HR leaders are grappling with the massive transformation taking place in the talent space. Changes in how we work, learn and connect have created an urgent need for a holistic approach to finding, growing and retaining talent.
Although learning and talent management products have swiftly evolved in the past two decades, silos among HR technology solutions still hinder progress. As one CHRO described it to us, "We seem to know more about a talent the day we hire them than we do a year after," pointing to the litany of disparate systems that the HR team navigates through the course of managing their talent lifecycle. On the other hand, using a monolithic system blocks you from taking advantage of all the innovation in the HR tech space.
Talent Experience Platforms, or TXPs for short, have emerged on the HR tech scene in recent years to break down these silos and better position organizations and employees for meaningful growth.
But the fact of the matter is that many still need clarification on what a TXP actually is and why it's an imperative tool to implement in this new era of work.
Well, we're here to help clear up any confusion!
The first step is understanding the fundamentals. Here are some common TXP questions I hear from HR leaders.
What exactly is a TXP?
In simple terms, a TXP is a set of solutions that helps organizations manage, grow and retain the talent within their organization. It connects learning and performance to talent management, skills management, career growth opportunities and insightful analytics. More than simply a product, it's a platform of integrated products that enable a holistic approach to uniting learning with growth opportunities.
As employees continue to expect tailored career guidance and organizations look to build business-critical skills, a TXP becomes the key to keeping employees engaged and preparing them — and the business — for the future of work. In short, TXP propels your business, talent strategy and outcomes.
How is the TXP different from an LMS and an LXP?
At its core, an LMS, or Learning Management System, helps teams offer, assign and keep records of required training. Although features and functionality have evolved, the LMS remains centered around the administrator's management of formal learning to meet the needs of the business. On the flip side, an LXP, or learning experience platform, is centered around the employee, self-directing learning and learning in the community. A good LXP provides personalized learning recommendations based on the learners' goals, facilitates learning with others and enables continuous skill development — all in a highly personalized and engaging way, much like Netflix, Spotify or Prime video.
A TXP becomes the platform that beautifully weaves the best of both, bridging talent and learning management with performance and growth opportunities centered around skills. In the case of Cornerstone, our best-in-class learning and performance meet personalized growth opportunities to deliver business outcomes.
What is the main HR issue a TXP addresses?
A TXP enables HR teams to truly unlock their organization's potential by leveraging technology that elevates growth and engagement opportunities for their people. At the same time, a TXP helps businesses make critical decisions about their talent, predict needs, fill gaps and automate processes, all driving business outcomes.
Additionally, because HR departments have historically relied on several different tools and vendors for this type of functionality, a TXP integrates all of these tools in a seamless, interoperable way. It acts as an intelligent connector for these disparate tools and data, giving HR leaders the full context, insights and visibility they need to implement impactful talent programs.
How do I know if my organization is ready for a TXP?
Every organization is different, but many of our customers knew they needed a TXP's holistic approach when they experienced a persistent misalignment between talent strategy and business outcomes.
For example, an organization has a business goal to improve employee retention by 15%. But talent leaders couldn't quickly map skills to performance and identify which employees had developed the skills to satisfy internal mobility and career growth opportunities. This lack of connection often leads to employee turnover. It's time to consider a change if talent leaders can't easily streamline learning, talent management and people intelligence.
What makes Cornerstone's TXP different?
The Cornerstone TXP combines our company's best-in-class learning and growth-centric talent tools with the power of AI and skills technology to help talent leaders drive transformational outcomes for people and businesses. Our TXP is a single platform that all of our products and solutions live on, which means they all seamlessly connect and they all benefit from the innovations that make Cornerstone a leader in the industry, such as:
- A powerful combination of AI and skills technology: We've pooled together a massive data lake from over 100 million users worldwide, a collection of 53,000 skills within our skill ontology, hundreds of job architectures and thousands of learning content sources. We use AI to unleash the power of this data, enabling our customers to see, match, automate, prescribe, predict and manage the supply and demand of talent and skills across their organizations. It's all part of the TXP's intelligent tech fabric that ultimately provides deep, actionable intelligence in a context-aware, personalized way.
- Flexible open architecture: Our TXP allows customers the freedom to connect with outside tools and applications. Open architecture means customers can integrate with other HR, HRIS, talent tools, communication platforms and even additional learning and talent management companies. We're competitive, but we're not jealous!
- Access to the best learning content available: TXP integrates seamlessly with Cornerstone Content Anytime, a set of content subscriptions that feature vetted, curated and impactful learning content that is proven to work. With AI-powered insights and context-aware personalization through the Content Studio, organizations don't have to sift through millions of courses themselves. They can rely on Cornerstone to do all that legwork for them.
- World-class talent management capabilities like learning, performance, recruiting, succession, compensation and more.
How do I "purchase" Cornerstone's TXP?
You don't have to! All our products and solutions are already built on the platform. So, if you're already a customer, know that your solutions are already connected and using AI and skills innovations from Cornerstone. Also, know that our other products are on the same platform, so if you're curious about adding to your talent technology ecosystem, you don't have to worry about complicated integration processes. You'll get those automatically through the platform as we announce more innovations and advancements.