Talent Management: Why It s Critical for Business Success

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1 Talent Management: Why It s Critical for Business Success Integrated talent management drives measurable results by aligning employee development to your business goals. Learn how. Contents Aligning Individual and Company Success. 2 Break Down Silos, Manage People Better. 3 Maximize Your Speed to Value. 3 Invest in Client Success. 4 Begin Your ITM Journey Today. 5 Brought to you compliments of Gone are the days when employees would sign on with a company and spend the bulk of their careers in that one organization, growing along with the business. Today s highest performing employees are hungry for compelling opportunities with employers that recognize and actively grow their talents. An employer that doesn t deliver on this agenda won t employ great talent for long. And you know from experience that the loss of a single star performer can be more damaging to the business than losing several middle-of-the-pack employees. Are you ready to attract, grow and retain the talent that will keep your company in the forefront? Consider a few simple indicators of your ability to nurture employees who drive growth: Do you document metrics that tie individual performance to business objectives? Are there learning opportunities to enhance employees skills for the benefit of the company and the individual? 2013 Cornerstone OnDemand, Inc.

2 Do you manage people through continuous dialogue, as opposed to a one-time annual performance review? Do you have data that clearly identifies top performers and helps you build a strategy to retain and grow them? Do you have the strategy and tools necessary to drive collaboration from a rapidly changing, multigenerational workforce? If you answered no to even one of these questions, it s vital that you come up to speed quickly on integrated talent management (ITM). Aligning Individual and Company Success Your company is only as good as the employees you select to drive it. Managing and developing employees isn t the job of one person or department, and it s not something you do once a year. To effectively implement a talent management strategy, employees must clearly understand and be aligned with the organization s key performance indicators (KPIs): Are you striving to seize marketshare leadership in the year to come? Grow revenue 15%? Enter new, high-growth markets? ITM provides the connective tissue that links corporate and individual goals in a single system. It lets an organization formally capture corporate KPIs and parlay them into performance plans for departments and individuals. ITM will quickly identify whether your human capital has the skills to meet larger corporate objectives, and help you select the right people and put them in the right roles at the right time. If there are gaps between what the company needs and how well equipped a particular employee is to facilitate those objectives, ITM will identify learning opportunities to close those gaps. Performance feedback has the greatest impact when it s being delivered along with a development opportunity. Linkage between corporate KPIs and individual performance ensures: Employees performance expectations are crystal clear at all times. Employees see directly how their efforts contribute to corporate success. Employees engagement and motivation levels are maximized, leading to better performance. Managers can objectively identify and rank stars as well as mid-tier and lower-tier performers using data-driven analysis. Next, it s critical to understand the value behind an organic, or natively integrated, approach to talent management that delivers on the promise of ITM Cornerstone OnDemand, Inc.

3 Break Down Silos, Manage People Better Some companies have deployed individual systems to manage recruiting, onboarding, learning/ training and performance management. However, they can t easily share data among silos, connect corporate and individual goals, or close skills gaps. Lack of a holistic, metrics-driven view of their talent adds complexity and, in some instances, cost to the talent management lifecycle. Even when companies select a single source for talent management applications, their providers have often pieced together some portion or all of their portfolios through acquisitions or partnerships. These disparate systems create significant challenges in reporting because they make it difficult to achieve a consistent view of data. Because the systems haven t been built from the ground up to work together, they lack the integrated aspect of ITM, making them laborious to deploy, manage and support not to mention creating a challenging user experience. Worse still, a huge number of businesses are scraping by on a disparate, complicated mix of spreadsheets and Word documents that are as time consuming as they are ineffective at people management. The real talent management payoff becomes possible for companies that embrace a fully integrated system that delivers on all phases of talent management: Recruiting: To find the right talent inside and outside the company. Learning: To develop the right skills and identify future leaders. Performance: To align and engage employees to deliver on business goals. Enablement: To train, educate and enable your external networks, including customers and partners. Organic ITM is built from the ground up to leverage the data within and between modules, so you benefit from a single source of intelligence on your employees. This helps you drive your personnel strategy career plans, organizational structures, succession plans while identifying any talent gaps that prevent the business from pursuing new opportunities. The organic approach yields improvements against corporate KPIs and human capital metrics, including retention rates, time to hire and recruitment costs. Maximize Your Speed to Value There are a variety of cloud-based talent management solutions that deliver on the proven benefits of the cloud: lower cost of entry, greater flexibility and the ability to offload the burden of maintaining your own IT infrastructure. Such solutions give managers the flexibility to focus on managing people, not systems. But important differences among systems are a big factor in determining how quickly your company is able to derive value Cornerstone OnDemand, Inc.

