Step into the world of cutting-edge learning and development (L&D) with an exclusive discussion featuring the Global VP of Strategic Initiatives at Cornerstone, Mike Bollinger. The webinar focused on the Cornerstone Talent Health Index and its significant research findings on L&D.
Bollinger took the virtual stage and shed light on the challenges HR leaders face in the current landscape. These obstacles encompass talent shortages, increased employee job mobility, growing concerns about mental health and the transformative impact of AI and digital technologies on workforces. He emphasized the importance of investing in employee skills and growth, considering them pivotal in successfully navigating these challenges. Moreover, Bollinger referenced the World Economic Forum's skills report, underlining the urgent need for substantial investments in upskilling and reskilling within the existing workforce.
How High-Performing Organizations close the skills confidence gap
One of the key findings is the disparity between High-Performing Organizations and others. High-Performing Organizations are notably more successful in closing the skills confidence gap. They exhibit enhanced employee and customer satisfaction, as well as increased employee retention, productivity and revenue growth.
The dimensions where High-Performing Organizations excel were highlighted, including Culture & Technology, Skills Development and the alignment of Learning & Development content with proficiency levels. Bollinger underscored the importance of addressing skills gaps and providing employees with tailored career guidance and coaching. This personalized approach is deemed essential for nurturing talent and fostering a culture of continuous learning.
Digital transformation, AI and employee expectations
The impact of digital transformation and AI on skills development was thoroughly explored. A significant gap exists between employee expectations regarding these technologies and the extent of their adoption within organizations. This incongruity highlights the importance of aligning technology strategies with employee preferences and expectations. Employee trust and perception of organizational commitment to talent development was examined in their organizations. Building and maintaining trust emerged as critical factors in driving successful talent development initiatives.
Introducing the Cornerstone Talent Health Index
Bollinger introduced the global Cornerstone Talent Health Index, a powerful diagnostic tool comprising seven dimensions of talent wellness. These dimensions give organizations a comprehensive framework to assess their talent development strategies and maturity. The Talent Health Index was portrayed as an evolving component of Cornerstone's research efforts, enabling organizations to continually refine their approaches. Bollinger discussed Cornerstone's unique approach to maturity models, which are typically linear but must adapt to evolving challenges.
Cornerstone's model encompasses foundation, administrative, sophisticated and transformative stages, each representing distinct maturity levels. Importantly, individual dimensions for assessment were highlighted as a means to provide granular insights into organizational strengths and areas that require improvement. High-Performing Organizations excel in identifying skills aligned with business strategy, connecting learning content with skills and proficiency levels, incorporating talent mobility into development plans and actively investing in skills development.
Key findings from the Talent Health Index:
- A lack of maturity in talent health across organizations, with only 2% reaching the transformative level
- High-Performing Organizations outperform Laggards and Average organizations by 25% and 11%, respectively
- High performers excel in various dimensions, with significant disparities, particularly in Culture & Technology
- High-Performing Organizations prioritize investment in analytics and insights for future planning
From addressing the skills confidence gap to leveraging technology and personalization, this conversation illuminated the path toward transformative L&D. With the Cornerstone Talent Health Index as a guiding framework, organizations have valuable tools at their disposal to navigate the evolving world of work successfully. You can catch the entire webinar here.
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