Latest HCI and Cornerstone Research Explores Why New Skilling is Critical Right Now

CINCINNATI, OHIO – September 8, 2020 – The Human Capital Institute (HCI), and their partners at the Cornerstone People Research Lab, the research arm of Cornerstone OnDemand, Inc. (NASDAQ: CSOD), are releasing new research: “The Revolution is Now: New-skill Your Workforce to Catalyze Change.”

The business impacts from recent social and economic change is compounded by an emerging revolution in work.  The advancement of digital technologies and the integration of human and machine intelligence is radically re-shaping many occupations, creating new roles for needs we couldn’t anticipate, and requiring skills that are in short supply across the workforce.

Maintaining a competitive advantage means staying ahead of the demand for these hard-to-find skills through robust learning and development initiatives. But traditional approaches alone are unlikely to effectively fill the gaps in needed skill sets. Enter new skilling.

New skilling is an approach in which customized learning and ongoing development is extended to every level of an organization, building bench-strength for roles that may not yet exist within an organization. It relies on a combination of business processes and tools to project which skills will be needed most both now and in the future, assess the current inventory of skills within the organization, and identify skill adjacencies that can shorten the time to proficiency in new and needed areas of expertise.

Based on interviews with subject-matter experts and a survey of more than 250 research participants, HCI and the Cornerstone People Research Lab have identified six action items for a new-skilling approach that help organizations keep pace with its changing needs and priorities:

  • Understand which skills are needed now – and in the future.
  • Anticipate skills gaps and identify skill adjacencies.
  • Target learning to both roles and individuals.
  • Make learning and development a collective effort.
  • Diversify learning modalities.
  • Leverage technology to uncover needs, monitor progress and modify learning.

HCI has made “The Revolution is Now: New-skill Your Workforce to Catalyze Change” available for download at:

https://www.hci.org/research/revolution-now-new-skill-your-workforce-catalyze-change

Cornerstone’s Vice President of Strategic Initiatives, Mike Bollinger, and HCI researchers discuss the research in a free webcast entitled “Do You Really Know What New Skilling Means?” It is available on-demand here:

https://www.hci.org/webcast/do-you-really-know-what-new-skilling-means

About Cornerstone People Research Lab

The mission of the Cornerstone People Research Lab (CPRL) is to generate data-driven discoveries about the world of work today and identify emerging trends which will give rise to new work models. Its two primary areas of focus are corporate learning and development trends and issues related to the experience of people at work. CPRL is the research arm of Cornerstone, a premier people development company that believes people can achieve anything when they have the right development and opportunities. Cornerstone’s people development solutions are used by approximately 6,300 customers of all sizes, spanning more than 75 million users worldwide. Learn more at www.cornerstoneondemand.com.

About Human Capital Institute (HCI)

HCI was founded on three core beliefs:

  • Aligning human capital strategy with business strategy is the greatest accelerator of organizational success.
  • Organizations that align human capital strategy with business strategy outperform others.
  • Human Resources and talent management professionals with the right strategic skill sets and mindsets are uniquely positioned to enable organizations to do this.

The key to this success lies in HR professionals’ ability to become strategic partners in their business by planning, recruiting, engaging, and developing their people. Since 2004, HCI has built their research-based learning resources on your behalf to achieve that mission. HCI’s certifications, conferences, and on-demand content build strategic capabilities that drive personal and organizational transformation. Learn more at HCI.org.

Press Contacts:

Company NameHuman Capital Institute (HCI)

Media Contact: Kara Schott

Email: Kara.Schott@hci.org

Company Name: Cornerstone

Media Contact: Deaira Irons

Email: dirons@csod.com

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