Workforce development may not be enough
By: Jim
Walton
CEO
It’s
New Year ’s Day, and as I sit alone in the early morning darkness, I can’t help
but think about my many blessings. I’m also reminded of our military personnel
who are away from their families during the holidays. They risk everything and
we have so much.
Our
nation faces many challenges. Foes from faraway places would like nothing more
than to see this great nation stumble and fall. Fortunately, the energy and resilience
of the American people, with our many liberties, are more influential than any
opponent. Through the rugged determination and down-right stubbornness of
company leaders and workers across this great nation, our economy is once again
rising and generating jobs and prosperity for our people.
Who
would have thought, two years ago, that we would be facing a skilled workforce
shortage in 2015? Some call it a crisis, but current and prospective employers
are shifting their gaze more toward the availability of workforce than just
about any location qualifier.
As the
economic recovery gathers momentum, some communities face a new challenge, a
serious shortage of the most demanded skills. Some argue that there may not
really be a shortage, that the real barrier to a qualified workforce may be the
willingness of employers to pay higher wages. That’s nothing new, though. Basic
capitalistic principles dictate that supply and demand will force wage
adjustments.
The
threshold, it appears, is at the 5% unemployment rate. Considering the
widely-held belief that 4% of the traditional workforce doesn’t want to work,
the remaining 1% leaves many communities unable to meet basic employer needs.
If your community unemployment rate is near 5%, you may be “at or near capacity.”
A race to educate
As I
travel the country, meeting with economic developers, community leaders, and
educators, I’ve seen a rapid expansion in workforce development and training
programs. Beginning in middle schools and high schools, and continuing in higher
education facilities, educators are racing to train welders, CNC operators,
warehouse workers, healthcare professionals, and others. Sadly, a few schools
are still focusing on low-demand skills that were taught in the past, doing a
significant disservice to students and the community. The more successful
community colleges and other higher education institutions are those focused on
skills demanded by existing and targeted industries.
Workforce attraction may be required
There
are times, amazingly, when communities must launch a strategic campaign to
attract the skilled workers needed to meet employer needs. We’ve seen a huge
jump in such requests at the Brand Acceleration offices. Our approach is to
clearly identify needs, along with area growth trends, and then craft a
campaign to locate and communicate with prospective employees and residents. Since
this is an area where precious resources could be wasted, we often partner with
professionals who are experts in workforce trends.
One
challenge with a workforce attraction campaign is that it could create an air
of desperation that could be off-putting to target audiences. Our message
strategists manage the delicate balance between employment and lifestyle messaging,
creating an attractive community buzz.
If your
area unemployment rate is nearing 5%, then we should talk. It’s better to
explore activities now than to wait for a crisis situation when you realize
your community cannot meet the basic needs of attrition, an expansion, or
attraction project.
Best
wishes for an amazing 2015,
Jim Walton
CEO
Brand Acceleration, Inc.
Branding // Marketing Communications // Public Relations
Indianapolis, Indiana:
Office: 317.536.6255
Cell: 317.523.7380
Brand Acceleration is a full-service marketing communications, brand management and website development firm with a focus on community and economic development.
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