4 Speed to value is a critical consideration when evaluating systems, since it will determine both your return on investment (ROI) and your payback period. These metrics are at least as important as the up-front cost of any system. Among ITM systems, Cornerstone OnDemand delivers rapid speed to value and differentiates itself by providing: An integrated, organic architecture. With a common code base, user interface, development team and support organization, Cornerstone OnDemand is the only system built from the ground up to deliver ITM in a scalable fashion. There s no third-party code bolted on. Cornerstone OnDemand offers a single data model, integrated reporting, and a single upgrade and maintenance path. A flexible deployment model. Because the applications are developed in a modular fashion, you can deploy the functions you need most, in the order that makes the most sense for your business. If managing performance is your biggest challenge today, you can deploy the performance module to begin driving results near term. If you choose to maintain a narrow focus, you can do so, or you can expand into other functions quickly. With Cornerstone, easily deploy at your own pace, with a crawl, walk, run philosophy. Embedded content. A talent management system that doesn t give you the basics to get things rolling is analogous to a library with no books. Cornerstone comes with a starter set of books that accelerates speed to value. Examples include a comprehensive competencies library, recommended development actions and more than 200 preconfigured reports. Because of the organic connections within the platform, competencies in performance are tied to development and learning objects, for example. Built-in training and certification. Cornerstone connects your employees with third-party and internal training classes that address gaps as they are identified in fact, there are more than 30,000 titles from e-learning providers. Training and certification opportunities apply not only to employees, but also to your customers and trusted business partners. As one example, Cornerstone s Extended Enterprise Cloud can be used for certification and training of channel partners to ensure that they are driving success for your business as well as theirs. Social learning and participation. Cornerstone gets employees involved in talent management, incentivizing performance by encouraging people to recommend, vote on and laud peers for work done well. Peer-awarded attaboys are one quick way to spread the word, drive grassroots acceptance and deliver impact faster. Featuring social networking that includes product innovation communities, the Cornerstone system provides employees with excellent opportunities to rate and share ideas. It is also fully optimized for mobile access, so your workforce can continue to engage with the system from mobile devices. Invest in Client Success While some companies have employed one element of talent management, such as a subscription to a third-party recruiting system or a cloud-based onboarding system, many have never utilized an ITM system before. When you do embrace ITM, choosing the right supplier and system is a critical step but it s only the first step. To derive maximum value, you need expertise and support as you roll out ITM Cornerstone OnDemand, Inc.

5 With Cornerstone, you ll have access to experts in human resources practices and systems. These support professionals serve as advisers and subject matter experts so you can quickly turn automated functions into business value. The support structure ensures that you can adapt your ITM installation as business needs change. You choose the level of support that s right for you, ranging from a minimalist approach to get you started to full-blown, ongoing support throughout your deployment. Cornerstone will assign you a client success manager who specifically serves as your single point of contact, and who understands and is focused on your business results, not on selling additional products or services. Begin Your ITM Journey Today To get more insight into the benefits of ITM and how Cornerstone OnDemand can help you build a cohesive strategy to optimize your human capital, visit reimagine-work. As you consider your talent management options, keep in mind some of the key factors you should focus on: A turnkey, organic platform vs. applications strung together. Speed to value, ROI and payback period. Support and customer-focused resources. A system that will help you build an organization that is a sought-after destination for great talent. The ability to recruit, onboard and retain the best people is the single biggest factor in your business results. You need a technology platform that s agile enough to evolve with the changing nature of today s workforce so you can select and grow the right people to ensure your success Cornerstone OnDemand, Inc.

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