Shaping Tomorrow’s Workforce Workshop

Sponsored By:

The University of Missouri – St. Louis

College of Business Administration

Workshop Agenda

• Introductions• Workshop Overview – Objectives, Outcomes• Background Information – Research/Surveys• Pre-Workshop Summary Results• Working Session

– Skills Gap Definition – Update –Pre-Workshop Survey Results - Skills– Identify Gaps– Develop Potential Solutions– Prioritize Skills

• Next Steps

Meeting Objectives

• To identify the current and future professional skill sets needed

• To determine the Gaps

• To identify potential solution to close the gaps

• To develop next step recommendations

Background Information

The Skills Gap in our Region." 2004East Tennessee State University study.

“52% of businesses surveyed said there is a skill gap among their employees while 63% said there is a skills gap with their applicants”

Survey Results – Gaps Increasing

Source: Survey of 1,729 human resource professionals conducted by the Society for Human Resource Management., June 22, 1997

43% said that current employeesdo not have skills levels to meet job requirements

60% of the survey participants said that the skill levels of today's job applicants do not meet job demands

52%

63%

2004Survey

Skills Gap Report – A Survey of the American Manufacturing Workforce

• Today’s skill shortages are extremely broad and deep, cutting across industry sectors and having an impact on more than 80 percent of companies surveyed

• Skills shortages are having a widespread impact on manufacturers’ abilities to achieve production levels, increase productivity and meet customer demands

• High-performance workforce requirements have significantly increased as a result of the skills gap shortage and the challenge of competing in a global economy, according to nearly 75 percent of survey respondents

2005 Skills Gap Report - National Association of Manufacturers (NAM),the Manufacturing Institute/Center for Workforce Success, Deloitte Consulting LLP

2005 Skill Gap Report Conclusion

“The confluence of these trends and the increasingly competitive global environment have created an extraordinary gap between the supply of skills available and the performance requirements of the workforce needed for modern global manufacturing. This human capital performance gap threatens our nation’s ability to compete in today’s fast-moving and increasingly demanding global economy. It is emerging as our nation’s most critical business issue.”

2005 Skills Gap Report - National Association of Manufacturers (NAM),the Manufacturing Institute/Center for Workforce Success, Deloitte Consulting LLP

Survey – Region at Risk Due to Critical Skills Gap

Worker Competencies• Strong problem

solving skills• Leadership skills• Critical thinking skills• Active listening• Conflict resolution• Teamwork

Worker Characteristics

Dependability

Work Ethics

Commitment

East Tennessee State University StudySkill Gap in our RegionMarch, 2004

GreatestGap

The Conference Board Report

“Most young people entering the US workforce lack critical skills essential for success.”

“It is clear that greater communication and collaboration between the business sector and educators is critical to ensure our young people are prepared to enter the 21st century workplace.”

Conference Board Report – Oct 2006

Are They ready to Work? - Study

Are They Ready to Work – the Conference Board, Partnership for 21st Century Skills, Corporate Voices for Working Families, and Society for Resource Management May 2006

“The future US workforce is here---and it is woefullyill-prepared for the demands of today’s and

tomorrow’s workplace

“Business leaders must take an active role in outlining the kinds of skills we need from our

employees for our company and economy to thrive”

UK Skill Set Gap Study

“The UK Skills-Gap has been estimated to cost UK business around £20 Billion every year.”

Pre-Work Summary Results

Prework Questions 1 a & bIn your opinion, how large is the professional skill set gap:

In the current workforce? Small Gap Medium Gap Large Gap 1 2 3 4 5 6 7 8 9 10

Future skills needed versus today's professional workforce skills? Small Gap Medium Gap Large Gap 1 2 3 4 5 6 7 8 9 10

a

b

Prework Question #2

What is the negative business impact if the skill set gaps are not met? Small $ Impact Medium $ Impact Large $ Impact 1 2 3 4 5 6 7 8 9 10

# 3 What do you feel are the top 5 management skills needed for your future workforce?

• Global perspective, international savvy

• Multi-generational workforce

• Motivating, developing and rewarding individuals and teams

• Strategic planning and execution

• Interpersonal skills

• Communication skills

• Writing skills

• Decision Making – take action

• Presenting and selling ideas

• Analytical skills

• Creativity, thinking outside the box

• Higher level business management skills

• Leadership skills

• Ethics

• Collaboration

• Adapt to change, flexibility

• Delegate authority & autonomy

#4 What are the top 5 areas companies spends on outside consulting resources?

