The first quarter of 2022 was a pretty great one for Cornerstone. You may have read our blog about everything we accomplished. So when we say that this quarter exceeded the high expectations we had coming out of Q1, know that we mean it. Mainly because we wouldn't have written this blog if we didn't.
In the second quarter of 2022, we were all about growth. Growth in our people, capabilities, expertise and ambitions.
Here are just a few of the things we accomplished in Q2:
- Uncovered leading trends across our industry
- Expanded our teams and capabilities
- Secured exciting wins with and for our customers
- Received consistent recognition from global industry expert
Each of these achievements helped cement our position as a leader in learning, skills development, content, and AI-powered people experiences.
And even with all that, there's still more to say about what Cornerstone accomplished in Q2.
Identifying leading trends across the skills development landscape
We kicked things off in a big way in Q2 with the release of our second global research study, Thriving in the Global Skills Shortage: Your Path Through the Wilderness.
The report placed a bright spotlight on organisational trends in the evolving skills development landscape, with a specific focus on the widening employee-employer Skills Confidence Gap and the ongoing sense of urgency surrounding skills and talent shortages.
The top three key findings from our research were:
- Employers and employees aren’t fully aligned on skill prioritisation
- Employees are not confident their organisations are prioritising skills in the future
- The Skills Confidence Gap narrowed or widened depending on organisational strength
Cornerstone CEO Himanshu Palsule summed it up best, calling the research findings a demonstration of "how organisations and their people continue to see skills development as an increasingly important part of navigating their shared future successfully.”
Remaining intentional in our business expansions
We acquired a full other company this quarter. And we made definitive plans to acquire another. This is how we really kicked our “growth” into full gear.
In Q2, we proudly completed the acquisition of EdCast, and with it promoted our intentions to revolutionise the learning landscape. Together, our teams have united and shared ambitious goals to solve the most critical talent and business demands we're seeing in work today.
We can’t wait to watch as our shared vision comes to life.
The Cornerstone and EdCast teams got to work quickly, announcing an exciting Zoom integration that will embed learning and training tools to help drive productivity and upskilling.
And what comes next after the completion of one acquisition? Plans for a second, of course.
We quickly followed the completion of our EdCast acquisition with the announcement of our definitive plans to acquire SumTotal.
Now, we can’t share too much just yet, but we can say that this partnership will introduce some seriously impactful improvements for our customers in how they identify and develop the skills of the future, engage and grow their people, and adapt to organisational agility.
EdCast and SumTotal weren’t the only newcomers on the block, however. We also welcomed two powerhouse leaders to our executive team:
- Ryan Courson joined Cornerstone as our chief financial officer. A fun fact about Ryan? He previously served as the youngest CFO of a public company, the Seaspan Corporation (no big deal!).
- Carina Cortez also joined Cornerstone as our chief people officer. Coming from Glassdoor as their CPO, Carina brings a unique perspective on the power of people growth and strong company cultures.
Customer success all around the world
Q2 was no exception when it came to helping our customers create purpose in what they do. Our successful efforts to help bring their organisations to the next level were reflected in our customers’ expanded partnership offerings, relationship extensions, and many new customers.
Just a few of the legacy customers that saw more success with Cornerstone this quarter include:
- Smith and Nephew CDN
- Allegis Group
- AmeriHealth Caritas
- Viking Group Inc.
- Americold Logistics
- Indiana Packers Corporation
- The National Bank of Indianapolis
- Ziggy’s Home Improvement
- Vital Farms
- Vensure Employer Services
And new customers finding success as they start their journeys with Cornerstone:
- Grammar AG
- Texas Commission
- TOI Management
Many of our customers took their success to the big screen, garnering award-winning recognition. A special shout out to Suntory Holdings, Cardinal Health, DPDHL, and Estee Lauder Companies for securing big wins from the 2022 Chief Learning Officer in the Learning Elite Awards. Each of these customers was recognised for best-in-class levels of performance across five dimensions: learning strategy, leadership commitment, learning execution, learning impact, and business performance results
We're just happy to be a part of it.
Our customers weren’t the only ones winning in Q2
Seeing our customers thrive is always a win for us. We don’t mind accepting a little love from our industry, too. Cornerstone received a flurry of recognition from established industry experts and reports, including:
- Recognition as a Strategic Challenger in the Fosway 9-Grid™ for Talent Acquisition
- Ranking in HRO Today's L&D Baker's Dozen
- Named a Leader for Worldwide Modern Talent Acquisition Within Talent Management and Worldwide Modern Talent Acquisition by IDC MarketScape
- Winner of the 2022 Craig Weiss Top-Ten Learning Systems
- eLearning Industry’s Top Extended Enterprise Learning Management Systems List
- Rated as a Leader by HerbertNathan & Co. in the first Scandinavian LMS Report
We also welcomed several meaningful awards in Q2 for our products, industry influence, and original content. Some highlights include:
- TrustRadius Top Rated Awards for Talent Management Winner
- Women Impact Tech 100 Honoree
- Top 100 HR Tech Influencers Winner
- Inspiring Workplaces Enterprise Finalist
- HR Tech Awards Winner for Best Advance in Practical AI in Talent Development
- 6-time Telly Award Winner for Cornerstone Originals for excellence in Diversity & Inclusion, Workplace Culture, Sustainability, and Corporate Training
Q3 and beyond
With the news of our intention to acquire SumTotal, there’s no doubt we will see even greater opportunities to help a larger, more diverse group of customers in Q3. Stay tuned for more on that in the second half of 2022.
In the meantime, we’ll keep investing in our products, cross-functionality, and customer engagement to take our people experience, learning, and talent initiatives to the next level.
We don’t take all these accomplishments lightly, and we’re proud to say that we’re on a clear path to changing the game in learning, skills development, content, people experiences and so much more. Be sure to check back in Q3 to see the latest and greatest from Cornerstone!
Laying the foundation for a standout year – Everything Cornerstone was up to in Q1
In 2022, we were intentional about setting ourselves and our customers up for greater success and an even deeper innovation roadmap. So, you can imagine our excitement when we say that 2023 is already gearing up to be a standout year.
Cheers to a year of innovation – closing out Q4 strong at Cornerstone
If Q4 cemented one thing, it's that our industry is ripe for reinvention. We’ve watched as talent experience continued to take on new meanings, adapting to the new world and new rules we’re living in. As leaders in the HR and talent space, we’re energized by the role we play at the forefront of this transformation, and the opportunity to create talent experiences that motivate, inspire and support people so they can reach limitless potential and success.