In other words: this gap analysis helps to determine if post-secondary education output is meeting (or exceeding) the occupation demand needs of a given region or state. Note: this is fundamentally different then what some call an “education gap analysis” which assesses and evaluates the skill gaps of a student or workforce.
On Undersupply: the education institutions are not providing the necessary workforce for the region and thereby shifting the burden on the industries to find workers in other economies to fill the needed occupations. This translates into higher HR costs and decreased efficiencies in the economic system.
Oversupply: depending on the sector, oversupply can be leveraged as a strength of a talent supply pipeline when attempting to recruit new business or expand existing companiesNote: there are other policy options that can be developed from a well executed education supply gap analysis. These are just a couple.
Note: There are several different policy options and applications that can be exercised once a gap analysis is completed. This is not an exhaustive list.
Researching Regional Workforce Gaps
Researching Regional Workforce Gaps<br />An overview and sample of the micro- and macro-level uses of demand-driven talent development <br />
ABOUT EMSI<br />EMSI provides employment data and economic analysis via web tools and customized consulting projects and reports. <br />We’ve produced more than 1,000 comprehensive impact analyses for colleges and universities.<br />Analyst, our labor market research tool, is used by more than 3,500 professionals in higher education, workforce, economic development and the private sector.<br />Career Coach, our career guidance tool, has been implemented by many colleges, universities, and workforce boards to help jobseekers and students.<br />
WHAT IS A REGIONAL EDUCATION SUPPLY GAP ANALYSIS?<br />Education supply gap analyses assess the current postsecondary education talent supply based on education program completion, which is then compared to the demand for occupations that align to postsecondary programs. <br />
WHY USE A REGIONAL EDUCATION SUPPLY GAP ANALYSIS?<br />Supply gap analyses can be used by various stakeholders for different purposes. For example:<br />Community Colleges and Universities may conduct a gap analysis to determine if programs are aligned to community and industry needs<br />Workforce Boards may use gap analyses to evaluate regional talent development across multiple institutions and seek to better align workforce development programs<br />State Departments of Education and/or Labor may use gap analyses for long-term planning, assessment, and targeting of talent development to support specific initiatives<br />
INSIGHTS ON OVERSUPPLY AND UNDERSUPPLY<br />Oversupply (aka Surplus): may lead to higher attrition rates (i.e., brain drain). The region is educating a workforce that is leaving after program completion because of a lack of job opportunities.<br />Undersupply (aka Gap): may lead to missed opportunities for economic growth and put stress on local businesses to find the necessary talent elsewhere. <br />
POTENTIAL POLICY OPTIONS<br />Oversupply: <br />Education institutions can scale back potentially costly programs, due to excess workforce supply;<br />Economic developers and business developers have the opportunity to court businesses employing the types of occupations found in the oversupply of program completers. <br />
POTENTIAL POLICY OPTIONS<br />Undersupply:<br />Education institutions can develop/market programs to increase enrollment in the desired programs/degrees; <br />When working with dislocated workers, workforce boards can target programs that align with “in-demand” occupations.<br />
SAMPLE OUTPUT: NATIONAL ENERGY WORKFORCE<br />
OTHER METHODS<br />Stay tuned!EMSI is experimenting with other ways to measure skill gaps:<br />Growth of jobs and wages over time<br />Growth of KSAs over time<br />Considering job switchers and unemployed workers<br />Potential for shifting low-demand workers into high-demand positions<br />
FOR MORE INFORMATION<br />Please refer to EMSI’s white paper:<br />http://www.economicmodeling.com/2011/06/28/addressing-regional-skill-gaps/<br />
QUESTIONS<br />If you would like further information or assistance in developing your own Education Supply Gap Analysis, please contact:<br />Josh Wright <br />email@example.com<br />