In 2011, E*TRADE reviewed several major talent management systems. "We selected Cornerstone for three reasons,” said Dr. Lipsky. "First it's an organic integrated solution. Other systems were just a hodgepodge of different systems. Second, Cornerstone has a very intuitive look and feel. Finally, the people are wonderful. We've found that even after you're a client, Cornerstone teams are still engaged. They do a great job of creating a network of support."
Using the Cornerstone Learning and Performance Clouds, E*TRADE launched the E*MPOWER network, an integrated, branded talent management system designed to help develop, train, and promote their entire workforce. Cornerstone's solutions ensure 24/7 access to powerful tools and data on the web, giving human resources more time to cultivate talent management and development conversations.
Increased Employee Enablement: New employees have access to company information, training modules, and assessments for employees to get up to speed on the company's values and operating procedures, as well as business unit goals and strategies. Future E*TRADE brokers are able to easily train for the Series 7 exam through online learning modules. E*TRADE also developed a company-wide program that is role specific, self-paced, and designed around active self-motivated learning. Employees can engage in development opportunities, skill building workshops, and talent management webinar series. According to Dr. Lipsky, "With Cornerstone, E*TRADE has been able to move talent development to greater heights."
Improved leadership pipeline: The E*MPOWER network facilitates executive succession planning. Cornerstone helped develop and support the E*TRADE Leadership Program, an education program based on multiple leadership competencies featuring face-to-face and virtual learning sessions. "We're consciously building and retaining a team of leaders," said Dr. Lipsky. "The Leadership Program helps us deliver on our ability to create flexible talent pools to ensure readiness; energize, engage, and retain top talent; and increase business acumen."
E*TRADE also provides employees input and insight into internal career paths, as employees complete frequent self-assessments. Managers can develop model employee profiles and create, store, and integrate benchmarks for each position. E*TRADE is able to document criteria for success such as confidence, an ability to exceed key objectives, and a history of outperforming peers.
Cornerstone provided E*TRADE with a tangible return on investment, including:
- 85% reduction in IT support tickets
- 90% reduction in course searches
- 10% increase in demand to create and host content and curriculum across business units
- 5% increase in self-registered courses for employees