Stay Out of the Unserviced Workforce

Defining and assisting the workforce our system has failed.

Stuart Mease

Presenter’s Background

Education sector • Virginia Tech (government relations, career services, regionalism)

Private sector• Recruiter for a technology company

Government sector• City government in economic development (talent, YP)

Practitioner

Community Feedback Shaped this Presentation

The Economic Development Mix

Economic Development Mix

Place ED(Add value to others)

Quality of Life InitiativesTransportation

Partner with other EDO and Local Govt Departments

Traditional ED(Programs)

Business AttractionBusiness RetentionBusiness Expansion

Enterprise ZoneEDA

People ED(Programs and events)

Entrepreneurship ProgramsAttract/Retain Young Adults

Job Seeker AssistanceHigher Ed/K12 Relations

The Economic Development Mixing Bowl

Revenue

Invested

Attracts

and

Retains

Cycle

Repeats

And

Expands

Sustain

and

Create

Traditional

ED

Place

ED

People

ED

Commercial and Residential

Tax BaseNew

Jobs,

Homes,

Co.

www.unservicedworkforce.com

What Happens to the Unserviced Workforce? Likely one of these 7 Scenarios

1. Acquire new skills to move up2. Humble oneself and move down3. Start a business4. Move laterally between jobs in the unserviced workforce5. Remain unemployed6. Move or leave the region7. Retire early, if able

1. Acquire new skills to move up

• Industry sectors in demand (Accounting, IT, Health Care, Trades, etc.)• Must produce more graduates to meet demands (trad. and non-trad. students)• Partner with continuing education programs• Chmura Economics JobsEQ (www.chmuraecon.com)• Big question - are people willing, able and committed to acquiring these skills?

2. Humble oneself and move down

• Underemployed (2 times unemployment rate by some measures) • May have to perform multiple jobs moving forward • Accept lower standard of living• Realization there is a surplus of people with my same skills sets in the market

3. Start a Business

• Does not have to be sole income source. Start small.• Start while still looking for a job, going to school, or working a platform job.• Many programs at all levels to assist.• 87% of Inc 5000 fastest-growing firms were self-funded with a median of $25k.

4. Move laterally between jobs in the unserviced workforce

• Do not make an investment in continuing education• Do not take a risk by starting a business• Continue to think they are better than blue collar jobs• Typically younger, will bounce from job to job and not “get ahead”• When next recession comes they may be extinct

5. Remain unemployed

• Extension of unemployment benefits at the federal level• Work side cash projects + unemployment benefits to make ends meat• Still not humbled or motivated to get out of unserviced workforce• Wait for economy to turnaround• Family/spouse supported

6. Move or leave the region

• Believe “it’s not me” but the place I live that’s the problem• Typically younger, unattached people are more capable of leaving• Forced to leave because of the severity of recession (i.e Detroit)

7. Retire early, if able

• Depends on the nest egg and lifestyle• Will re-enter workforce at later time, perhaps working only part-time• Frustrated by perceived age discrimination in the recruiting process• Focused on years of experience rather than result-based metrics

Feedback/Questions

Contact Info

Stuart MeaseDirector of Undergraduate Career ServicesVirginia Tech Pamplin College of BusinessMobile: 540-641-4444Email: smease@vt.edu / stuartmease@gmail.comTwitter: @stuartmeaseLinkedIn: linkedin.com/in/stuartmeaseBlog: www.stuartmease.com

1. Acquire new skills to move up2. Humble oneself and move down3. Start a business4. Move laterally between jobs in the unserviced workforce5. Remain unemployed6. Move or leave the region7. Retire early, if able

www.unservicedworkforce.com