REGIONAL TALENT INITIATIVE. Minneapolis BOMA

Transcription

1 REGIONAL TALENT INITIATIVE Minneapolis BOMA March 19, 2015

2 GREATER MSP VISION AND MISSION VISION The Greater MSP Region is recognized as a globally leading economy where business and people prosper. MISSION Accelerate job growth and capital investment in the Greater MSP region. REGIONAL ECONOMIC DEVELOPMENT STRATEGY MARKETING, BRANDING & PROMOTION JOB RETENTION, EXPANSION & ATTRACTION 2

3 In 2013, GREATER MSP and over 1000 partners created the region s first-ever economic development strategy. The strategy analysis provided a clear view of where our region is positioned to compete and win in the global economy. STRATEGY STEERING COMMITTEE June-November 2013 Tim Welsh co-chair McKinsey & Company Michael Langley GREATER MSP Katie Clark Sieben DEED Doug Baker co-chair Ecolab Dave MacLennan Cargill Ravi Norman Thor Construction And it identified areas where we need to work together to increase our competitiveness. Susan Haigh Metropolitan Council Brian Herman University of Minnesota Chris O Connell Medtronic Lee Sheehy McKnight Foundation

4 Financial Services & Insurance Advanced Manufacturing & Technology Health & Life Sciences Financial advisory Advisory Banking Insurance R&D centers Software/ IT Advanced manufacturing Energy/renewables Bio tech Healthcare Providers Healthcare Payers and IT Medical devices Headquarters & Business Services Food Food & Water & Agribusiness Solutions Regional Sectors of Strength Corporate headquarters Creative services Professional services Data centers Food Processors Food Production Agribusiness Nutrition Water filtration Water purification

5 TELL OUR STORY PRIORITIZE TALENT BUILD GLOBAL SECTORS Updated PLANNED & ACTIVE PROJECTS Equip leaders to tell the regional story Build regional competitive intelligence unit Create shared regional indicator dashboard Create talent retention & attraction initiative Connect & integrate human capital pipeline Create food sector team Central Cities Competitiveness Strategy Connect strategy analysis & policy priorities The regional strategy has 3 strategic pillars. Strategy implementation is underway with 8 projects, each connected to one of the pillars. The Task Force is part of this broader ecosystem of activity.

6 TALENT CRUNCH: MINNESOTA S STORY TALENT TASK FORCE When & where should we expect labor shortages in our state and metro? Recent MN DEED forecast for state shows labor shortages prior to Employment & Labor Force 6 Source: Minnesota Department of Employment and Economic Development

7 A GAP REGIONAL ACTION Early childhood K-12 Post-secondary Employment & career development The most competitive regions are working together to improve talent development AND retention & attraction. The strategy analysis revealed there is no regional collaboration focused on the retention & attraction of professional talent. Our region needs a bigger net to RETAIN the skilled talent emerging from the early stages of the pipeline. Our region needs a stronger magnet to ATTRACT degreed and creative talent into our workforce from outside of our state. 7

8 Strategy analysis: our region is falling behind our peers on young professional talent REGIONS CURRENT STATUS TRENDS CURRENT ACTION Austin Leading Talent Magnets Best- Practice Programs Denver/CO San Diego Seattle Silicon Valley Chicago MSP Pittsburgh Cleveland Detroit/MI Source: IO Inc. 8

9 TALENT TASK FORCE JULY FEBRUARY 2015 LEADERSHIP Co-chair: Doug Baker GMSP lead: Peter Frosch Co-chair: Bert Colianni Project Coordinator: Matt Lewis TASK FORCE Jen Ford Reedy, President, Bush Foundation Myles Shaver, Professor, Carlson School of Business Julie Sullivan, President, University of St. Thomas Jamie Millard, Curator, Pollen+OTA Adam Maikkula, Curator, Minneapolis Global Shapers Margaret Murphy, President 1to1, Olson Jay Gabler, Digital Editor, The Current/Classical MPR David Zelaya, Multicultural Center, University of Minnesota Jennifer Kelly, Campus Recruiter, Ecolab Shelly Fossen, Group Manager Talent Acquisition, Target Orinthia Montague, Interim VP for Student Affairs, Normandale Community College

10 TASK FORCE DELIVERABLES TALENT TASK FORCE CASE for REGIONAL ACTION Problem Definition with Numerical Goals Challenge/Asset Map with Stakeholder List Goals/Objectives for new Talent Initiative PROPOSED DESIGN & YEAR 1 ACTION PLAN Initiative Design with Structure, Strategies & Partners 5-7 Early Strategic Actions with lead Partners Resource requirements for early implementation New Talent Brand Platform TALENT BRAND Communication Pathways Plan to Integrate with Initiative 10

11 DATA-DRIVEN PROCESS TALENT TASK FORCE The Task Force spent 3 months digging into data to understand where a talent initiative for our region should focus. Human Resources Survey 80+ top companies in our region young professionals in our region professional employees of HQ companies GROUPS HR leaders, public sector CIOs, private sector developers, public sector young talent 11

12 SHARP LEARNINGS FOCUS: TO DATE PROFESSIONALS TALENT TASK FORCE Professional workers are opportunity multipliers Each high-wage job generates 3.5 additional jobs in the region s economy Our regional economy relies heavily on a professional workforce MSP #5 of top 25 largest U.S. metros for concentration of professional talent* Young professionals are the focus cohort for retention & attraction year olds are the most mobile workers in the U.S.** Sources: *CEO for Cities, City Vitals 2.0, data from U.S. Census Bureau, ACS ; **US Census Bureau, ACS

13 LEARNINGS TO DATE NEW INSIGHT TALENT TASK FORCE Overall, retention is a strength and attraction is a challenge MSP #1 in professional talent retention BUT #19 in attraction* Different story for minority professionals Attraction matters but the world doesn t know us MSP #14 in retention of minority professionals BUT #2 if there are children in the home* MSP economy depends on talent attraction today. We need to be better known to compete.** Jobs are a hook but quality of the region closes the sale Top MBA recruits to our region s companies received up to 9 offers from across the U.S. Sources: *Myles Shaver (University of MN) analysis, IPUMS-USA data (University of MN) **MN State Demographic Center, Time for Talent 13

14 INITIATIVE DESIGN TALENT TASK FORCE GOALS have broad Task Force support and give the new initiative substance and scope. The STRATEGIES are still in process. Once set, they make the goals actionable and measurable 14

15 Transition to Action