Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based talent management software solutions, today announced new dashboards for Cornerstone Insights, the company’s predictive analytics solution that applies data science to empower business leaders with the right data to better recruit, train and manage their people. Cornerstone Insights applies machine learning technology to Cornerstone’s massive data set in order to make prescriptive recommendations to address specific business challenges.
A study by the global consultancy Bain & Company[1] found that companies using sophisticated, predictive analytics techniques were twice as likely to deliver high-impact recruiting solutions and five times more likely to have faster decision making. The study also found that those companies have leadership pipelines that are 2.5 times healthier with stock market returns that are 30 percent higher than the S&P 500.
The initial release of Cornerstone Insights is focused on specific dashboards that address two critical issues facing companies. The Compliance Control Insight and Compliance Guide Insight dashboards address the challenges organisations face in highly regulated fields such as financial services, healthcare, and life sciences to mitigate legal and regulatory compliance risk associated with mandated employee training. The Predictive Succession Insight dashboard helps managers identify employees who are predicted to be strong internal candidates for open positions while also promoting career mobility within an organisation.
Cornerstone Insights
Compliance Control predicts the risk associated with employees not finishing a course or learning object by the required deadline, ultimately preventing future non-compliance and potentially negative impacts on the business. Organisational uses and benefits:
- Shows the current and highest risk levels
- Identifies specific at-risk employees and likely reasons for non-compliance
- Increases compliance likelihood
- Prevents future non-compliance
Compliance Guide allows organisations to uncover non-compliance predictive factors, identify areas of impact, plan for policy recommendations and changes, and visualise the effects of those actions. Organisational uses and benefits:
- Uncovers non-compliance predictive factors
- Reduces risk for regulatory fines
- Helps prevent employee downtime
- Understands the factors that drive compliance
- Recommends policy change to increase compliance
Predictive Succession helps organisations identify good internal candidates to efficiently fill open positions. This serves to drive engagement and retention of a company’s high performers and promote internal and upward mobility within the organisation. Organisational uses and benefits:
- Predicts employees with high readiness and potential to succeed in new roles in the near or long term
- Determines factors that drive success predictions
- Drills down into specific successors to better understand their skills and readiness
Comments on the News
“Cornerstone is constantly striving to extend the impact of our technology to drive talent management actions that matter,” said Adam Miller, founder and CEO of Cornerstone OnDemand. “By leveraging our massive data and machine learning with our expertise in talent management, we believe we are ideally positioned to help our clients make smart, data-driven decisions.”
“As a pioneer in workforce data science, Cornerstone is using one of the most refined machine learning systems for talent management available to pull meaningful business insights from our massive network of shared talent data from more than 2,000 clients over 15 years,” said Max Simkoff, VP Analytics, Cornerstone OnDemand. “Cornerstone Insights delivers a powerful suite of dashboards to harness the power of predictive analytics and help our clients to quickly make well-grounded, far-reaching decisions that solve important business problems and push employee productivity to the next level.”
Cornerstone executives will be showcasing Cornerstone Insights in October at Cornerstone’s annual European client conference, Convergence EMEA, and also at the HR Technology Conference. Cornerstone intends to continually release new Insights products that predict business outcomes across its talent management suite that address employee training and development, career mobility, flight risk, recruiting, and more.
