Mobilizing Employers to Upskill Their Employees Thank you for attending today s webinar! We will begin the presentation momentarily.
TODAY S WEBINAR SPEAKERS Moderator Panelist Panelist Bridget Netter Director, Business Education Partnerships Los Angeles Area Chamber of Commerce Greg Laposa Vice President, Education Strategies St. Louis Regional Chamber Haley Glover Strategy Director Lumina Foundation
Why Does Post Secondary Education Matter? Source: Signature Report 7: Some College, No Degree: A National View Of Students With Some College Enrollment, But No Completion. National Student Clearinghouse Research Center. Web. 28 July 2014.
Why Does Messaging for Increasing Post Secondary Education Matter? Levels of Education for United States Residents, ages 25-64 Bachelor s Degree: 19% Associate Degree: 9% Some College, but no Degree: 22% High School Graduate: 27% 9th-12th Grade: (No Diploma) 7% Less than 9th Grade: 5% Graduate or professional Degree 11% Source, US Census Bureau, 2012 American Community Survey
Employers Play a Key Role Talent Management Strategy Developing skills and talent to stay competitive Investing in training and education program to attract and retain top Diversifying leadership and talent pipelines Increasing employee engagement and connectivity Competitive Advantage Strategy Increasing productivity and innovation Improving customer service and loyalty Managing and reducing budgetary impact
Chambers Play a Key Role Chambers Role Trusted partner leveraging its intermediary role to bridge relationships between employers and the education community Addressing diverse needs of membership and communities sizes, sectors, ethnicities, etc. Increasing alignment between businesses and educational institutions Engaging C-Suite executives and business leaders Connecting emerging industries that drive demand for new degrees, certifications and degrees Developing relevant, sector focused models of collaboration Leveraging Chamber voice and advocating for policy revisions and tax incentives for employers
Degrees That Work Employer Toolkit Purpose: Promote positive changes in workplace practices that facilitate increased attainment levels for working adults Foster employer engagement and leadership in the regional effort to increase educational attainment of adults living and working in St. Louis Major Components: A Business Case Identified best Practices to support working adults A self-assessment to diagnose current workplace supports A scorecard to evaluate progress in meeting goals
Best Practices Encourage: Emphasize importance of college completion Incorporate learning into career development plans Recognize and celebrate completion of degrees, certifications, or classes Inform: Empower employees to be smart consumers Provide information to employees on financial assistance Make credit and financial aid (FAFSA) counseling available Facilitate: Help Drive Down Costs Establish or expand your tuition reimbursement programs Ensure flexibility in the work schedule for those seeking to pursue college degrees Engage: Encourage Peer Support Identify a College Advocate to provide guidance and leadership of the initiative at your company Encourage mentoring and peer study opportunities Engage alumni to provide support to returning students
Degrees That Work Program Development We envision the Degrees That Work program increasing the educational attainment of working adults in St. Louis by: Fostering employer engagement Offering college advising and navigational coaching to working adults Identifying and sharing best practices to support adult learners
Total Investment Total Benefit/Loss Level 1 ROI for Program Hypothesis: Positive ROI on Employee Credentialing Programs leads to more effective spend and translates to shareholder value Revenue Costs Level 2 Employee / Education Investment Costs Productivity Level 3 Indirect Benefits Operational Costs Talent Management Costs Training Costs Opportunity Costs Level 4 Productivity Output Product / Service Innovation New Skills Employee Engagement Customer Satisfaction Brand Recognition Loyalty Time Savings & Efficiency Risk Avoidance Promotions Internal Transfers Turnover Absenteeism Training / Tuition Fees Administration & Evaluation Other Costs & Expenses Productivity Loss Replacement Cost Employee Salary & Benefits Key Factors Explored in Cigna Study
Investment For every dollar Cigna invested in tuition assistance from 2012 to 2014 Education Reimbursement Program (ERP) Value Created Business Cigna got its dollar back and saved another $1.29 in talent management costs. Employees frontline* employees using ERP achieved 43% incremental wage gains and had more career opportunities than non-participants. Based On The value created is based on increased rates of promotions, transfers, and retention for employees participating in ERP versus non-participants. +10% promotions +7.5% lateral transfers +8% retention
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Education Attainment Division (EAD) Resources Connect with ACCE s EAD consultants who provide support to ACCE members looking to expand their education and workforce development agenda Check out the EAD s new Chamberpedia page on Mobilizing Employers to Upskill their Build awareness of EDWD Develop and provide Provide targeted direct TA to Facilitate connections, issues among chambers and resources to COC s that chambers via consulting, and enable growth of Employees. Webpage URL: inspire them to get involved demonstrate how to do programs and access to peer-to-peer learning in EDWD issues EDWD work experts networks http://www.acce.org/wiki/mobilizing-employers-to-upskill-their-employees/ Activate skilled advocates, champions, leaders within chambers and among the business community Register today for ACCE s 2016 Annual Convention, which offers a full education and workforce development track August 9-12. Learn more at: http://convention.acce.org/ For more information, email Analidia Blakely at ablakely@acce.org or visit acce.org/ead.