The Future of the Workforce              Colleen LaRose              North East Regional              Employment and Train...
Situation, Task, Action, Response   Situation       Value of the workforce       “New economy” market adaptations   Task...
Workforce Quality is now the#1 Reason for Business Investments Workforce quality is the number one reason that businesses ...
How much is the Workforce Worth?$ Total cash in the world is about 45 T$ Total assets in the world about 500T(not includin...
What is “A Quality Workforce?” Education - average years of schooling Skills - the wage workers can command Health - nu...
The “New” EconomyCommunities of the Future –Rick Smyre   Three economies converging…    Industrial, Knowledge, Creative M...
Not Enough Jobs!                        Only 3.5 million jobs now available in US                       12 million people ...
How is the Workforce Evolving?     TIBOT1.   Technology as a game changer2.   Innovation, foresight and entrepreneurship d...
Technology as a Game Changer!                       Change is the new way of lifeRise of the            Leveling of the pl...
Innovation, Foresight and     Entrepreneurship DrivenInnovationAdapting quicklyInnovation is driving wealthNeed “Creative ...
Building of Networks and Connecting as NeededGlobal and ‘Flattened’ Connections Through Social Media                      ...
Organic FinancingAccessing capital in new ways that embrace the changing economy   Crowd funding   DPO’s   Microloans ...
TalentJob Shortage? Or Jobs Shortened?    “Gigging” “Just in Time”/Temporary”     (1099 employees - new entrepreneurs – “T...
Applying What We Now Know   to Who We Are….T - Technology is the game changerI - Innovation, foresight, entrepreneurshipB ...
ComparisonWorkforce Development                         Economic Development1. Job Development (who has jobs?)            ...
Solutions –Adapting to the New Economy             AS IS                               Could Be            Economic       ...
Collaborating Does Work!Examples:Joint CEDS Planning - Arlington/Alexandria, VA –Across State Lines! – Oh PennWIB’s as eco...
Can Economic Development and Workforce Development Align?1)   Local economic/workforce. SWOT2)   Impact of broader regiona...
Effectiveness in Achieving Local GoalsSynchronist Business Information Systems – Eric Canada   Addresses employer needs ...
Which Businesses Need and Deserve Help?Plot companies, using data in meaningful ways.    High Growth, Low Value      High ...
Improved Systems Communication Using    Online TechnologiesFix #1 - Local online forums•   Collaborate on training and fun...
Improved Systems Communication Using  Online Technologies (cont.)Fix #2 - Customer Resource Management Tool    (crm)      ...
A Day in the Life of a WIB DirectorDEAR WIB DIRECTOR:              Please fix these issues!                               ...
More Goal Setting Challenges            WIB Federal constraints            Dynamic Environment            Forecasting i...
Who “Creates” Jobs?    What does job creation mean? Entrepreneurship? Innovation? Start-ups?    Collateral growth? Growin...
Role of Government forJob CreationPrivate Sector Creates JobsTraditional:Funding for infrastructurePolicy incentives for j...
Where is the Potential for Job Creation?  75% of businesses in the US have no employees….  52% of all small businesses are...
Opportunities to Provide Support                  in Business Growth and Talent Management     Liaison to Other Resources...
Benefits of an Evolved Workforce Teams all working at strengths Time of great change/great opportunity New avenues of s...
Next Steps1.   Help your local WIB Director prioritize job creation strategies –     a) Joint CEDS planning with WIB Direc...
The Big Take-Away…"Collaboration is the stuff of growth"                            -Anonymous
Situation, Task, Action, ResponseNow that you know the situation and the tasks needed…   What specific actions will you t...
ContactColleen LaRosePresident and CEONorth East Regional Employment and Training AssociationP: (908) 995-7718E: Colleen@n...
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The Future of the Workforce

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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

  1. 1. The Future of the Workforce Colleen LaRose North East Regional Employment and Training Association
  2. 2. Situation, Task, Action, Response Situation Value of the workforce “New economy” market adaptations Task System responses needed Action Adopting new roles and responsibilities Response Evaluate and share! Collaboration is the Key!
  3. 3. 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!
  4. 4. 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 US debt is over 16T (rising at about 1 million per minute) – ¼ of all US physical assets. + + = 118TThe real wealth of nations, The Economist, June 30, 2012
  5. 5. 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
  6. 6. The “New” EconomyCommunities of the Future –Rick Smyre Three economies converging… Industrial, Knowledge, Creative Molecular What is Creative Molecular? Demonstrates biological/organic principles Free flowing networks and ecosystems Adaptable, open structures More people involved Not rigid physics industrial economy principles
  7. 7. 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 Where are the jobs???Who are we training and for what?What will human capital needs look like next year?Five years from now?
  8. 8. How is the Workforce Evolving? TIBOT1. Technology as a game changer2. Innovation, foresight and entrepreneurship driven3. Building of networks and connecting as needed - Global and ‘Flattened’ connections through social media - and co-op - not hierarchical4. Organic financing5. Talent – “Just in time”/temporary, skills/strengths based
  9. 9. Technology as a Game Changer! Change is the new way of lifeRise of the Leveling of the playing field - more egalitarianmachines More independence(technology, robots, Higher expectationsself-checkout, etc) More adaptable, more virtual More efficient and effective More current More collaboration –Less silos More transparency Need for more STEM workers Less need for labor Knowledge less valued Less training FEWER JOBS!
