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News & Press: 2018 Economic Development News

A “Marshall Plan” to Develop and Attract Talent - SFP Insider

Thursday, June 14, 2018  
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Site & Facility Planning Insider


Satisfying 21st Century Workforce Needs

Businesses have been lamenting the shortage of skilled workers for some time now. And with the unemployment rate at 3.9 percent in May — the lowest since the year 2000 — employers are having even more trouble finding skilled workers.

Therefore, as companies decide where to place their next facilities, access to the appropriate labor pool — for current and future needs — is one of the most important drivers to understand. Company execs need to make a demographic analysis of workers in the prospective locations by occupation and skill. They also need to take a long-range view of these locations’ projected population trends and assess whether there are clear plans in place to create and train needed workers. Finally, interviews with like employers will help to uncover “the story” behind the data.

When it comes to training, some locations are taking the bull by the horns. For example, through 2024, it’s projected that Michigan will have more than 800,000 career openings to fill so the state is taking a proactive approach dubbed the “Marshall Plan for Talent.” The plan is investing $100 million over the next five years to develop courses to teach 21st century skills and educate people for in-demand careers as well as other measures. Other states are taken similar steps through lifelong approaches to learning.

And the acute labor shortage is also causing companies to think “outside the box.” They’re looking at nontraditional labor pools, including ex-offenders, recovering addicts, and those with disabilities as potential employees, and many have become loyal and dedicated members of their workforce.


Thinking Outside the Box to Fulfill Workforce Needs

Dan Emerson, Staff Editor, Area Development
Some businesses are looking to nontraditional labor pools — including ex-offenders, recovering addicts, and those with disabilities — as potential employees.

Read the whole story...




A “Marshall Plan” to Develop and Attract Talent

Roger Curtis, Director, Michigan Department of Talent and Economic Development

When businesses are considering where to set up shop or expand existing operations, one of the driving influences behind their decision is access to talent.

Read the whole story...



Increasing the Ranks of Women in Manufacturing

Pamela Kan, President , Bishop-Wisecarver

Through education and mentorship, women will be encouraged to pursue careers in today’s increasingly technological and innovative manufacturing industries.

Read the whole story...




Editor's Picks: Workforce Development

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Over the next decade America’s tight labor market will continue making headlines. The fundamental reason stems from retiring Baby Boomers outpacing the number of younger workers entering the workforce. To help the country’s labor supply better meet demand, keeping the present workforce engaged in work would go a long way. Retaining every cohort matters. But U.S. businesses should put particular focus on retaining older women. More »

Companies Can Address Talent Shortages by Partnering with Educators - HBR

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Tennessee Promise paying off - SSTI

New data analyzing the first cohort of Tennessee Promise students reveals a higher graduation rate and increased number of students earning a college credential when compared to the previous year’s non-Promise cohort. The program was proposed by Gov. Bill Haslam and approved in 2014, a part of the state Drive to 55 initiative, intended to increase the number of Tennesseans with a college degree or credential to 55 percent of the population by 2025. The Promise program was the More »

The Time for Retraining Is Now - MIT Sloan Management Review

Rather than wait to see the answer about whether more jobs will be lost or be gained, we need to act now to enable current employers and employees to gain the skills they are going to need in the brave new world of AI technology. Let’s look at some examples of what is currently being done. More »

States equip employers to drive apprenticeship - Brookings

It is certainly good news that more policymakers are on board with expanding apprenticeship, but since the whole point of apprenticeship is to provide paid, work-based learning experiences, more employers need to get on board as well. After all, they’re the ones with the jobs. More »

How is America preparing for the future of work? - MIT Technology Review

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Workforce of the future - The competing forces shaping 2030 - PwC

We are living through a fundamental transformation in the way we work. Automation and 'thinking machines' are replacing human tasks, changing the skills that organisations are looking for in their people. But what will the future look like? This isn’t a time to sit back and wait for events to unfold. To be prepared for the future, you have to understand it. More »



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