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The Talent Trapeze: Connecting Business and Human Capital

Address regional human capital challenges through internships. Enhance workforce diversity, cut turnover costs, and foster top talent development. Discover effective internship strategies and resources. Ensure sustainable talent acquisition and retention for economic growth.

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The Talent Trapeze: Connecting Business and Human Capital

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  1. The Talent Trapeze: Connecting Business and Human Capital

  2. Regional Challenges • Demographic divide – We’re not getting any younger. • Changing world of work – Are our methods of exploring and developing careers keeping pace? • Human capital investments needed – Our economy will not grow without it.

  3. Our Working Age Population has Shrunk 1990: 1,986,000 18-64 year olds 2,000,000 1,950,000 Loss = 68,000 people 1,900,000 1999: 1,918,000 18-64 year olds 1,850,000 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

  4. Many Existing Workers will Soon Leave the Region’s Workforce Year: 2022 Age Breakout of the Regional Workforce

  5. It’s the People! “…the New Economy only grows to the extent it can find highly skilled people, particularly those educated and experienced in the new technologies and business practices.” “Who Will Stay and Who Will Leave” http://www.southern.org/pubs/Migration-2001.pdf

  6. Challenges for Businesses • Finding skilled employees? • Developing talent to keep pace in an evolving marketplace? • Retaining talent that is a good fit with the culture and skills? • Achieving top performance from all employees? • Reducing turnover costs? THE SOLUTION: INTERNSHIPS

  7. Internships…Opportunity to Meet These Challenges • Reduce Recruitment Costs • Pre-screen Potential Talent • Complete Special Projects • Create Workforce Diversity • Introduce Latest Technology & Ideas From the Classroom • Become an “Employer of Choice”

  8. Need a Few More Reasons? • Expandyour organization’s capacity • Create a positive buzz Short Term Commitment… Long Term Potential

  9. Internships & the Talent Connection Internships serve as a continual economic & workforce generator for the region's businesses • Research shows that internships: • Lower costs of screening potential hires • Reduce risks involved with hiring decisions • The Regional Internship Center has found: • 40% of RIC clients offered full-time employment to at least one intern • 90% of interns who were offered full-time employment accepted

  10. Define Internship INTERNSHIP (in’tern·ship’)n.: 1.a temporary, part-time or full-time partnership between an intern and an organization that is providing hands-on training and career awareness 2. practical work experience with an emphasis on experience and knowledge rather than employment

  11. Internships are… “a three-month interview - test driving the corporation from the student’s point of view and vice versa for the corporation”- Brian Rider College Relations Manager PNC Financial Services Group

  12. Where to look for talent… There are 144,000 students attending the region’s 33 post-secondary institutions

  13. Key to Successful Internships • Define the tasks • Specify the knowledge, skills and abilities • Select an intern manager or supervisor • Decide on compensation and “perks” • Interview and choose the best match

  14. Internship Resources Career Literacy for African American Youth (C.L.A.A.Y) - A career mentoring and tutoring program for minority youth to provide career exploration opportunities. Pittsburgh Regional Internship Collaborative Enterprise (PRICE) –A Collaboration offinancial service companies for talent pipeline development. Advanced Manufacturing Career Collaborative (AMC2) – A Collaborative to help define manufacturing career pathways that can lead to rewarding careers. Pittsburgh Communication Connection (C2) –ACollaborative to increase the number of students obtaining jobs in the marketing/PR/ advertising/communications fields.

  15. Internships Made Easy • The Regional Internship Center (RIC) consults with employers on developing internship programs • RIC connects with over 33 post-secondary institutions • RIC hosts an interactive website that acts as an internship clearinghouse: www.ric-swpa.org • RIC conducts research surrounding internships in SWPA

  16. RIC Services • Assistemployers in developing internship programs • Promoteexisting internships • Provide RIC website to post internships & connect with candidates • Linkto regional colleges & universities

  17. “The most valuable aspect of internships is the opportunity to see a potential core staff employee in action. In many cases a student is with us for several semesters before graduation. We can have a first hand view of their work habits and overall fit within our organization. If a full-time opportunity becomes available, we can consider the intern’s potential fit based on their prior work with us.” - Louis P. Stanasolovich, CFP Founder, CEO, & President Legend Financial

  18. 33 Terminal Way, Suite 429A Pittsburgh, PA 15219 (p) 412-258-2688 (f) 412-201-0672 info@ric-swpa.org www.ric-swpa.org

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