CORNERSTONE INSIGHTS

INCREASE YOUR TALENT IQ

Stop guessing and start making smarter

decisions about your workforce

BUSINESS LEADERS OFTEN SAY EMPLOYEES ARE THEIR MOST VALUABLE ASSET.

$110BILLION

1 IN 5

But how much insight do companies truly have into their workforce? Too many organizations rely on assumptions vs. facts when it comes to talent. Others simply have no reliable means of gaining better data and insight into the fitness and capabilities of their people.

Why is this? Part of the answer is data. But behind data is strategy – having the right processes and resources in place to gain better workforce intelligence and enable executives, managers and line leaders to make smarter decisions about talent. This includes decisions about hiring the right people, developing employees and keeping them engaged, and placing them in the right roles now and for the long run. Not having this information can potentially threaten the growth and profitability of your organization.

what U.S. businesses spend on talent acquisition1

of employers facing talent shortages say it is having a high impact on their ability to meet client needs2

We have a clear view of the skills and knowledge required to execute on current and future business objectives

We are able to consistently identify and recruit candidates with the right skills and who are the right culture fit

We can see how each employee directly impacts and contributes to the success of the organization

We have a pulse on employee engagement levels, as well as on what motivates our people and drives their productivity

We know which employees are flight risks so we can proactively address retention issues

Our training and development investments align with the skills and leadership needs of the business

We have succession plans in place for identifying and developing high performers and future leaders, as well as ensuring the right people are in the right roles across the business

We have insight into the career interests, expertise and capabilities of every employee in our company

WHAT IS YOUR ORG’S TALENT IQ?Answering NO to any of the following questions means the

health and success of your organization could be at risk.

WAYS TO YOUR TALENT IQ

50%

1REVAMP SOURCING AND HIRING ACTIVITIESRecruiting shouldn’t be a scattershot affair. But it also shouldn’t be so rigid that you overlook potential candidates because the timing isn’t right or because they don’t meet every item on the experience checklist.

How can you adapt your recruiting strategy to keep pace with a fluid – and highly competitive – talent market? Use modern tools such as social networks, video and mobile to forge deeper candidate relationships and create talent pools for current and future opportunities. Amp up employee referrals and internal sourcing. Shift to a process that focuses on hiring for potential and culture fit and training for skill. And create a targeted onboarding program that engages new hires from day one.

89%of job candidates want to apply for

jobs from their mobile phones1

of new hires fail because of attitudinal reasons (vs. lack of skill) within 18 months3

2Access to better employee insight creates an opportunity for a skills marketplace – pools of internal talent with very specific capabilities and expertise that can be pulled together for projects, tasks or leadership opportunities. Organizations with these abilities are inherently more nimble and competitive.

Achieve this by diagnosing the skills, knowledge and competencies needed to propel your business forward. Allow employees to go beyond the traditional resume and paint a more accurate picture of his or her interests, expertise and potential value to the organization. Identify and invest in closing the capability gaps across every level of your organization – not just among high performers. And make learning a part of the very fabric of work – timely, contextually relevant and easily accessible.

CULTIVATE A SKILLS MARKETPLACE

42%60%of companies cite “capability gaps” and “leadership

gaps” among their top talent challenges1

of employees are looking for a new job because they feel their current role doesn’t make good use of their skills and abilities4

3Evolving beyond a transactional performance management process gets you the data you need to make smarter staffing and development decisions – and it gives employees the feedback and recognition they crave, resulting in higher engagement and productivity.

How can you reach this nirvana? Enable and capture ongoing, real-time employee performance feedback and recognition from managers, peers, project teams and more. Encourage more meaningful performance and career discussions between managers and direct reports – with an emphasis on coaching and mentoring rather than judging and evaluating. And increase transparency and establish clear goals so that employees (and the organization) know how they’re contributing to the bottom line.

SPARK PERFORMANCE MANAGEMENT SYNERGY

31%companies with a “recognition-rich” culture have a 31

percent lower voluntary turnover rates than their peers1

63%of engaged workers would keep their

jobs upon winning the lottery5

4Work can and does happen anytime and anywhere – not just in the office from 9 to 5. Luckily, today’s technologies make it easier for employers to intertwine physical, mobile and virtual workspaces in ways that encourage more communication and collaboration.

How can your organization capture the collective knowledge of your workforce and ensure pockets of critical information aren’t hidden? Transform your talent management system into a one-stop resource that gives employees quick and easy access to the right people, information and resources they need to do their jobs. Provide user profiles that curate all of an employee’s system activity in a central place. And employ collaboration and project management tools to enable real-time networking, activity tracking and sharing of information across job functions, teams and time zones. The more active the participation, the more data organizations can capture for pinpointing where valuable expertise, skills and competencies reside.

HARNESS THE DYNAMIC WORKPLACE

of U.S. workforce (64 million employees) have jobs that accommodate at least part-time telecommuting6

$700BILLION

what U.S. businesses would save per year if these workers telecommuted just half the time6

50%

Cornerstone OnDemand is elevating what talent management software can do for your organization. We know the right approach to talent management is as critical as ever to gaining better workforce insight and making smarter decisions about your most valuable asset: your people. Find out how our unified, cloud-based solution – from recruiting, onboarding and learning and development, to performance management, succession planning and compensation management – can help your organization get to know its talent better, increase employee engagement, and facilitate where and how work really gets done today.

SOURCES

1. Bersin by Deloitte, Predictions for 2014: Building a Strong Talent Pipeline for the Global Economic Recovery, December 20142. Manpower Group, 2013 Talent Shortage Survey3. Hiring for Attitude, by Mark Murphy, Nov. 20114. Deloitte Talent 2020: Surveying the talent paradox from the employee perspective, September 20125. Gallup, August 20136. Global Workplace Analytics, August 2012

VISIT US AT CSOD.COM/REIMAGINE-WORK