their skills and capabilities.

As you’ve probably seen by now, Cornerstone’s Opportunity Marketplace sets itself apart by offering a unique and comprehensive solution combining career development, learning opportunities and talent mobility within a single platform. It supplements your external hiring by fostering internal growth, provides a more robust means to evaluate employee development and integrates easily with any LXP.

Most importantly, it achieves results.

The Opportunity Marketplace enables career pathing, fosters employee retention, offers mobility opportunities and facilitates organisational agility. It empowers employees to take control of their professional development and find paths ahead within your organisation.

And when you help your people see their next steps forward, you’re well on your way to taking your organisation to the next level.

Ready to take the next step? Learn more about the Opportunity Marketplace here!