Cornerstone OnDemand Partners with Institute for the Future to Forecast the Skills Required to Navigate the Future
SANTA MONICA, Calif. – February 22, 2018 - Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software, announced today it has partnered with Palo Alto-based think tank Institute for the Future to identify the urgent skills people must master today to distinguish themselves and survive the workplace of tomorrow.
As sweeping advancements in technology alter job roles in nearly every industry, employers are requiring augmented skills and completely new proficiencies. According to McKinsey & Company, an estimated 400 to 800 million individuals worldwide could be displaced by automation by 2030. Additionally, instead of relying on employees with broad, traditional degrees, organizations will start hiring those with specific experiences and skills, as well as those with the proclivity to learn new ones quickly and effectively. As a result, the world is embarking on an economy that is entirely skills-based.
The report, entitled Future Skills: Get Fit for What’s Next, maps out 15 “superskills” that workers and learners will need to prepare for the emerging skills economy. For example, the “Amplify Your AI IQ” superskill addresses how workers will need to learn how to understand, communicate with and repair AI technologies. As a recent report from Gartner states, AI will help create 2.3 million jobs by 2020, unleashing an immediate and urgent need for workers with this superskill.
As workers are required to constantly learn new skills, organizations must make it a priority to create a strong culture of learning that empowers them to continuously cultivate new skills. In a subsequent report released today, Navigating the Skills Economy: Why Creating a Culture of Learning is Now a ‘Change or Die’ Moment, Cornerstone explores why organizations will have no choice but to prioritize their workforce learning efforts and outlines concrete actions that organizational leaders can take now to start navigating the skills-based future. These actions include:
- Design a culture of learning. Companies that continually develop their talent will have a leg up on their competitors. A culture of learning is a strategic initiative that starts from the top, embraces modern learning technology, and celebrates and motivates learners as they grow.
- Empower employees to take initiative. Companies spend billions on corporate learning each year, but their efforts often have little to no impact due to lack of resources, minimal dedicated employee time and inefficient processes. In order to succeed, they will need to inspire their employees to take control of their learning and career development, and implement it in a way that is a part of their employees’ daily work flow.
- Deliver fresh, modern content. Many organizations struggle to keep pace with outdated learning content as new skill requirements emerge. They will need to embrace new technologies to supply their employees with the topics and formats that meet their evolving needs and interests.
Comments on the News
“Virtually every industry and every job will be impacted by technological change, and the skills that make us successful today are not the ones that we’ll need in the future,” said Adam Miller, founder and CEO of Cornerstone OnDemand. “We’ve partnered with Institute for the Future to identify the evolving competencies people will need and are working closely with our clients to help them build dynamic learning cultures that will power them through this monumental workforce shift.”
“We’ve embarked on a new reality where the lines between working and learning are blurring,” said Parminder K. Jassal, Director of Institute for the Future’s Work+Learn Futures Lab. “By partnering with Cornerstone OnDemand, we are able to take a closer look at the signals and environments of this new reality and offer organizations insight into how to prepare for what’s to come.”
- To learn more about how to prepare for the emerging skills economy, both reports can be downloaded at www.hr.cornerstoneondemand.com/navigatingthefuture.
- Read more about Cornerstone’s perspective on the skills economy on our blog at https://www.cornerstoneondemand.com/rework/5-ways-empower-employees-future-skills.