What the Opportunity Marketplace is not
Your people want to grow with you rather than without you.
But without providing them with internal opportunities for development, they’ll have no choice but to look for a place where the glass doesn’t feel half empty. That’s why stepping up and offering a development resource that points out clear paths forward and fosters a culture of growth and advancement from within is essential.
And it’s why we’re so proud of the Opportunity Marketplace. This innovative platform can help your organization bridge the gap between employee aspirations and organizational growth, providing a comprehensive resource to aid your team members toward personal and professional advancement.
But look, we know there are a lot of products to sift through to optimize your workplace, so you probably want to know just what makes the Opportunity Marketplace stand apart from other talent marketplaces and resources.
So let’s talk about what this game-changing tool isn’t.
The Opportunity Marketplace is not an ATS
An ATS (or Applicant Tracking System) streamlines the hiring process by managing job postings, collecting applications and tracking candidate information.
Its primary function is to facilitate the search for external candidates to fill vacant positions within an organization. It serves as a tool for recruiters and talent professionals to identify and source external candidates for open positions within a company.
By contrast, the Opportunity Marketplace offers a unique and transformative approach to recruitment by focusing on internal hiring and recruitment. In other words, it’s not a replacement for an ATS but a much-needed supplement. By breaking away from the traditional external focus, it allows you to find talent from within your ranks.
Here are just a few of the other major differences between an ATS and the Opportunity Marketplace apart from an ATS:
- Democratized access — Unlike the limited visibility of internal roles in traditional organizational structures, the Opportunity Marketplace ensures that everyone within the organization has equal access to available opportunities. It removes barriers that often make it challenging for employees to find and navigate potential career paths.
- Skill transparency — The Opportunity Marketplace goes beyond job titles and descriptions. It showcases the required skills and qualifications for each role, empowering employees to assess their readiness for new opportunities and identify areas for growth and development.
- Seamless integration — By connecting with existing ATS systems, the Opportunity Marketplace bridges the gap between internal and external talent acquisition. It allows organizations to seamlessly showcase job postings to both internal and external candidates, maximizing visibility and collaboration.
In essence, the Opportunity Marketplace connects to and enhances your ATS, rather than replaces it. It empowers employees to see a clear path forward within their organization, and it allows you to source the best possible talent from inside and outside your organization.
The Opportunity Marketplace is not a 9-box
The 9-box grid is a visual representation that ranks employees' performance and potential using a low, medium and high scale. It aids in succession planning and talent development by identifying individuals with the potential for future growth within an organization.
Cornerstone’s Opportunity Marketplace goes far beyond the confines of this grid, offering a much more sophisticated approach to identifying high-performing, high-potential candidates.
As such, it can also be used as a supplemental resource to build on the 9-box’s strengths. It aims to provide a broader perspective on career opportunities and aspirations, going beyond the singular focus on employee potential.
Here's what sets the Opportunity Marketplace apart from a 9-box:
- Holistic approach — While the 9-box grid primarily focuses on assessing employee performance and potential, the Opportunity Marketplace expands the scope by providing a holistic view of career paths, skills, and opportunities within the organization.
- Collaborative potential — The Opportunity Marketplace seamlessly integrates with Cornerstone Performance, providing valuable input for succession planning and talent development initiatives. It equips managers and leaders with a comprehensive understanding of employees' career goals, facilitating better alignment and collaboration.
- Focus on growth — The Opportunity Marketplace doesn’t replace or solve the specific needs of the 9-box grid. Instead, it acts as a dynamic resource that complements existing talent management strategies, offering a wider range of career possibilities and empowering employees to proactively shape their professional journey.
In other words, the Opportunity Marketplace is not a mere enhancement of the 9-box grid but a platform that redefines potential by incorporating a multifaceted approach to career development. It empowers employees to explore diverse opportunities, connect with relevant learning resources and chart their own paths to growth within the organization.
Our OMP is Not a Standalone Product
It is important to note that the Opportunity Marketplace is not a standalone product but an integrated component of the Cornerstone comprehensive talent management suite: the Learning Experience Platform.
The LXP serves as the hub for learning and development initiatives, offering employees personalized and engaging learning experiences. It also provides the necessary infrastructure to support the functionality and connectivity of the Opportunity Marketplace.
While the Opportunity Marketplace and LXP are a bundled solution for both new and existing Cornerstone customers, it’s also possible to integrate it with other learning management systems and platforms.
Here’s why integration between the LXP and the Opportunity Marketplace is essential:
- Synergized experience — Integration between the Opportunity Marketplace and LXP creates a seamless user experience for your people. It allows them to explore career opportunities, access relevant learning content and transition between career development and skill-building activities.
- Comprehensive talent development — Organizations can offer a holistic talent development ecosystem. By combining the Opportunity Marketplace with the LXP. Employees can identify career paths and access the necessary learning resources to bridge skill gaps and prepare for future opportunities.
- Enhanced data — Integration between the Opportunity Marketplace and LXP provides organizations with valuable insights. It enables HR and talent professionals to analyze the impact of learning and career development initiatives on individual and organizational growth, making informed decisions and optimizing talent strategies.
The Opportunity Marketplace and the LXP are intrinsically linked, offering a bundled solution that empowers organizations to create a cohesive talent development ecosystem. The seamless integration between the two platforms ensures employees can access career opportunities while leveraging a robust learning infrastructure to nurture their skills and capabilities.
OMP is not like other talent marketplaces
As you’ve probably seen by now, Cornerstone’s Opportunity Marketplace sets itself apart by offering a unique and comprehensive solution combining career development, learning opportunities and talent mobility within a single platform. It supplements your external hiring by fostering internal growth, provides a more robust means to evaluate employee development and integrates easily with any LXP.
Most importantly, it achieves results.
The Opportunity Marketplace enables career pathing, fosters employee retention, offers mobility opportunities and facilitates organizational agility. It empowers employees to take control of their professional development and find paths ahead within your organization.
And when you help your people see their next steps forward, you’re well on your way to taking your organization to the next level.
Ready to take the next step? Learn more about the Opportunity Marketplace here!
Want to keep learning? Explore our products, customer stories, and the latest industry insights.
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Today’s workers want room to grow. Your job as an employer is to empower them to grow with your organization. In other words, the best way to help your employees stay put is to show them how much room there is to move.
Opportunity Marketplace Datasheet
Unlock workforce agility and internal mobility by offering growth and development experiences for all your people.