• Systems development and

implementation, IT projects

• Market research, Marketing

• Strategic plan development

• Process/organization redesign

• Technical - Legal, tax, accounting, finance and IT, planning ideas

• Training

• Public Relations and Advertising – Communications

• Outsourcing

• Research and Development - new ideas, products and services

• Legal

• Compensation/Benefit

• M&A

• Recruitment

• Logistics

• Psychological testing

#5 What are the major barriers/issues why these skill set gaps have not been met today or to meet the future skills?

• Dramatic changes in business landscape and workforce

• Complex and strategic skills are not easily taught in the classroom

• Tend to educate people in silos - own disciplines

• Requirements tend to specialized.

• Lack of time.

• Lack of a broad business perspective.

• Lack of training and development

• Speed of change in particular job functions

• Available and affordable talent in the market

• Difficult to obtain in coursework – require practical experience to supplement school

#6 Any additional comments or suggestions we should address in the workshop?

• Educate on the basics before they enter the workforce

• Internships can be a key part of the solution

• Students may not be aware of the basic work requirements, expectations

• Employers may not be aware they need to provide meaningful and challenging jobs

• Education and training may not be keeping up with current trends and ideas

#7 What one question do you want to be sure we address in the workshop next week?

• The importance of internships

• What non-traditional educational techniques can be used improve experienced manager's skills

• Leadership development and training

Skills Gap Definition

Availableworkforce

WorkforceSkills

PerformanceDemands

Today’s Focus

Plus

Skills Gap

Target Employee Group

Professional Skills 4 year Degree

Skills Gap Draft Definitions

A professional skill that is not meeting either current or future job requirements.Therefore, there is a negative impact on job performance and/or on the companybottom-line results. E.g. Project Management, effective meetings, performancemanagement, etc.

A skill that our current workforce does not have and therefore we need to go tothe outside to hire a consulting organization with the needed skill. E.g. Softwareselection, strategic planning, system implementations, etc.

A future skill that we anticipate that is needed but there is no current plan orstrategy of how to develop or acquire that skill. The skills required to support the strategic plan. E.g. process redesign, driving stakeholder value, business casedevelopment, strategic relationship building, etc.

A critical skill that needs to be met today or tomorrow but is not meeting therequirements or demands of the job and the company. There may or may not be a strategy to meet the skill need.

Group’s Definition – Skills Gap

A critical skill that is not meeting the

job requirements.

Note: Could be both current or future job requirements

Questions

• Imagine the benefit to your company if both the current and future skill sets were met.

• What would be the negative impacts if the skill sets are not met?

Workshop DeliverablePriority

Ref # Skill Set H M L Today Tomorrow University Company 3rd Party Other CommentsSkill Set Needed Potential Skill Gap Responsibility / Solutions

Skill Set Workshop Deliverable

Next Steps

Action Responsibility Due Date

Working Session

Basic Skills & Knowledge (1) Applied Skills (1) Execution Skills Pre-Work Results

English Language (spoken) Critical Thinking / Problem Solving

Driving Stakeholder Value Global perspective, international savy

Reading Comprehension (in English)

Oral Communications Strategic Planning Motivating, developing and rewarding indivudals and

Writing in English Written Communications Project Management - IT/Non IT Projects

Strategic planning and execution

Mathematics Teamwork / Collaboration Meeting Management Interpersonal skills

Science Diveristy Process Redesign Communication skills

Govenernment/Economics Information technology Application

Performance Management - Measures

Writing skills

Humanities/Arts Leadership Change Management Presenting and selling ideas

Foreign Languages Creativity / Innovation Vendor Selection Analytical skills

History/Geography Lifelong Learning / Self-Direction

Business Case Development Creativilty, thinking outside the box

Profesionalism / Work Ethic Decision Making Skills Higher level business management skills

Ethics / Social Responsibility Portfolio Management Leadership skills

Presentations - selling ideas Multi-generational workforce

Ethics

(1) Conference Board Study

Skills

PriorityRef # Skill Set H M L Today Tomorrow Univeristy Company 3rd Party Other Comments

Skill Set Needed Potential Skill Gap Responsibility / Solutions

Skill Set Workshop Deliverable

Next Steps

Action Responsibility Due Date