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News & Press: 2018 Economic Development News

The Battle for Employee Attraction and Retention - SFP Insider

Friday, December 21, 2018  
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Site&Facility PlanningInsider
Seeking and Satisfying a Talented Workforce
According to a new 2018 skills gap study from Deloitte, conducted with The Manufacturing Institute,2.4 million jobs will go unfilled over the next decade, risking $454 billion of economic output in 2028. (A 2015 skills gap study had put that number at 2 million unfilled jobs between 2015 and 2025 so the gap is growing.) According to Forbes, the growing shortfall can be attributed to an education system that produces too few graduates grounded in STEM (science, technology, engineering, mathematics) disciplines.
Realizing the speed of technological change, companies are now recruiting college grads for positions that might not even exist.They’re looking for a candidate’s “transferable skills,”i.e., problem-solving or analytical ability. Companies need “workers who can adapt to ever-changing technology,” says Susan Arledge, President, Site Selection and Analytics, ESRP Real Estate.
Companies are also looking to locate incommunities that will attract tech-savvy workerswho value a strong work-life balance.Millennials are now the largest generation in the U.S. workforce, says a Pew Research analysis, and they are driven to communities that have plentiful amenities.
Furthermore, those companies battling for talent are focusing on the “human experience” in the workplace, which is becoming a driving factor in workplace design and decisions.The “choose-your-own-adventure” workplace is becoming a critical differentiator.

The Value of a Choose-Your-Own-Adventure Workplace

John WoosterJohn Wooster, Vice President, Consulting, JLL

Smart workplaces are flexible and personalized to attract a high-performing, diverse workforce.

Read the whole story...

The War for Talent — A Battle for Employee Attraction and Retention

Susan ArledgeSusan Arledge, President, Site Selection and Analytics, ESRP Real Estate

Employers need to anticipate the competition for employees, increase wages, recruit nationally, and utilize local site selection strategies to attract the desired talent.

Read the whole story...

Millennials Spark Seismic Shift in Site Selection

Gregory BurkartGregory Burkart, Managing Director and City Leader, Site Selection & Incentives Advisory, Duff & Phelps, LLC

Those looking for a location for a new facility are focusing on communities that differentiate themselves through their quality of life, labor force, and cultural fit.

Read the whole story...

Editor's Picks: Workforce of the Future

5 Questions We Should Be Asking About Automation and Jobs - HBR

We simply don’t know for sure whether automation, algorithms, and AI will ultimately create more jobs than they destroy. Opinions are all over the map.More »

The future of work in manufacturing - Deloitte Insights

 

Job rules and the nature of work are changing in what’s called the Fourth Industrial Revolution. We examine what future manufacturing jobs will be like in the digital era.More »

Closing the Skills Gap Could Be as Simple as ABC - strategy+business

 

Alongside educators, businesses need to build a pipeline from the classroom to the workplace so the skills taught today match the skills that’ll be in demand tomorrow. The key is for business leaders to understand how their organizations are going to change so they can proactively consider how to upskill their workforces accordingly. Envisioning this future state will soon be one of the most critical roles of the CEO.More »

The future of work won't be about degrees, it will be about skills - CNBC

 

Rapid technological change, combined with rising education costs, have made our traditional higher-education system an increasingly anachronistic and risky path. The cost of a college education is so high now that we have reached a tipping point at which the debt incurred often isn't outweighed by future earnings potential.More »

Invest in America's Workforce - The Federal Reserve System

 

How can well-structured and effective workforce programs and policies result in better economic outcomes for individuals, businesses, and communities?More »

2018 Manufacturing Skills Gap Study - Deloitte US

 

The Fourth Industrial Revolution is transforming the world of work through artificial intelligence, advanced robotics, automation, analytics, and the Internet of Things. Despite common fears, these technologies are likely to create more jobs than they replace—as illustrated by the tight labor conditions in the US and global manufacturing industry.More »

2018 Talent Attraction Scorecard: The Top Communities Attracting and Developing Talent - Emsi

 

Workforce issues are the highest recurring pain point for businesses in a period of sub-4% unemployment. When it comes to talent, everyone is pulling from the same pool, and competition is increasing. In the third annual Talent Attraction Scorecard, we explore how well small and large counties are attracting and developing skilled workers. Counties are ranked using Emsi’s Talent Attraction Index, which is based on drawing new residents, growing jobs and skilled workers, attracting young talent, and increasing educational attainment.More »

Vocational Training Is Back as Firms Pair With High Schools to Groom Workers - WSJ

 

CVS, Tesla and others help educators create skills-based programs—and future job candidates.More »

Designing a Future for the Untethered Workforce - strategy+business

 

Governments and businesses that are not yet responding are missing enormous opportunities and putting themselves at risk of falling behind.More »

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