Talent Crunch Blog

Amazon announced its choices for the coveted HQ2 locations more than two months ago, and the decision continues to elicit commentary nationwide. Of course, given everything at stake—Amazon says it will invest $5 billion and create more than 50,000 new jobs across the two locations—it’s no surprise that the decision continues to be a topic of discussion.

Amazon CEO Jeff Bezos attributed his company’s decision to open its additional headquarters in Northern Virginia and New York City to the supply of “world-class talent” in both areas. Framed that way, it’s easy to see how leaders in other communities—not just those that were in the running for HQ2, but also those that have future aspirations to invite such economic development to their regions—could come away from Amazon’s decision second-guessing their own talent pipelines.

If economic heavyweights like Chicago, Atlanta and Dallas failed to win over Amazon, how are other communities to compete?

Underemployment is commonly thought of as a short-term issue for recent college graduates who, after gaining some experience in a position they’re overqualified for, soon move on to careers befitting their qualifications. Unfortunately, underemployment can be a far more harmful, longer-lasting issue than is commonly recognized. 

Since February, CAEL has been a consultant on a project to develop and implement a strategy to encourage positive economic and job growth in northeast Florida, and to enhance the region’s brand. This initiative, Elevate Northeast Florida, is aimed at reaching the following regional goals:

• Economic growth: Elevate Northeast Florida will lead to increased economic growth in the region by identifying and capitalizing on regional and county-specific assets.
• Talent development: Elevate Northeast Florida will lead to a more competitive talent pool and increased employment by connecting residents to jobs, especially in target industries.
• Brand recognition: Elevate Northeast Florida will result in a marketing and branding campaign that raises awareness of the region’s assets to U.S. and international audiences.
• Global competitiveness: Elevate Northeast Florida will lead to enhanced global competitiveness by focusing on strategic investments across the region.
  Source: ElevateNeFL.com

We recently spoke with JAXUSA Partnership’s Vice President of Education and Workforce Development, Tina Wirth, about the initiative and how JAXUSA has worked to bolster economic development throughout northeast Florida.

CAEL has been working with Philadelphia Works to develop a prior learning assessment (PLA) strategy with partner the Community College of Philadelphia. PLA, which encourages student completion toward a degree or credential by granting credit for demonstrated college-level knowledge or skills, can be an effective tool for upskilling a workforce. CAEL recently spoke with Sue Hoffman, Senior Associate of Innovation at Philadelphia Works, to learn more about how this project will help Philadelphia’s workforce. 

A new report offers insight into the rapidly evolving employee expectations of how a career should be defined and what it should offer. The eye-opening insights can inform a deeper conversation on how employers can foster a workplace environment that encourages employee satisfaction and engagement–a conversation CAEL has been leading with the career pathing solution PathSavvy and advising resource CareerSavvy. 

With the theme “Going Global,” the International Economic Development Council (IEDC) held its 2017 gathering in Toronto. As we consider how economic development trends impact any given local or regional workforce, globalization is an idea that sparks fears of offshoring, downward pressure on wages and changes to labor markets that can leave many unconnected to that global economy and the prosperity that it makes available to some.

As communities work to differentiate themselves in a competitive global economy, alignment between economic and workforce development is essential. Successful communities, urban or rural, large or small, are proactively building this workforce alignment through a coordinated, systematic approach that helps to drive economic growth.

According to a report by Deloitte and The Manufacturing Institute, there will be two million manufacturing jobs that will have to be filled over the next decade, contrary to incorrect assumptions that manufacturing is dead. Owing to the looming skills gap between workplace needs and the existing available talent, the report suggests that an average U.S. manufacturer could stand to lose an average of $14,000 per open position that remains unfilled.

If you were to ask 100 organizational leaders about what stands in their way of implementing a new talent management strategy like career pathing, you might get 100 unique answers. But as diverse as the responses you receive may be, most of them can be summed up with one area of concern: Uncertainty about sufficient cultural support within the organization to ensure success of the new strategy.

As communities work to differentiate themselves in an increasingly competitive global economy, the need for alignment between economic and workforce development has never been more important. Today, successful communities of all sizes, urban and rural, are building this workforce alignment proactively and through a coordinated, systematic approach that helps to drive economic growth.