Businesses large and small face a talent shortage – this issue affects all industries and most regions across the country, even those communities experiencing low unemployment rates. As a result, business leaders are grappling with how to grow their businesses when unfilled job openings persist and candidates come to them lacking the skills needed to onboard successfully.
Business, however, is a critical part of the solution and can’t shy away from the need to engage more meaningfully in the talent pipeline process. Since 2014 the U.S. Chamber of Commerce Foundation’s Talent Pipeline Management Initiative has been putting employers in the driver’s seat of workforce partnerships for demand-driven workforce solutions. Where TPM is considered, the employer is the end-customer of the talent supply chain.
This initiative has grown so significantly since 2014 that the network of TPM ambassadors is now made up of more than 90 communities executing TPM strategies, leveraging the tools and resources we have created to support the initiative.
How does it work?
The driver behind the TPM initiative is a six-strategy approach to creating, executing, and evolving the industry-focused employer collaboratives. To build TPM programs across the country, we developed the TPM Academy, a curriculum-based training that dives deep into the six strategies and trains participants to get the TPM machine up and running in their community.
The TPM network stays connected to the content of the curriculum through a web tool, which was developed to help employers better understand and communicate hiring requirements for their most critical jobs – those that would allow their businesses to grow and compete if filled. Much of the information in the web tool is gathered from directly surveying the businesses who make up an employer collaborative-so the group isn’t relying solely on industry trends or external sources but able to hone in on their specific needs.
The other piece of data collected by the web tool is a needs assessment survey-which captures demand planning for critical jobs as well as preferred or required hiring requirements for those positions-resulting in an employer’s ability to communicate their hiring needs to their talent providers. A crucial resource.
For that reason, we are excited for the potential of the Credential Engine’s Registry to further streamline the TPM process and help employers solve shared workforce pain points.
Similar to TPM, Credential Engine seeks greater transparency in the credential marketplace, better enabling students, potential employees, employers, and training providers to know which credentials have the greatest value and result in success in the workplace.
By pulling credential and competency information from the Credential Registry into the TPM web tools, employers will have more critical information at their fingertips.
For example, if an employer in the TPM network is specifically interested in logistics, they could search the Credential Registry to find competencies and credentials that have information about third-party quality assurance to include directly into their needs assessment surveys. From there, employers could find providers that offer those competencies as preferred or required … taking out some of the leg work to building their talent pipeline.
Ultimately, we want to make the lives of employers easier, but also better prepare and connect potential employees to jobs. Through the TPM approach, educational institutions can tout more effective job placement for students and employers get the right talent for the right job when they need it.
Author: Jaimie Francis, Director of Programs and Operations, U.S. Chamber of Commerce Foundation Center for Education and Workforce