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The future of the workforce is being driven by technology. The impact of technology, responses of the workforce to technology and needed responses by government to these changes in the workforce are discussed in this presentation. This presentation was given to the International Economic Development Leadership Summiit on January 29th, 2013 as part of a panel on "The Evolving Nature of Today's Workforce"
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The Future of the Workforce
Colleen LaRoseNorth East Regional
Employment and Training Association
Situation, Task, Action, Response
Situation Value of the workforce“New economy” market adaptations
TaskSystem responses needed
ActionAdopting new roles and responsibilities
ResponseEvaluate and share!
Collaboration is the Key!
Workforce Quality is now the #1 Reason for Business Investments
Workforce quality is the number one reason that businesses now choose their location…surpassing tax incentives, low cost of business, transportation, and even quality of life!
How much is the Workforce Worth?
$ Total cash in the world is about 45 T $ Total assets in the world about 500T(not including human capital)
$ Net US wealth – + = 58T
+ +
= 118T
US debt is over 16T (rising at about 1 million per minute) – ¼ of all US physical assets.
The real wealth of nations, The Economist, June 30, 2012
What is “A Quality Workforce?”
Education - average years of schooling
Skills - the wage workers can command
Health - number of years of expected work before employees retire/die Engagement – company’s success/drives performance
Only 9% of employees are engaged when no focus on strengths Engagement soars 73% when focus on the strengths
Strengths based Leadership – Rath and Conchie
The “New” Economy
Communities of the Future –Rick Smyre
Three economies converging…
Industrial, Knowledge, Creative Molecular
What is Creative Molecular? Demonstrates biological/organic principles
Free flowing networks and ecosystemsAdaptable, open structuresMore people involved
Not rigid physics industrial economy principles
Not Enough Jobs!
Only 3.5 million jobs now available in US 12 million people actively on unemployment
at least another 10 million “invisible” unemployed
Who are we training and for what? What will human capital needs look like next year? Five years from now?
Where are the jobs???
1. Technology as a game changer
2. Innovation, foresight and entrepreneurship driven
3. Building of networks and connecting as needed - Global and ‘Flattened’ connections through social media - and co-op - not hierarchical
4. Organic financing
5. Talent – “Just in time”/temporary, skills/strengths based
How is the Workforce Evolving?
TIBOT
Change is the new way of lifeLeveling of the playing field - more egalitarianMore independence Higher expectations More adaptable, more virtualMore efficient and effectiveMore currentMore collaboration –Less silosMore transparencyNeed for more STEM workersLess need for laborKnowledge less valuedLess trainingFEWER JOBS!
Technology as a Game Changer!
Rise of the machines (technology, robots, self-checkout, etc)
Innovation, Foresight and Entrepreneurship Driven
InnovationAdapting quicklyInnovation is driving wealthNeed “Creative Confidence” – help recognizing new opportunities, align with education
Foresight“Future Focus”More social consciousness Need Succession/transfer knowledge planning (teacher mentoring, ojt, apprenticeship/internship)
EntrepreneurshipGrowth of entrepreneurship (esp women)Less “safety nets” - more fearNeed support for independent contractors, entrepreneurship and small business
Building of Networks and Connecting as Needed Global and ‘Flattened’ Connections Through Social Media
Social Media Listening/building relationships
Accelerated communication Efficient, transparent, business insights
More Inclusive (more people, more ideas)No time constraintsGreater collaboration
GlobalGlobal communications capacity More global workGlocal Opportunities to be local, globally
FlattenedBreaking through gatekeepers Direct to source
More egalitarian Co-op – Not Hierarchical
Organic Financing
Accessing capital in new ways that embrace the changing economy
Crowd funding DPO’s Microloans Local economies New Union opportunities?
