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Coping With Maine’s Talent Crunch?

Coping With Maine’s Talent Crunch?. A regional approach to talent and skills development January 9, 2008 Kennebec Valley Human Resource Association. -Talent Matters-. “There is a “War for Talent” ¹ The critical driver of business performance and a key to competitiveness

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Coping With Maine’s Talent Crunch?

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  1. Coping With Maine’s Talent Crunch? A regional approach to talent and skills development January 9, 2008 Kennebec Valley Human Resource Association

  2. -Talent Matters- • “There is a “War for Talent”¹ • The critical driver of business performance and a key to competitiveness • McKinsey found a direct correlation between managing talent and financial performance ¹ The War for Talent by Michaels, Handfield-Jones and Axelrod (McKInsey Research 1997, 2001)

  3. -Dealing with the realities- • Over the past decade, talent shortages have become the norm¹ • Two trends: “boomers” retiring and a growing skills gap • The U.S. labor pool will experience a shortfall of 10 million workers by 2010.² • Much of this is due to demographic factors ¹According to Manpower’s Talent Shortage Survey, for 2007, four out of ten businesses report difficulties in filling key positions ²U.S. Bureau of Labor Statistics

  4. -Disconnect between education and business- • “Hard skill” disciplines in math and science are in decline • 60 percent of all new jobs in the 21st century will require the skills possessed by only 20 percent of our current workforce¹ ¹Deloitte Development, LLC 2004

  5. -The HR role has changed dramatically-

  6. -What is your talent management strategy?-

  7. -If you don’t have talent/options?- • Board up windows and close our doors/shut down operations • Move operations elsewhere (off shoring) or • Adapt to changes and experience growth and success

  8. -Meeting the challenge head-on- • Under-utilized pockets of talent/labor --low-wage/low-skilled (working poor) --those not working (ASPIRE, TANF, GA) --16 to 24-year-old out-of-school youth --seasoned workers • This requires a strategic plan

  9. -The Role of the LWIB- • Targeted, regional approach • Facilitate key partnerships with business • Leveraging local resources • Develop key initiatives that meet the talent needs of the private sector

  10. -Examples in Central/Western Maine- • WorkReady --Unique pilot in Augusta (16 to 24-year-olds) • Next Steps Training • Seasoned Worker Forums (Androscoggin County) • Region-specific training --Welding/Cianbro (Franklin County)

  11. -WorkReady: A local initiative that really works- • A portable credential • Imparts necessary “soft skills” to participants • Developed in partnership with business leaders and others • Forward-thinking approach to training

  12. -WorkReady: Building a model for success- • Five programs in Lewiston/Auburn • Now a statewide initiative under the umbrella of DOE/State Adult Ed.

  13. -What are “soft skills”- • Showing up as scheduled, ready to work • Basic communication skills • Able to use computer • Teamwork • Managing conflict • Able to take directions

  14. -WorkReady builds the “foundation”- • Sets stage for and complements industry-specific training and certifications • Maine Quality Centers (CMCC, KVCC, etc.) are examples of industry-specific training after WorkReady • Other employer-specific types of training (apprenticeships, OJT’s)

  15. -HR plays a key role in developing the talent/skills for Maine’s future- • “Business as usual” will no longer work • We need to find ways to adapt • The state needs to do a better job of coordinating workforce and economic development • Coordinate training with jobs for the future • We need to find a way to bring together business and education

  16. -Additional Resources- • LWIB http://www.mainefocus.org/ • Partnership for 21st Century Skills http://www.21stcenturyskills.org/ • WorkReady Credential http://www.workreadyforme.com/

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