Workforce Resources for Economic Development

The misalignment between economic development groups, focused on attracting high-wage employers, and workforce boards, which often train for entry-level jobs, leads to persistent skills gaps. Improved collaboration between these entities and employers can bridge this gap by aligning workforce development with local industry needs. This involves upskilling, reskilling and retaining existing employees, while also recruiting new talent to diversify the workforce and bring fresh perspectives.

For those who are chronically unemployed or under-employed, targeted, quick-to-complete certificate programs can facilitate a move into more stable employment and address short-term skills shortages. Effective solutions include better data sharing to guide programs and funding, and stronger employer partnerships to identify critical skills and trends.

Apprenticeship programs are also valuable, particularly in high-demand tech fields. States like Illinois, Georgia, Texas, Arizona and California have made progress in this area. Registered Apprenticeship Programs (RAPs), validated by the U.S. Department of Labor or state agencies, provide paid work experience and industry certifications. DeVry University has a RAP with CompTIA that offers opportunities in cyber security, tech support and data analysis. For example, DeVry University’s RAP with CompTIA offers training in cybersecurity, tech support, and data analysis. By utilizing such resources and fostering collaboration, stakeholders can better prepare the workforce for future demands.

What other workforce resources can employers and state/regional workforce development groups use to strengthen their workforce for the future? 

Tools like Lightcast can provide labor market trends data and analytics to help workforce partners gain a better understand of the industries and occupations driving their regions and the skills and career pathways required to close the gaps. 

States are beginning to use CompTIA’s Tech Jobs Report to gain insights into the IT employment trends at both the occupational and industrial levels. Coinciding with the U.S. Bureau of Labor Statistics’ monthly labor market release, this databank is published on the first Friday of each month. With analysis of historical trending, employer hiring at the state and metropolitan area levels, unemployment rates and employer demand for new tech skills, it can provide valuable insights to help identify the most prominent skills gaps for targeting training and upskilling programs. 

If we are to build a more resilient workforce, it has to be one that is more diverse. For example, why not build pathways for more women, who have been grossly underrepresented in tech occupations, to explore fields like information security, software development or other tech specialties?  Initiatives like DeVry University’s Women + Tech and Future Cyber Defenders scholars programs are offering mentorship, access to job opportunity postings and other tangible resources to attract diverse or underrepresented groups to particular career fields.

Tuition assistance continues to be an underutilized employee benefit, but it’s a potential game-changer in terms of building skills internally. By creating or fine-tuning a program that is inclusive and aligned with the appropriate skills pathways, employers can skill up their existing talent, reduce their dependence on recruiting new talent and boost retention.   

One example of an employer using its tuition benefits program in a very strategic way comes from Arizona-based semiconductor manufacturer Microchip Technology.¹ Even though Microchip already had a robust training program for its 23,000-employee workforce, they established a way to fill talent gaps while making higher education more attainable and more affordable for employees by using a benefit that was already available to them. Through the DeVryWorks partnership and the DeVry Completion Grant, eligible Microchip employees obtain little to no education debt and the company is experiencing both employee retention and growth.

The DeVry Completion Grant covers the cost of tuition and fees remaining on a qualifying student’s account after other financial assistance, such as tuition assistance and grant aid, Pell Grants and other federal and state-provided aid or scholarships, have been applied.²

Private and public-sector employers alike can benefit from smart upskilling and reskilling programs. By providing the training and development to enhance current talent’s skills or learn new ones, employers can help to future-proof their enterprises. Along with a smart tuition benefits policy, this tactic can help close skills gaps, retain high-potential talent, boost employee morale and reduce recruiting-onboarding costs for new hires.

Most states offer some form of incentive for upskilling employees. For example, Indiana’s Skills Enhancement Fund (SEF) provides assistance in the form of grants that reimburse a portion of the costs to train new hires and existing workers over a two-year period. Grants from the SEF must lead to post-secondary credentials, industry-recognized credentials or specialized company training, and an increase in wages for existing employees.