News: Are employers giving people what they need to build skills for the future?

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Are employers giving people what they need to build skills for the future?

Press release: Cornerstone's new report finds that nearly half of employees don’t believe they have what they need from their employer to build the skills they will need for the future.
Are employers giving people what they need to build skills for the future?

Press release provided by Cornerstone OnDemand.

Cornerstone OnDemand, Inc., a leader in learning and talent experience solutions, today announced the release of its 2023 Talent Health Index, providing a comprehensive view of the state of talent programmes across organisations worldwide. The report, led by the Cornerstone People Research Lab, finds most organisations are falling behind with their talent health initiatives. The data reveals a persistent gap between what employees think they need to be able to grow and develop at work, and what today's talent programmes are actually providing them. This enduring gap cements the need for organisations to invest more in a holistic talent strategy to develop their people’s skills and adapt to sweeping workplace changes. 

Key findings from the report include:

  • Employees want more development opportunities from their organisations: Findings showed that 41% of employees don’t believe they have what they need to develop their skills. Furthermore, 65% of employees are seeking additional learning content, 62% of employees are eager to find more coaching and mentoring and 59% of employees are on the lookout for more career guidance.

  • Most organisations have significant room for talent programme improvement: The average Talent Health Index score placed employers in the Administrative maturity level, demonstrating a mastery of the basics and very early exploration of new innovation. In this level, talent programmes are behind in automation and have yet to build a robust learning strategy.

  • Organisations are slow to adopt emerging talent innovation: Only 37% of organisations say they leverage learner-centric tools to streamline talent processes and info, and more than 60% of organisations stated they are not yet leveraging AI technology to optimise their talent. 

The Skills Confidence Gap Persists

A series of survey questions also addressed how employers and employees perceive how their organisation is supporting their overall learning and development, growth paths and specific skill development. The report findings revealed a vast majority of employers feel confident they can develop their people’s skills (88%), while employees agree to a far lesser extent (59%) — creating a 29% confidence gap. Since Cornerstone’s initial 2020 research on skills confidence among employers and employees, this gap has remained stagnant at around 30% year over year, signifying that organisations have yet to provide the level of skills development tools and support that employees are looking for. 

High-Performing Organisations are Fit for the Future

Not all organisations are lagging in maturity. The report showed that organisations that rated themselves higher in customer satisfaction, productivity, employee retention and overall performance — categorised as High-Performing Organisations (HPOs) — exhibited a notably higher score on the Talent Health Index as well. On average, HPOs landed in the Sophisticated level and, specifically, exemplified higher maturity levels in these three dimensions: Content Strategy, Skills Strategy and Performance Management. 

Employees at HPOs also rated their talent programmes higher in key areas related to development and opportunity:

  • 96% of employees at HPOs see their organisation tangibly demonstrate how they help them develop

  • 92% express confidence in their talent development initiatives

  • 96% believe their employer cares about them and their growth

Additionally, HPOs reported a 6% skills confidence gap — a 5x smaller gap compared to the average organisation.

“In an environment of constant change, workforce innovations, and new cycles of talent development, improving the maturity of your talent programmes is critical. The secret to adapting to all these new workplace changes and thriving in the future lies in an organisation’s willingness to modernise their talent strategies and invest in their people,” said Himanshu Palsule, CEO, Cornerstone. “Through our Global Talent Health Index, we aim to help customers identify areas of significant opportunity, create a roadmap for success, and build talent programmes and employee experiences that drive real business impact.”

"Understanding the current state of your talent programmes and organisation is the first step in building exceptional programmes to support an engaged and thriving workforce,” said Jennifer Clouser, Talent Development Specialist, The Pennsylvania State University. “By completing the assessment, your organisation will receive a report detailing where on the maturation journey, from Foundational to Transformative, your talent programmes lie. This knowledge can be used to enhance the strategies of the organisation.”

Coinciding with the release of the Talent Health Index, Cornerstone today also announced the availability of a free, online self-assessment, offering organisations an in-depth evaluation of their talent programme’s maturity level along with related resources for continued development. To see how your talent programme stacks up on the maturity model, take the free, online self-assessment here.

Cornerstone partnered with The Starr Conspiracy to create the Talent Health Index report, surveying more than 700 talent and business leaders and over 1,400 employees across North America, Europe, and Asia Pacific. Survey questions focused on the maturity level of seven critical talent programme dimensions, including Culture & Technology, Skills Strategy, Learning & Development, Content Strategy, Performance Management, Talent Mobility and Talent Reporting, Data & Analytics. Based on respondents’ answers, the maturity of their organisation’s talent programme was defined in one of four overarching maturity levels: Foundational, Administrative, Sophisticated and Transformative, with each level building on the previous one. See the report for a full overview of the research methodology. 

 

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Topics: Skilling, Press Releases, Learning & Development

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