(Santa Monica, CA, Monday, May 6, 2019) – The CEO of Cornerstone OnDemand, a leading online education company, is challenging fellow CEOs to dedicate more of their employees’ time to training and development. As unemployment falls to levels not seen in 50 years – with the latest figures showing a 3.6 percent drop from 3.8 percent in April – Cornerstone CEO, Adam Miller, says companies must double down on keeping their workforce – and preparing them for what’s to come.
Cornerstone and its CEO have announced the 5 for 20 Challenge, which is a program designed to help companies across industries solve the skills divide and better prepare for the workforce of the future. This new program challenges companies to dedicate 5 percent of their employees’ time to learning, which will deliver significantly improved employee retention – up to a 20 percent reduction in turnover – and a higher-performing, more future-proof organization.
According to the National Skills Coalition, middle-skill jobs comprise 53 percent of the U.S. job market, but just 43 percent of U.S. workers have the skills required in those jobs. The bottom line: There simply aren’t enough properly skilled candidates to fill the jobs of tomorrow.
Making a financial investment in learning is just the first step for companies that want to bridge the skills divide. For the investment to pay off, companies need to make learning an ongoing practice that is part of their company culture. They need to provide learning programs that allow all their people to develop the skills they need to take advantage of changes in the business and technology landscape.
Challenge-takers can find a guide to implementing an expanded commitment to learning, ways to measure the results of their investment, and marketing and communications examples to promote the challenge internally and beyond. To learn more and get started, visit the 5 for 20 Challenge website.