Empowering Talent and Developing Strong Leadership Cornerstone

Empowering Talent and
Developing Strong Leadership
Founded in 1982, E*TRADE is a financial services company that provides
online brokerage and related products and services primarily to individual
retail investors. The company has nearly $2 billion in annual revenue and
is on the S&P 500 list of companies as of January 2013. To set the company
apart in the increasingly competitive financial industry, E*TRADE worked
to develop a more people-centric focus. In support of this goal, E*TRADE
sought to better empower employees. “Empowerment is a key element in
building a strong, committed workforce,” said David Lipsky, E*TRADE’s
Global Director of Talent and Organizational Development. “Helping our
employees create clear career paths in sync with organizational goals is
critical to our longevity and profitability.”
Empowering a global workforce of three thousand employees posed difficulty
as E*TRADE wanted to develop a single, integrated resource to effectively
manage and train staff. Furthermore, E*TRADE wanted this system to
efficiently implement robust learning tools, develop thorough succession
plans, and provide employees with tools to facilitate internal career paths.
Why Cornerstone
Cornerstone
Learning Cloud
Cornerstone
Performance Cloud
Vertical/Industry
Financial Services
Region United States
Live Since 2012
# of Employees 2,871
Business Impact
Enablement, Leadership
pipeline, Time Savings
In 2011, E*TRADE reviewed several major talent management systems.
“We selected Cornerstone for three reasons,” said Dr. Lipsky. “First, it’s
an organic integrated solution. Other systems were just a hodgepodge of
different systems. Second, Cornerstone has a very intuitive look and feel.
Finally, the people are wonderful. We’ve found that even after you’re a client,
Cornerstone teams are still engaged. They do a great job of creating a
network of support.”
csod.com/cs/etrade
With Cornerstone, we’ve been able to create a powerful talent
development and management process that engages, motivates,
and empowers our employees. This is invaluable to E*TRADE as a
market leader, especially in the face of the coming talent shortage
changes in the workforce landscape.”
- David Lipsky, Global Director of Talent and Organizational Development, E*TRADE
The Results
Using the Cornerstone Learning and Performance
Clouds, E*TRADE launched the E*MPOWER network, an
integrated, branded talent management system designed
to help develop, train, and promote their entire workforce.
Cornerstone’s solutions ensure 24/7 access to powerful tools
and data on the web, giving human resources more time to
cultivate talent management and development conversations.
Increased Employee Enablement: New employees have
access to company information, training modules, and
assessments for employees to get up to speed on the
company’s values and operating procedures, as well as
business unit goals and strategies. Future E*TRADE brokers
are able to easily train for the Series 7 exam through online
learning modules. E*TRADE also developed a companywide program that is role specific, self-paced, and designed
around active self-motivated learning. Employees can engage
in development opportunities, skill building workshops, and
talent management webinar series. According to Dr. Lipsky,
“With Cornerstone, E*TRADE has been able to move talent
development to greater heights.”
Improved leadership pipeline: The E*MPOWER network
facilitates executive succession planning. Cornerstone helped
develop and support the E*TRADE Leadership Program,
an education program based on multiple leadership
competencies featuring face-to-face and virtual learning
sessions. “We’re consciously building and retaining a team
of leaders,” said Dr. Lipsky. “The Leadership Program helps
us deliver on our ability to create flexible talent pools to
ensure readiness; energize, engage, and retain top talent; and
increase business acumen.”
E*TRADE also provides employees input and insight into
internal career paths, as employees complete frequent
self-assessments. Managers can develop model employee
profiles and create, store, and integrate benchmarks for each
position. E*TRADE is able to document criteria for success
such as confidence, an ability to exceed key objectives, and a
history of outperforming peers.
Cornerstone provided E*TRADE with a tangible return on
investment, including:
▪▪85% reduction in IT support tickets
▪▪90% reduction in course searches
▪▪10% increase in demand to create and host content
and curriculum across business units
▪▪5% increase in self-registered courses for employees
csod.com/cs/etrade
Cornerstone OnDemand is a leader in cloud-based applications for talent management. Our solutions
help organizations recruit, train, manage and connect their employees, empowering their people and
increasing workforce productivity. For more information about Cornerstone, visit csod.com.
© 2013 Cornerstone OnDemand, Inc. All Rights Reserved.
csod-cs-9/2013