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

Developmentbpoints@economicmodeling.com208-892-5599

EconomicModeling.com