philadelphia's talent dividend
TRANSCRIPT
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CEOs for Cities is a national network of urban
leaders dedicated to building and sustainingthe next generation of great American Cities.
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CEOs for Cities
The Talent Dividend
Sponsored by:
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City Dividends
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National Gains
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Talent
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Talent retention is key.
Quality of place
Quality of opportunity
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The Approach
Cities dier in educational attainment
Dierences reveal opportunities for improvement Improvement gains estimated from evidence
Gains represent potential payback from better
policies
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The Hypothesis
Better-educated = higher incomes Better-skilled = more innovation and productivity
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The Evidence
Education Explains Most Differences in Metro IncomeAnnual Per Capita Income, 2005
NO
RAL
ROC
SLC
BIR
BUF
OKC
HAR
RIC
LOUMEM
JAC NAS
AUS
MIL
CHA
PRI
VB
IND
COL
LV
SAT
KC
ORL
SACCLE
CIN POR
PIT
DEN
BAL
TPA
STL
SANMIN
SEA
PHO
DET
ATL
MIA
HOU PHI
DAL
CHI
LA
NY
y = 763.27x + 16466
R2
= 0.5846
$30,000
$32,000
$34,000
$36,000
$38,000
$40,000
$42,000
$44,000
$46,000
$48,000
$50,000
15 20 25 30 35 40 45
Percent of Population with a 4-Year College Degree, 2006
Sources: BEA (Income), Census (Education)
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Estimating the Gain
Each 1 percentage point increase associated with
$763 increase in per capita income or about $1,900
to $2,290 per year for average household (2.5-3people)
Important to note: education gains are product of
shift in entire skill distribution - not just moving a
certain number of people from no degree to collegegraduation
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Shifting the Distribution
Dropouts Advanced Degrees
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Educational Attainment
Source: 2006-2008 American Community Survey
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
No.
% of People
Less than High School 12.9% 497,068
High School Only 31.9% 1,229,183
Some College/AA 23.6% 909,364Four-year Degree 31.6% 1,217,623
Less than High School 9.1% 62,921
Four-year Degree 38.7% 267,589
Goal 32.6%
Additional degree holders 38,532
Talent Measures
Educational Attainment (Population 25 and Older)
Educational Attainment of Young Adults (25 to 34)
Talent Dividend
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Why Focus on Educational
Attainment?
Source: Bureau of Labor Statistics, April 2010
Overall 9.9%
Less than High School 14.7%
High School Only 10.6%
Some College/AA 8.3%
Four-year Degree 4.9%
Unemployment by Education Level
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Three-quarters of the workers that were
fired over the last year were let go on a
permanent, not a temporary basis.
-- David Rosenberg, July 2009
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Why Focus on Educational
Attainment?
Source: Bureau of Labor Statistics, First Quarter 2010
Wages by Education Level Weekly Annualized
Less than High School $448 $23,296
High School Only $624 $32,448
Some College/AA $738 $38,376
Four-year Degree $1,140 $59,280
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Data from Public Agenda surveys of US adults from the past decade
Belief in Need for College Degree to Be
Successful Is on the Rise
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Unemployed Americans More Likely to
Feel They Need Degree to Succeed
National survey of 872 likely voters conducted April 17-20, 2010
by Greenberg Quinlan Rosner
Unemployed Employed
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Philadelphia's
Talent Dividend
If we increase Philadelphia's college attainment rate
from 31.6 percent to 32.6 percent (38,532 additional
new grads)
The Philadelphia Talent Dividend =
$4.4 billion annually
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City Dividends
Total City Dividends for Philadelphia
$6.0 Billion Annually
$4.4 billion $464 million1.1 billion
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Talent Dividend Metrics
Moving the needle on any one of these while holding the
others constant will lead to increasing postsecondary
attainment.
Moving the needle on all five will quickly accelerate cities
reaching and surpassing their Talent Dividend goal.
On-time high school graduation rate
College continuation rate
Adult postsecondary participation rate
College completion rate College graduate retention rate
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Who Needs to Participate in
Achieving the Talent DividendColleges & Universities Increase retention and
completion rates, increase enrolled adults, retain
graduates in city
Businesses - Flex time, flex place, classes on
corporate campus, open house on occupations,
accredited corporate education, identify
employees with some college but no completion,
tuition reimbursement
Foundations - Align giving to reach goal, hold
grantees accountable, measure and report results
at key milestones, provide independent
advocates
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K-12 - Increase college-going behavior
Nonprofits - Align programs to reach goal, take
responsibility for results
Government - Flex time, classes in city buildings,
open house on occupations, identify employees
with some college but no completion, tuition
reimbursement
Economic Development - Embed talent
development and retention as a priority in
strategic plan
Who Needs to Participate in
Achieving the Talent Dividend
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Talent Responsibility MapBaseline
Organization
Critical Metrics
On-tim
eHigh
School
Graduates
Coll
egeContinuatio
n
Adult
Posts
econdary
Participatio
n
Coll
egeComple
tion
Organization
City Public Schools
County Public Schools
Private Schools
Community College
Public University X
Private Universities Y
Nonprofit High School Graduation
Access to College
Workforce Development
Foundation
Business
Government
Economic Development
Total BAs produced X+Y
= Primary Organization Net in-migration Z
= Secondary Organization Dying BAs A
Net BAs X+Y+Z-ATD Goal New BAs #
Gap #-Net BAs
K-12
Higher Education
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Imagine developingall of our talent
and putting it all to work.
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www.ceosforcities.org/talentdividendtour