Talent
Job Shortage? Or Jobs Shortened? “Gigging” “Just in Time”/Temporary”
(1099 employees - new entrepreneurs – “TEMPFOLIO”)Less company loyalty, less expectation of long term employment Some employers illegally avoid paying wage taxes by hiring “temps”.Not everyone is entrepreneurial No health ins, ui, tuition, 401K, no dependable income (less likely to make large purchases)Less incumbent worker training
Skills Gap? Skills and Strengths-based (autonomy, mastery, purpose) Talent “pipeline” – need supply chain mentality - align with education Selling discrete skills – not whole package (soft skills as important?) Fewer employees – need broader skill set Growth in distance/independent learning (Khan Academy) Community Colleges - larger role in business support/short-term training More independent and socially conscious – use strengths in new ways
Applying What We Now Know to Who We Are….
T - Technology is the game changer
I - Innovation, foresight, entrepreneurship
B - Building of Networks – Social, Global and Flattened
O - Organic Financing
T- Talent
How do these trends impact on public policy and public administration?
Comparison
Workforce Development
1. Job Development (who has jobs?)2. Collaborative3. Federally funded (with rules)4. Attempts to be a system5. Employer services related to acquiring
employees (job postings, screening, OJT, etc)
6. Jobseeker services (Eligibility/Resumes)7, Coordination of education providers8. Youth Support9. Coordination of social services supports 10. Holistic support system
Economic Development1. Job Creation (work w/ business to make
jobs)2. Compete locally/regionally 3. Locally and state funded (few, if any rules)4. Not a system5. Business recruitment/retention services
such as Tax Incentives, Location Hunting6. Infrastructure/transportation support7. Business development support8. Community Development support9. Bottom-Line $$$10. Quality of Life (eg. Parks)
Business Government
Economic Development
Education
Workforce Development
AS IS Could Be
Business Economic Development
Workforce Development
Government
Education
Solutions – Adapting to the New Economy
Collaborating Does Work!
Examples:
Joint CEDS Planning - Arlington/Alexandria, VA – Across State Lines! – Oh Penn
WIB’s as economic development decision-makers- Eastern Maine
Opportunities:
CEDS, WIRED, Cluster Studies, Sector Studies
Can Economic Development and Workforce Development Align?
1) Local economic/workforce. SWOT2) Impact of broader regional economy.3) Ed and wd vision and goals. Goal attainment.4) Policies? Regulatory environment.5) Ed and wd communications? – Stakeholders/partner communications.6) Needs of your local business community.7) Support start-ups, growth and expansion of local businesses.8) Ed and wd pr/messaging.
Inspired by a report from National League of Cities and IEDC:
The Role of Local Elected Officials in Economic Development. 10 things you should know.
Effectiveness in Achieving Local Goals
Synchronist Business Information Systems – Eric Canada Addresses employer needs Aligns workforce development and economic development Satisfaction with the community?
Value to the community?
ROI? Growth potential? Risk of leaving/downsizing?
What’s the problem?How can we help?
High Growth and High ValueOften at greatest riskProblems usually around workforceHigh ROI
V A L U E
G
R
O
W
T
H
Which Businesses Need and Deserve Help?
High Value, Low GrowthLow Value, Low Growth
High Growth, Low Value
Plot companies, using data in meaningful ways.
Startups
Retraining for other opportunities
Examples: Mold makers, Insurance Industry
Improved Systems Communication Using Online Technologies
Fix #1 - Local online forums• Collaborate on training and funding (grants coordination)• Share best practices and advocacy efforts• Stay current on news/legislation and employer needs• Easier employer partnering with system partners (community colleges, K-12, One Stop Career Centers, etc) • Easier communications makes it more attractive for companies looking to locate in that region (National branding of One Stops)
Improved Systems Communication Using Online Technologies (cont.)
Fix #2 - Customer Resource Management Tool (crm)
Jobseekers getting “matched “ with education and employment opportunities
Employer outreach (ED, BSR) Evaluate workforce needs
Information shared in database with workforce staff (case mgrs, wib, etc)
Strategic decisions made to fulfill employer’s needs
Jobseekers trained to address employer’s needs
Start
Trainees placed in jobs
A Day in the Life of a WIB Director
State WIB
Local WIB
Employers
Job seekers
Partners
State DOL
Please fix these issues!Low Literacy LevelsMental HealthLaziness/poor work ethicComputer illiteracyYouth employment needsOlder worker employment needsVeterans employment needsOffender employment needsPerson’s w/disabilities employment needsEverybody else’s employment needsTransportation /child care needsArticulation between schools
We will have more for you to fix tomorrow.