  10. 10. Innovation, Foresight and Entrepreneurship DrivenInnovationAdapting quicklyInnovation is driving wealthNeed “Creative Confidence” – help recognizing new opportunities, align with educationForesight“Future Focus”More social consciousnessNeed 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
  11. 11. Building of Networks and Connecting as NeededGlobal 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 constraints Greater collaborationGlobal Global communications capacity More global work Glocal Opportunities to be local, globallyFlattened Breaking through gatekeepers Direct to source More egalitarian Co-op – Not Hierarchical
  12. 12. Organic FinancingAccessing capital in new ways that embrace the changing economy Crowd funding DPO’s Microloans Local economies New Union opportunities?
  13. 13. TalentJob 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 trainingSkills 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
  14. 14. Applying What We Now Know to Who We Are….T - Technology is the game changerI - Innovation, foresight, entrepreneurshipB - Building of Networks – Social, Global and FlattenedO- Organic FinancingT- TalentHow do these trends impact on public policy andpublic administration?
  15. 15. ComparisonWorkforce Development Economic Development1. Job Development (who has jobs?) 1. Job Creation (work w/ business to make jobs)2. Collaborative 2. Compete locally/regionally3. Federally funded (with rules) 3. Locally and state funded (few, if any rules)4. Attempts to be a system 4. Not a system5. Employer services related to acquiring 5. Business recruitment/retention services employees (job postings, such as Tax Incentives, Location Hunting screening, OJT, etc) 6. Infrastructure/transportation support6. Jobseeker services (Eligibility/Resumes) 7. Business development support7, Coordination of education providers 8. Community Development support8. Youth Support 9. Bottom-Line $$$9. Coordination of social services supports 10. Quality of Life (eg. Parks)10. Holistic support system
  16. 16. Solutions –Adapting to the New Economy AS IS Could Be Economic DevelopmentBusiness Government Business Economic Government Development Workforce Workforce Development Development Education Education
  17. 17. Collaborating Does Work!Examples:Joint CEDS Planning - Arlington/Alexandria, VA –Across State Lines! – Oh PennWIB’s as economic development decision-makers- Eastern MaineOpportunities:CEDS, WIRED, Cluster Studies, Sector Studies
  18. 18. 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.
  19. 19. Effectiveness in Achieving Local GoalsSynchronist 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?
  20. 20. Which Businesses Need and Deserve Help?Plot companies, using data in meaningful ways. High Growth, Low Value High Growth and High ValueG Often at greatest risk Startups Problems usually around workforceR High ROIOW Low Value, Low Growth High Value, Low GrowthT Retraining for other Examples: Mold makers,H opportunities Insurance Industry V A L U E
  21. 21. Improved Systems Communication Using Online TechnologiesFix #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)
  22. 22. Improved Systems Communication Using Online Technologies (cont.)Fix #2 - Customer Resource Management Tool (crm) Jobseekers getting “matched “ with education and employment opportunities Information shared in database with Strategic decisions made to fulfill workforce staff (case mgrs, wib, etc) employer’s needs Start Employer outreach (ED, BSR) Jobseekers trained to address Evaluate workforce needs employer’s needs Trainees placed in jobs
  23. 23. A Day in the Life of a WIB DirectorDEAR WIB DIRECTOR: Please fix these issues! Low Literacy Levels Employers Mental Health Help! Laziness/poor work ethic State WIB Computer illiteracy Youth employment needs Local WIB Older worker employment needs Veterans employment needs Offender employment needsState DOL Person’s w/disabilities employment needs Everybody else’s employment needs Transportation /child care needs Job seekers Articulation between schools Staff/Contractors Partners We will have more for you to fix tomorrow.
  24. 24. 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 humanity 25% 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 year From Economic Policy Institute
  25. 25. Who “Creates” Jobs? What does job creation mean? Entrepreneurship? Innovation? Start-ups? Collateral growth? Growing companies? Importing companies? Who is responsible?Economic development? Politicians? Business? Education? 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?
  26. 26. Role of Government forJob CreationPrivate Sector Creates JobsTraditional:Funding for infrastructurePolicy 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 trainingprogramsModern: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)
  27. 27. 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 majoremployers! Small business created 90% of all new jobs. Glocalism
  28. 28. Opportunities to Provide Support in Business Growth and Talent Management 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
  29. 29. 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
  30. 30. Next Steps1. Help your local WIB Director prioritize job creation strategies – a) Joint CEDS planning with WIB Director b) Joint industry sector and industry cluster studies c) 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 employers4) Strategize how to help “independent contractors, entrepreneurs and small business a) co-op space b) crowdfunding c) support – (economic gardening, mentoring, resources)5) Evaluate and share! Join NERETA on Linked In! (Linkd.in/neretaorg)
  31. 31. The Big Take-Away…"Collaboration is the stuff of growth" -Anonymous
  32. 32. Situation, Task, Action, ResponseNow 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?
  33. 33. ContactColleen LaRosePresident and CEONorth East Regional Employment and Training AssociationP: (908) 995-7718E: Colleen@nereta.orgW: www.nereta.orgTwitter: @neretaorgLinkedIn Group: Linkd.in/neretaorg
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