Tackling the Talent Challenge


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Presented at the Utah Tech@Breakfast by Pat Vaughn and a panel of experts.

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Tackling the Talent Challenge

  1. 1. Investing in Utah’s Future
  2. 2. technology breakfast
  3. 3. Welcome April 28, 2006 ‘ Tackling the Talent Challenge’ technology breakfast
  4. 4. Announcements technology breakfast
  5. 5. Pat Vaughn Talent Access Programs (TAP) Governor’s Office of Economic Development goed.utah.gov technology breakfast
  6. 6. <ul><ul><ul><li>Economic Revitalization Plan </li></ul></ul></ul><ul><ul><ul><li>Revamp Utah’s Tax Structure </li></ul></ul></ul><ul><ul><ul><li>Improve the Competitive Environment for  Small & Medium-Sized Businesses </li></ul></ul></ul><ul><ul><ul><li>Recruit Business to Our State </li></ul></ul></ul><ul><ul><ul><li>Attract More Capital </li></ul></ul></ul><ul><ul><ul><li>Promote Growth In Target Industries </li></ul></ul></ul><ul><ul><ul><li>Capture Global Opportunities for Utah Companies </li></ul></ul></ul><ul><ul><ul><li>Enhance Utah’s National & International    Image </li></ul></ul></ul><ul><ul><ul><li>Promote Tourism </li></ul></ul></ul><ul><ul><ul><li>Energize Economic Development In Rural Communities </li></ul></ul></ul><ul><ul><ul><li>Make State Government More Efficient </li></ul></ul></ul>technology breakfast
  7. 7. Hiring Climate
  8. 8. Hiring Climate
  9. 12. <ul><li>Today’s Hiring Climate </li></ul><ul><li>Panel of professionals </li></ul><ul><li>Look from 10,000 feet </li></ul><ul><li>Hear various aspects </li></ul><ul><li>Gain understanding of the challenges ahead </li></ul>technology breakfast
  10. 13. <ul><li>Panel </li></ul><ul><li>Dr. Tamara Goetz </li></ul><ul><li>David Spann </li></ul><ul><li>Dennis Wood </li></ul><ul><li>Lorina A. Tester </li></ul>technology breakfast
  11. 14. <ul><li>Dr. Tamara Goetz </li></ul>technology breakfast
  12. 15. Utah Life Science Industry Meeting the Workforce Challenges of a Growing Industry
  13. 16. Challenges for Growing the Utah Life Science Industry <ul><li>Meeting workforce demands </li></ul><ul><ul><li>Existing companies </li></ul></ul><ul><ul><li>New start-ups </li></ul></ul><ul><li>Responding to changing needs </li></ul><ul><ul><li>Laboratory technician </li></ul></ul><ul><ul><li>Biomanufacturing technicians </li></ul></ul><ul><li>Creating a diverse workforce </li></ul><ul><ul><li>Multiple entry/exit points </li></ul></ul><ul><ul><li>Dual training </li></ul></ul>
  14. 17. Investing in Utah’s “homegrown” talent
  15. 18. Bridging Education and Workforce Development Academic Training Program Workforce Development InnovaBio <ul><li>2-year Biotechnology degree </li></ul><ul><ul><li>Theoretical </li></ul></ul><ul><ul><li>Technical </li></ul></ul><ul><li>Industry-based research </li></ul><ul><li>Innovation </li></ul><ul><li>Entrepreneurship </li></ul><ul><li>Mutual added value </li></ul><ul><li>Industry demands met </li></ul><ul><li>Competitive students </li></ul>
  16. 19. The Return on Investment <ul><li>Academic program </li></ul><ul><ul><li>42 college graduates </li></ul></ul><ul><ul><li>>600 high school students </li></ul></ul><ul><ul><li>4-year partnerships </li></ul></ul><ul><ul><li>Biomanufacturing track </li></ul></ul><ul><li>InnovaBio </li></ul><ul><ul><li>7 contracts </li></ul></ul><ul><ul><li>50 interns </li></ul></ul><ul><ul><li>Replication </li></ul></ul><ul><ul><li>Student innovation and entrepreneurship </li></ul></ul>
  17. 20. <ul><li>David Spann </li></ul>technology breakfast
  18. 21. Agile Adaptive Management translating innovation into business value, quickly <ul><li>Snowbird 2001: Agile software development begins </li></ul><ul><li>Westminster College 2002: first Agile conference </li></ul><ul><li>MBA Director, consultant to UITA, ULSA, CAM and Executive Coach </li></ul><ul><li>Agile Adaptive Management 2006: helping organizations, executives and teams translate innovation into business value, quickly </li></ul><ul><li>UITA Management Research Project 2004 </li></ul>
  19. 22. 2004 UITA Management Research Project Ability and Effectiveness to Develop, Retain and Attract Management Talent in Utah's Technology Sector (1 is low, while 10 is exceptional; Scores are Median: 1/2 above and 1/2 below) Note: David Spann was with the Ralston Consulting Group when this research project was conducted. 6 8 5 Effectiveness 9 9 9 Importance Attracting Retaining Developing
  20. 23. A Forester’s View of Retention Experience Lasts
  21. 24. <ul><li>Dennis Wood </li></ul>technology breakfast
  22. 25. Tackling the Talent Challenge Presented by Dennis Wood
  23. 26. Venture Capital is Risk Management Deal/ Company Structure Risk Market Risk Technology Risk Management Risk “ The right leadership and ‘gene pool’ is the most important thing to a company’s success. The CEO’s thirst for talent and his (or her) salesmanship in recruiting talent and building teams are key to determining the future of the company.” -Vinod Khosla, KPCB Management Risk
  24. 27. v|Spring Human Capital Strategy Candidate Aggregation <ul><li>Partners, LP’s, Advisors, Portfolio Executives </li></ul><ul><li>Venture Forums, Universities, Tech- </li></ul>vSpring Talent Database transfers, Service Providers, Other VC’s & Companies, etc. Candidate Dissemination vSpring Portfolio & Future Investments CRM Database, Director of HC <ul><li>Firm Initiatives </li></ul>
  25. 31. <ul><li>Lorina A. Tester </li></ul><ul><li>Associate General Counsel </li></ul><ul><li>University of Utah </li></ul><ul><li>International Center </li></ul>technology breakfast
  26. 32. <ul><li>Program Pause </li></ul>technology breakfast
  27. 33. <ul><li>Q & A </li></ul>technology breakfast
  28. 34. <ul><li>THANK YOU! </li></ul><ul><li>www.goed.utah.gov </li></ul>technology breakfast
  29. 35. Investing in Utah’s Future