Staff/Contractors
Help!
DEAR WIB DIRECTOR:
More Goal Setting Challenges
WIB Federal constraints Dynamic Environment Forecasting is an inexact science Conflicting priorities (Globalization/Buy American) Economic Gardening vs. Recruitment Infrastructure support/growth vs. tax base (new schools, new neighborhoods, more traffic, etc) Business vs. environmental/quality of life Business profits vs. sustainable wages and humanity25% of jobs in the US pay below the poverty line(less than $23,000 yr for family of 4)
50% of the jobs in the US pay less than $34,000 a yearFrom Economic Policy Institute
Who “Creates” Jobs?
Is there a role for workforce development in JOB CREATION? New paradigm of “work?” Seeding/training entrepreneurs? Helping companies recognize expansion opportunities? Providing HR support/onboarding? Providing workforce management? (change management, org. dev., team training, etc.) Liaison to economic development and funders?
What does job creation mean? Entrepreneurship? Innovation? Start-ups? Collateral growth? Growing companies? Importing companies?
Who is responsible? Economic development? Politicians? Business? Education?
Role of Government for Job Creation
Traditional:Funding for infrastructure Policy incentives for job creation, Tax relief to small businessesBusiness recruitment and support. Government provides clear expectations (fair, consistent rules enforced for all) Targeted funding initiatives to create current/real job skills development training programsModern:Review of laws that may be thwarting growth“With” the public…not “for” the public…Start-up resources, services, funding, information (Jobs Act, selling to government)Align economic development with workforce development and educationShare what is working!Investment in riskPublic works program? (communication/ energy)
Private Sector Creates Jobs
Where is the Potential for Job Creation?
75% of businesses in the US have no employees….
52% of all small businesses are home based
Small business employs half of all private sector employees
Stage 2 businesses (10-99 employees) are the major employers! Small business created 90% of all new jobs.
Glocalism
in Business Growth and Talent ManagementOpportunities to Provide Support
Liaison to Other Resources New financing models (crowd funding, direct public offerings, micro-loans) SBDC, SCORE, Incubators, Accelerators, Co-op shops, Maker shops
Intellectual Capital Workforce Management tools Management Analysis Opportunity Identification, Value Innovation, Overcome Challenges Ongoing Support/Mentoring
Employing modern methodologies/technologies Online Research and Marketing Cyber security
Green Technologies Economic gardening
Benefits of an Evolved Workforce
Teams all working at strengths Time of great change/great opportunity New avenues of service and engagement Collective vision for potential
Next Steps
1. Help your local WIB Director prioritize job creation strategies – a) Joint CEDS planning with WIB Directorb) Joint industry sector and industry cluster studiesc) Support for entrepreneurs? Company expansion opportunities?
(HR support, workforce management)
2) Establish a shared customer resource management tool (crm)
3) Establish a local online forum for educators, ed, wd and employers
4) Strategize how to help “independent contractors, entrepreneurs and small business a) co-op spaceb) crowdfundingc) support – (economic gardening, mentoring, resources)
5) Evaluate and share! Join NERETA on Linked In! (Linkd.in/neretaorg)
The Big Take-Away…
"Collaboration is the stuff of growth" -Anonymous
Situation, Task, Action, Response
Now that you know the situation and the tasks needed…
What specific actions will you take? What response do you anticipate locally? Will you share your challenges/successes globally?
Contact
Colleen LaRose
President and CEO
North East Regional Employment and Training Association
P: (908) 995-7718
W: www.nereta.org
Twitter: @neretaorg
LinkedIn Group: Linkd.in/neretaorg
