Workforce Development Virginia Small Business Summit October 10, 2014

Overview Va’s Community Colleges The Issue The Challenges The Solutions

The Issue: Hiring Difficulty In Virginia, like the nation at large, businesses of all sizes and across varying industries are having trouble finding talent. Small business owners report… of those hiring, “46% reported few or no qualified applicants for open positions” Source: National Federation of Independent Businesses, June 2014 report “Job openings for STEM positions take longer to fill than openings in other fields. The median duration of advertising for a STEM vacancy is more than twice as long as for a non-STEM vacancy.” Source: Brookings Institution, July 2014 report “Central Virginia CEOs say recruiting and keeping talent is a big concern” Source: Virginia Business citing University of Richmond Report, July 14, 2014

The Issue: Hiring Difficulty Job vacancies became much easier to fill during the recession, but started becoming harder as the economy rebounded. Source: J. Rothwell, July 2014 The Brookings Institution

Info Gap: Accessing high quality regional demand data Interest Gap: Driving interest among workforce supply to areas of regional demand Skills Gap: Creating and making available training that most closely aligns with skills demanded by industry & Increasing credential attainment Affordability Gap: Making training affordable to those who will become the next great Virginia workforce The Challenges

Solutions: High Quality Regional Demand Data Regional, ongoing engagement of business and industry Real-time analysis of job and skill demands Forecasts for future job demand Triangulation of data points Endorsed by Blueprint Virginia

Solutions: Coaching to Align Supply and Demand Uses data on supply, demand, job salaries, and career interests to inform decisions Busts myths about technical training Creates career plans with clear education & training steps to achieving success Provides practical work experience Engages business and parents Endorsed by Blueprint Virginia

Solutions: Aligning Training to Industries’ Needs Builds on data gathered from business and industry Requires ongoing refinement Follows industry standards and supports stackable credentials Uses state-of-the-art equipment Is readily accessible Endorsed by Blueprint Virginia

Solutions: Increase Credential Attainment Credentials are the passport into the skilled economy Leverage business and industry in selecting from 4,000 providers of 700,000 industry certification Build capacity in a successful infrastructure Proposal: Pay only for results that matter Educational Degrees and Certificates: Awarded by a college or university. Requires completion of a credit-bearing program of study. Industry Certifications: Awarded by a certification body. Requires individual to demonstrate, through exam, competency to perform a specific job. Licenses: Awarded by a licensing agency (frequently a state agency). Requires meeting pre-determined criteria that may include some combination of degree attainment, industry certifications, certificates, assessment, apprenticeship programs, or work experience. Endorsed by Blueprint Virginia