Cornerstone Charts Strong 2022 Business Momentum
If our Q1 2022 trends are any indication, there's a rising demand at organisations for strategies and technologies that connect skills, learning, people experience and organisational agility.
We think that's because people want their organisation to invest in their skill growth and many organisations heard them and are evolving to meet these needs.
Milestones for the quarter included:
- Accelerated online learning content adoption
- Customer-driven enhancements to our product portfolio
- Expansive industry recognition for product leadership and customer satisfaction
- Pending strategic acquisition of EdCast to accelerate shared vision for reimagining the people growth experience at work
- New efforts to support and train humanitarian aid workers in Ukraine via the Cornerstone OnDemand Foundation
Learning Content Consumption Accelerates
As the year kicked off, Cornerstone saw 10% year-over-year increase in learning content consumption and a 5% increase in time spent on learning across its global customer base.
- This rise in learning content consumption highlights value of Cornerstone Content Anytime (CCA) to engage learners, build new inclusive skills and manage change with the top content consumption focused on remote work, mental health and wellness and unconscious bias.
- The company launched several new content offerings in its award winning CCA subscriptions in the quarter, including a new season of Cornerstone Originals DNA focused on Sustainability and an exclusive partnership with Masters of Scale, a genre-defining podcast series on how to think boldly and differently about the world.
- In response to world events, the Cornerstone OnDemand Foundation teamed up with its partners in Ukraine, including International Medical Corps, Mercy Corps and The KonTerra Group, to provide free, essential training in localised languages for humanitarian aid workers."
- Cornerstone also released free learning content on Cornerstone Cares to support self-care and building resilience in times of crisis.
Product Enhancements and Adoption Drive Customer ROI and Growth
Customer-driven enhancements across the company’s product portfolio in Q1 included continued innovation in skills and people experience, as well as expanded reporting capabilities that give talent leaders deeper insight into their employees’ skills, growth, performance and engagement.
Cornerstone customers see the value of placing employee development and experience at the center of their people strategies, demonstrated with extended customer relationships with SunLife, The Bozzuto Group, Generali, DPDHL, Saint Gobain, Grupo Security SA, Sandals Resorts, Grupo Softtek and Banco de Credito e Inversiones. New customers adopting Cornerstone to support their people growth strategy included Kelly-Moore Paint Company, Inc., OSF Healthcare, NorthWestern Energy and London Borough of Haringey, Husqvarna.
“At Bozzuto, we’re passionate about empowering our people to learn and grow with us starting from the first day they join our team,” said Steven Fretwell, Vice President of Learning and Leadership at Bozzuto. “Like many organisations over the past couple of years, we went through an important shift to ensure our people felt supported. Cornerstone helped us create a sense of belonging for new team members, and we are excited about expanding our partnership with Cornerstone. We look forward to implementing more innovations to drive exceptional employee experience for our people.”
According to The Forrester Total Economic Impact™ for Cornerstone Learning and Content, an independent study commissioned by Cornerstone Q1 of 2022, customers investing in Cornerstone learning and content solutions realised a 543% return on investment.
In Q1, Cornerstone received significant recognition for the company’s product leadership, customer satisfaction and for its own approach to building a learning and growth culture.
Industry research from Fosway, Forrester, and Constellation Research note Cornerstone’s product and market leadership, including:
- Recognised as a Strategic Leader in the Fosway 9-Grid™ for Learning Systems 2022 for the 10th consecutive year
- Named a Leader in The Forrester Wave™: Learning Management Systems and Experience Platforms, Q4 2021 report
- Constellation Research Shortlist for Talent Management Suites
Independent review sites recognised Cornerstone for strong customer satisfaction, including:
Cornerstone was also recognised for fostering a culture of learning and growth for its employees.
In its report of the 100 Best Large Companies To Work For In LA, Built In recognised Cornerstone for its leadership in talent management and the company’s prioritisation of helping employees fulfill their career potential.
With Cornerstone's recent announcement of its planned acquisition of learning and talent experience leader, EdCast, the company is poised to accelerate its vision for the people growth experience. More details on how the acquisition will create new value for customers will be shared when the transaction closes, expected in the second quarter of 2022.
Renowned industry analyst Josh Bersin sees positive market impact for the combination: “Cornerstone has outperformed its competitors for years, largely through its culture of customer-centricity, market savvy, and tenacity. EdCast did the same. Once these management teams come together, I see nothing but growth in the future.”
1. Global Cornerstone learning consumption data, January 2021 – January 2022