The move expands Cornerstone's holistic skills transformation capabilities, giving leaders a comprehensive understanding of what skills they have and what they need to solve for now and in the future
SYDNEY, Australia. – May 23, 2024 – Cornerstone OnDemand Inc., a leader in Workforce Agility solutions, today announced the acquisition of workforce skills intelligence capabilities and a team of highly specialised domain experts from SkyHive Technologies Holdings Inc. SkyHive's AI-powered skills intelligence platform and services help customers build skills-based organisations, providing visibility into the capabilities of employees and enabling organisations in their transformation efforts.
This acquisition accelerates Cornerstone's reskilling capabilities with predictive labour market intelligence, automated job architecture management, rapid skill proficiency detection, and other services to help organisations build agile workforces. Additionally, SkyHive aligns with Cornerstone's commitment to openness and extensibility by providing rich integration and normalisation for other skills-centric talent applications, simplifying customer technology stacks and improving time-to-value.
By parsing terabytes of global workforce, labour market and economic data daily, SkyHive provides real-time granular visibility into the global labour economy and forecasts emerging critical skills, helping organisations predict future needs. Complementary to Cornerstone's existing solutions, including the recently announced Cornerstone Talent Intelligence, this powerful data-rich solution will streamline any organisation's journey towards a dynamic skills-oriented approach to close the workforce readiness gap.
According to new research launched earlier this month, less than half (45%) of employers know of existing skills gaps and fully leverage those in their talent development strategies. This lack of skills awareness combined with the inability to take action highlights the workforce readiness gap that Cornerstone Galaxy aims to solve by enabling workforce agility within organisations.
"People are at the centre of everything that powers an organisation — from its competitive advantage to its ability to stay agile. But without a clear grasp on the skills landscape, organisations cannot train, empower or effectively activate their people to adapt to changing business needs," said Himanshu Palsule, CEO of Cornerstone. "With SkyHive's AI-powered technology, access to massive amounts of labour market data, and team of domain experts, we're able to accelerate our vision of helping our customers become agile and build skills-based organisations."
"For Cornerstone and SkyHive, our founding missions align and point towards a shared north star of educating and reskilling the world, so much so that it feels as though we were meant to come together," said Sean Hinton and Mohan Reddy, Co-Founders of SkyHive. "A skills centric approach is the future, but adoption of this approach has not reached the mass of its potential to transform the world. Together with Cornerstone we're excited to bring this to a wider audience and build upon this future jointly."
This announcement comes on the heels of Cornerstone's launch of Cornerstone Galaxy at Cornerstone's Connect Live events, which continues touring internationally in Stockholm (May 28), Sydney (May 29), London (June 4), Mexico City (June 6), Orlando (June 11), Paris (June 18) and more over the coming months.
