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Transcript of Nereta summit presentation emsi
Using Economic Data to Develop Manufacturing Talent
NERETA Conference, April 28, 2016
Presented byBrian Points
Roadmap
1. Framework for Connecting ED, WD and Education
2. The Big Picture
3. Using Emsi to Build your Strategy
Students
Higher EdTalent
Acquisition
Emsi
Focusing on the critical
connection between students, higher ed, and employment
Students
The need to find the right
career, employer, and education path
Employers
The need to find the
right young talent and places where that talent is
Higher Ed
The need to connect
with employers to build the right education and to
enroll, retain, & complete students
Economic & Workforce Development
Remaking Economic Development
Big Picture: Economic & Demographic Issues
• Size of talent pool decreasing (Baby Boomers retiring)
• Rise of the Millennial workforce
• College enrollment increasing
• College cost increasing
• Unemployment rate decreasing at same time job openings are increasing. Why?
Big Picture: HR Issues
• Cost of Labor increasing
• Cost of Acquisition increasing
• Recruiting and hiring processes getting more scientific
• Employers emphasizing diversity in hiring process
• Cost and availability of labor is more important than ever!
The Big Picture: Regulatory Environment
What WIOA Emphasizes: *Growth
*Stability
*Regional Connectivity, Contribution & Impacts
*Good Wages & Advancement Opportunities
*Coordination
*Collaboration
*Communication
*Engagement
Sources: ManpowerGroup, 2015 Talent Shortage Survey; Deloitte University Press, Global Human Capital Trends 2014: Engaging the 21st-century Workforce; K.
Fleming (2013), Success in the New Economy.
Talent Development in the Manufacturing Industry
84%
78%
76%
74%
72%
71%
66%
64%
63%
62%
61%
55%
50% 55% 60% 65% 70% 75% 80% 85% 90%
Leadership
Retention & Engagment
Reskilling the HR Function
Global HR & Talent Management
Workforce Capability
Talent Acquisition & Access
Talent & HR Analytics
Learning & Development
Performance Management
The Overwhelmed Employee
HR Technology
Diversity & Inclusion
Most Urgent HR Issues in the Manufacturing Industry
Sources: Deloitte University Press, Global Human Capital Trends 2014: Engaging the 21st-century Workforce
Talent Issues vs. Internal Issues
84%
78%
76%
74%
72%
71%
66%
64%
63%
62%
61%
55%
50% 55% 60% 65% 70% 75% 80% 85% 90%
Leadership
Retention & Engagment
Reskilling the HR Function
Global HR & Talent Management
Workforce Capability
Talent Acquisition & Access
Talent & HR Analytics
Learning & Development
Performance Management
The Overwhelmed Employee
HR Technology
Diversity & Inclusion
Most Urgent HR Issues in the Manufacturing Industry
Sources: Deloitte University Press, Global Human Capital Trends 2014: Engaging the 21st-century Workforce
2015 Survey of Business Executives
52%: Plan to open new
facility within 4 years
82% Believe Availability of
Labor is important for site selection
Source: Area Development, 29th Annual Survey of Corporate Executives
Characterize Your Economy
Understand Drivers
Identify Industry Assets
Connect withBusinesses
Enhance Talent Pipeline
RecruitComplimentary
Businesses
ImproveCompetitiveness
Characterize Your Economy
Characterize Your Economy
Construction Product Manufacturing
Understand Drivers
Industries in Cluster:
• 324121 Asphalt Paving Mixture and Block Manufacturing
• 324122 Asphalt Shingle and Coating Materials Manufacturing
• 327310 Cement Manufacturing
• 327331 Concrete Block and Brick Manufacturing
• 327332 Concrete Pipe Manufacturing
• 327410 Lime Manufacturing
• 327420 Gypsum Product Manufacturing
• 327991 Cut Stone and Stone Product Manufacturing
• 327993 Mineral Wool Manufacturing
• 327999 All Other Miscellaneous Nonmetallic Mineral Product Manufacturing
• 332410 Power Boiler and Heat Exchanger Manufacturing
• 332420 Metal Tank (Heavy Gauge) Manufacturing
• 332913 Plumbing Fixture Fitting and Trim Manufacturing
• 332996 Fabricated Pipe and Pipe Fitting Manufacturing
Understand Drivers
Hunterdon County is one of 471 Counties in the Nation that is highly competitive in the Insurance Services Industry.
#47 in terms of net job growth since start of 21st century
Identify Industry Assets
Connect with Businesses
Connect with Businesses
Enhance Talent Pipeline
Enhance Talent Pipeline
Enhance Talent Pipeline
Recruit Complimentary Businesses
Recruit Complimentary Businesses
Insurance Services in Hunterdon County
Understand Drivers
Industries in Cluster:
• 524126: Direct Property and Casualty Insurance Carriers
• 524130: Reinsurance Carriers
• 52429: Claims Adjusting
Understand Drivers
Hunterdon County is one of 129 Counties in the Nation that is highly competitive in the Insurance Services Industry.
#30 in terms of net job growth since start of 21st century
Identify Industry Assets
Connect with Businesses
Connect with Businesses
Enhance Talent Pipeline
Enhance Talent Pipeline
Enhance Talent Pipeline
Recruit Complimentary Businesses
Recruit Complimentary Businesses
Improve Competitiveness
• Hone the marketing message
• Get everyone on the same page
Best Practices
Select Industries Based on:
1. High Demand
2. Concentration (i.e.: Location Quotient)
3. Jobs Multiplier
4. High Wages
DDC: Industry Analysis
DDC: Workforce Analysis
DDC: Retention & Expansion Scorecard
Find Your Calling
Emsi Annual ConferenceOctober 17-20 in Coeur d'Alene Idaho
Thank You
Brian PointsSenior Consultant, Economic & Workforce
EconomicModeling.com