Cornerstone OnDemand, Inc. (NASDAQ:CSOD), a global leader in the cloud-based learning, talent management and emerging talent experience market, announced today a collaboration with Facebook’s Oculus to accelerate the role of Virtual Reality (VR) in training and developing the global workforce.
More organizations are turning to VR to increase training efficiency and efficacy among their employees. For example, workers in high-risk fields, such as manufacturing or energy, are training with VR to reduce the risk of injury and costly mistakes. Other industries, such as healthcare, are relying on VR to train for medical procedures and to replicate otherwise impossible situations. This is just the beginning of this transformative trend. According to Tractica Research, the global market for business use of VR hardware and software is expected to grow from $1 billion in 2018 to $12.6 billion by 2025. Earlier this year, Facebook announced the new Oculus for Business platform designed to make it easier for companies to bring headsets, including Oculus Quest, into the workplace.
As the use of VR in the workplace expands, two of the biggest challenges companies face are having the ability to easily track the use of VR training content and measuring the effect it has on employee performance. Today, many organizations are forced to rely on time-intensive, manual data entry and spreadsheets to capture and analyze the impact of their most innovative training content.
Under the agreement, Cornerstone will work with Oculus for Business to let shared clients build apps that can seamlessly track VR training completion data directly within the Cornerstone Learning Management System (LMS). This functionality enables them to access immediate insights into who is using their VR training content and how the training content is impacting employee performance results.
Companies, like Nestle, already see the value of this technology. “Nestle Employees deserve the best immersive training experience enabled with virtual reality and ensuring we can track completion of this training is a critical metric for our business operations,” said Jo-Anne Rossouw, Head of Digital Learning, Nestle.
SDK for VR Content Developers
To further accelerate the growth of the VR learning content market, Cornerstone will release a SDK for VR content developers to expand LMS integration standards across this new medium. The SDK, compatible with Oculus for Business, will help VR content developers with user authentication, company portal authentication, tracking xAPI progress and pushing that to Cornerstone’s transcript. The VR SDK will be widely available starting next year.
“We’ve seen a growing interest from our clients to start incorporating virtual reality into their skills training and development programs,” said Adam Miller, Founder and CEO, Cornerstone. “We quickly realized we needed to create a simple, efficient process for capturing and measuring the impact of this type of training data. We feel collaborating with Facebook and Oculus was the best choice to ensure reach and scalability across our mutual clients.”
- To learn more about Cornerstone Learning, visit: https://www.cornerstoneondemand.com/learning
- To learn more about Oculus for Business, visit: business.oculus.com
Cornerstone was founded with a passion for empowering people through learning and a conviction that people should be your organization’s greatest competitive advantage. Cornerstone is a global human capital management leader with a core belief that companies thrive when they help their employees to realize their potential. Putting this belief into practice, Cornerstone offers solutions to help companies strategically manage and continuously develop their talent throughout the entire employee lifecycle. Featuring comprehensive recruiting, personalized learning, development-driven performance management, and holistic HR planning, Cornerstone’s human capital management platform is successfully used by 3,645 global clients of all sizes, spanning more than 40 million users across 187 countries and 57 languages. Learn more at www.cornerstoneondemand.com.