Cornerstone Announces Opportunity Marketplace: A Revolutionary Way to Grow People and Redefine Potential
Cornerstone’s trailblazing new offering harnesses Artificial Intelligence and transformational design to revolutionise talent mobility and empower people to take control of their own destiny.
Cornerstone OnDemand, Inc., a pioneer in learning and talent experience solutions, today announced the industry’s first holistic career growth, mobility and talent marketplace, Cornerstone’s Opportunity Marketplace. A new product available within Cornerstone’s Talent Experience Platform, Opportunity Marketplace combines the power of Artificial Intelligence and the principles of human-centred design to unlock new possibilities for people and enable organisations to improve employee engagement, retention, workforce agility and internal mobility.
Unlike internal job marketplaces and other talent mobility point solutions, Opportunity Marketplace leverages AI to unify skills, people and job role data across multiple talent solutions – including recruiting, learning and performance – to connect employees to projects, gigs, learning paths, mentorships and open roles to assist employees in discovering new ways to contribute and belong.
By empowering people with consumer-grade tools to take control of their own growth and career development, Opportunity Marketplace addresses some of today’s most urgent business challenges related to workforce planning, employee productivity, engagement and retention. With Opportunity Marketplace, organisations can:
- Improve workforce planning: Quickly changing strategic priorities means businesses must respond to dynamic needs and market shifts at a moment’s notice. Opportunity Marketplace improves visibility into workforce skills so businesses can quickly upskill or match employees to opportunities and projects for greater workforce agility.
- Enable internal talent sourcing: Looking externally for candidates is not always viable and finding the right talent with the right skills is more competitive than ever. Opportunity Marketplace increases the transparency of the skills, experiences and preferences of a given workforce so businesses can easily source employees in their existing talent pool for open roles or projects.
- Empower internal mobility: According to Cornerstone’s 2023 research on talent mobility trends, 73% of employees want to know about career opportunities inside their organisation, and 47% would be more satisfied if they had more opportunities to explore careers internally. Opportunity Marketplace improves employee access and exposure to internal opportunities for career growth, enabling people to discover new ways to contribute and belong within an organisation rather than seeking advancement elsewhere. Employees can also plan for future career moves through a seamless GPS-like experience with access to explore relevant coaching, mentoring and learning opportunities.
The rapidly evolving talent landscape shows no signs of slowing. Career paths are changing, employees are craving flexibility and organisations – like people – are looking around every corner for opportunities to grow and surpass their potential,” said Himanshu Palsule, CEO, Cornerstone. “For businesses to truly thrive today, it’s imperative they seek out new strategies and emerging technologies that will foster an agile and adaptable workplace. Cornerstone’s Opportunity Marketplace goes beyond the one-dimensional job boards and talent marketplaces of today. It is a holistic solution that businesses can implement to create engaging learning, performance and development paths for their people. Opportunity Marketplace fosters a more engaged, self-developing workforce and better positions organisations for longevity and success.”
Cornerstone Opportunity Marketplace offers customers:
- A Fully Connected Learning Ecosystem: Seamlessly integrated with Cornerstone’s EdCast Learning Experience Platform (LXP), the combination of both offerings allows organisations to provide their employees with transformative end-to-end learning opportunities that fuel their unique development and career journeys.
- Unified User Experience: Employees experience a single, seamless and holistic experience where they not only interact with their learning content, but also have visibility into their career growth opportunities. Accessible within the EdCast by Cornerstone LXP, Opportunity Marketplace is easy to find and tailored for every user.
- AI-Powered Talent Intelligence: Because Opportunity Marketplace is built on Cornerstone’s Talent Experience Platform, it is powered by an intelligent tech fabric that leverages sophisticated AI technology. Opportunity Marketplace collects and analyses people, skill and job role data across the organisation to help HR leaders manage their talent pools, visualise skills, close skills gaps, map skills to performance, match supply and demand and elevate learning content curation and management. For employees, Opportunity Marketplace leverages AI to provide transparent personalised career opportunities and recommend paths for growth and success, including new learning content and potential mentors within the organisation.
Meredith Wellard, Vice President of Group Learning Talent and Platforms at Deutsche Post DHL, and an early adopter of Opportunity Marketplace, said “Opportunity Marketplace is an AI-based tool that has really changed the way we look at the future world for us. At the click of a button, we can identify the next best career move for any given role inside our organisation, and what skills they have that may be transferable to other parts of the business or that they would like to develop further to be a stronger candidate for another division or another country. It opens the door for endless possibilities for our people and our business."
David Wilson, founder and CEO, Fosway Group, Europe's leading HR industry analyst, said “The opportunity to apply and develop skills is as important as the learning that supports it. With Opportunity Marketplace, Cornerstone is responding to a growing demand for solutions that close critical skill gaps and provide new ways for employees to grow within the organisation as well as creating innovative talent models to address critical skills and labour shortages. By integrating Opportunity Marketplace with the foundational learning and solutions that talent leaders need to support their talent operations, leaders can intelligently leverage people data, skills and content across all the talent systems within the enterprise. This is a powerful way to accelerate organisational transformation, as well as satisfying the increasing expectations of employees.”