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Workforce 2.0 Sharpening the Competitive Edge in Human Capital

Workforce 2.0 Sharpening the Competitive Edge in Human Capital. The Honorable Richard Daley Mayor of Chicago. Pamela Tate President & CEO, CAEL. January 24, 2007. The Challenge for U.S. Cities. How to keep their economies competitive through attracting and retaining companies

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Workforce 2.0 Sharpening the Competitive Edge in Human Capital

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  1. Workforce2.0Sharpening the Competitive Edge in Human Capital The Honorable Richard Daley Mayor of Chicago Pamela Tate President & CEO, CAEL January 24, 2007

  2. The Challenge for U.S. Cities • How to keep their economies competitive through attracting and retaining companies • How to ensure that their workforce is skilled and prepared for both “old economy” and “new economy” jobs • How to motivate business and industry to invest in building the skills of the current workforce

  3. Human Capital: Vital to Our Success • In 1982, tangible assets (balance sheet assets) represented 62% of a US corporation’s value, on average. • By 1992 this figure had dropped to 38%. • More recent studies estimate that the tangible assets of corporations account for as little as 15% of average market value. People are what count Human capital accounts for 85% of a corporation’s value. Source: “The Value of People”, HR Magazine, L. Weatherly

  4. CAEL’s Unique Role • Pioneer learning strategies for adult workers, companies and higher education institutions • Work to expand lifelong learning opportunities through public policy • Expand our signature initiative, WorkforceChicago2.0 How does CAEL help cities tackle the challenges of this knowledge economy? Employers CAEL Government and Community Colleges and Universities

  5. WorkforceChicago2.0 • What is WorkforceChicago2.0: • A collaborative initiative launched by CAEL in 2002, in partnership with HRMAC and World Business Chicago, and with the support of Mayor Richard Daley • Ourmission: • Turn the region into one of the nation’s prime talent pools • Increase employer investment in building the skills of their current employees • What we do: • Benchmark winning employee learning strategies • Recognize leading Chicagoland employers • Share these strategies with other employers

  6. The Business Leadership Group There are 25 members on the Business Leadership Group, with a sample below:

  7. Expanding the 2.0 Initiative • Expansion: • 2004--workforcePhiladelphia2.0 • 2006--workforceStLouis2.0 • Other regions with a strong core group of businesses—2008 and beyond …Creating an intra-regional dialogue on employee learning and development issues that impact both the regional and national economies

  8. Why Launch a Workforce2.0 Model? • Retain regional workforce competitiveness • Position your urban region as a leading talent pool • Become an early adopter of this successful and sustainable model for change

  9. For more information:www.workforcechicago2.org Michelle Sanford, Director msanford@cael.org

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