TALENT PIPELINE REPORT PREVIEW

The Talent Pipeline Report explores issues related to the supply and demand of talent in Colorado and strategies for strengthening our talent pipeline.

The full report will be released in late 2017.

Demand - What we need

Supply - What we have

Strategies - How we will close the gap

2017

1

As a state always at the ready to collaborate to address issues, Colorado is actively engaged in a range of strategies supporting the development of talent. Strategies focused on better aligning the skills of our workforce with employer demand include:

• Colorado’s Sector Strategies Network: This growing network now includes over 700 businesses involvedwith23regionalpartnershipsacrossthestate;aconsortiumofstatetradeassociations, and20localworkforceboards.

• Industry-driven Career Pathways Systems: Careerpathwaydevelopmentensuresthateducation, training,andworkforcesystemsstayattunedandresponsivetotheneedsofthelabormarket; in2016-2017thefocuswasonhealthcareandconstructionfields,whileforthcomingpathways includebusinessoperationsandcybersecurity.

• Expansion of Industry Recognized Credentials: Anexpandedcredentialsystemhasgreatpotential toimproveourabilitytopromoteandidentifyviablepathwaystoprosperityforColoradans bycreatingcommonandrecognizedlanguagethatbridgestheeducationandworkforce communities.Additionally,programsliketheseencouragehighschoolstudentstoearnan in-demandcredentialtobereadyfortheirnextsteptogetajobinColoradoandearnalivingwage. ThousandsofColoradostudentsaregraduatingwithanindustrycredentialinonehandanda highschooldiplomaintheother.AnexampleistheCareerSuccessPilotProgramwhichawards monetaryincentivestoschooldistrictsbasedonthenumberofstudentswhocompletequalifying industrycredentialsthatarealignedwithtopjobs.

• Engagement with Work-based Learning:Theseinitiativesincludetheexpansionofadultandyouth apprenticeships,internships,andon-the-jobtraining.

• 2Gen Approach:Twogenerationstrategiesalignavarietyofprogramsandservicesforchildren andadultstoservethewholefamilywithagoalofachievinglongtermself-sustainabilityand economicsecurity.

1Strategies

Shareofannualjobopeningsforjobsthatshowhighgrowth(>2.05%annually),highopenings(>40annually)andpayatleastalivingwageforanindividual($11.82/hr).

2Demand

All Top Jobs – Projected Annual Openings by Occupation Cluster (Statewide)

Supply

The Talent Pipeline Report focus on high-demand, high-growth jobs, that pay a good wage in two earnings tiers: one including jobs meeting a living wage for a family of three (one working adult), and a second including jobs meeting a living wage for an individual.

•Jobopeningsinthehigherearningstierarelargelyconcentratedinhealthcare practitioners and technical,business and finance,andIT occupations,andinmanagement positions.

•Jobopeningsintheearningstierthatmeetalivingwageforanindividualarelargelyconcentrated in construction,office and administrative support,healthcare support,andfood preparation and serving occupations.

•Nearlyalljobinthethehigherearningtierrequireformaleducationortrainingbeyondhighschool.

•Regionaldifferencesinthefieldsinwhichhigh-growth,goodwagejobsareconcentratedreflect eacharea’seconomy.However,manyhealthcarepractitionersandtechnicaloccupationsoften makethetopofregionallistsacrossthestate.

•Employershighlyvaluebothtechnicalandprofessionalcompetencies.Growingjobsarerequiring bothhighcognitiveskillsandhighsocialskills.Perhapsmorethaneverbefore,itisimportantfor Coloradansofallagestomaintainaliquidskillsmindset,asjobsevolvefasterthaneverdueto technologicalinnovations.

HealthcarePractitioners&TechnicalConstruction&Extraction

Business&FinanceOffice&AdministrativeSupport

ManagementComputer&Mathematical

HealthcareSupportEducation,Training&LibraryFoodPreparation&Serving

Installation,Maintenance&RepairPersonalCare&Service

Community&SocialServiceLife,Physical,&SocialScience

Arts,Design,Entertainment,Sports&MediaArchitecture&Engineering

Transportation&MaterialMovingProduction

LegalSales

6,531 (14%)6,375 (13%)

4,405 (9%)4,374 (9%)

3,977 (8%)3,301 (7%)

3,229 (7%)3,066 (6%)

2,860 (6%)2,239 (5%)

1,921 (4%)1,565 (3%)

1,126 (2%)980 (2%)

909 (2%)572 (1%)

393 (1%)266 (1%)259 (1%)

67 percent of job openings for “top jobs” typically require some level of formalized postsecondary education or training.

Despite the fact that Colorado has one of the lowest unemployment rates in the country at 2.3 percent, there is still untapped talent in Colorado. Unemployment rates are higher for various segments of the population, such as those with disabilities, those with a criminal record, and youth. There are also over 400,000 Colorado adults with some postsecondary education, but no credential. The unemployment rate varies by region, as does the share of residents that participate in the labor market.

• Colorado gained over 60,000 residents in2016,largelyalongtheFrontRange.

•Colorado’slifestyle,family-friendliness,andcollegialatmosphererankhighwithourtalent,but Colorado’stalentnotefeelingtheimpactoftherisingcostofhousing/living.

State demographics are changing.

•Theagingpopulationissupportingabout240,000 jobsthroughtheirspending,buttheretirement oftheseindividualsisleadingtothelossofhighlyexperiencedtalent.

•Coloradohasahighlyeducatedworkforcerelativetothenationalaverage,butmanyracialor ethnicminoritiesdonothavehighlevelsofeducationalattainment.Thisisaneconomicissue,as ourHispanicpopulation,inparticular,isfast-growingandchangingthemakeupofourworkforce.

2

0

10%

20%

30%

40%

50%

60%

70%

80%

Other (Black, Asian, Native American)

Hispanic

White, Non-Hispanic

All Minorities

20502040203020202010

Percentage of Colorado Adults 25 and Older with an Associate Degree or Higher

Changing Workforce Demographics in Colorado

31%

57%

23%

37%

55% Overall: 49%

American Indian Asian Hispanic Non-Hispanic Black

Non-Hispanic White

TALENT PIPELINE REPORT PREVIEW

The Talent Pipeline Report explores issues related to the supply and demand of talent in Colorado and strategies for strengthening our talent pipeline.

The full report will be released in late 2017.

Demand - What we need

Supply - What we have

Strategies - How we will close the gap

2017

1

As a state always at the ready to collaborate to address issues, Colorado is actively engaged in a range of strategies supporting the development of talent. Strategies focused on better aligning the skills of our workforce with employer demand include:

• Colorado’s Sector Strategies Network: This growing network now includes over 700 businesses involvedwith23regionalpartnershipsacrossthestate;aconsortiumofstatetradeassociations, and20localworkforceboards.

• Industry-driven Career Pathways Systems: Careerpathwaydevelopmentensuresthateducation, training,andworkforcesystemsstayattunedandresponsivetotheneedsofthelabormarket; in2016-2017thefocuswasonhealthcareandconstructionfields,whileforthcomingpathways includebusinessoperationsandcybersecurity.

• Expansion of Industry Recognized Credentials: Anexpandedcredentialsystemhasgreatpotential toimproveourabilitytopromoteandidentifyviablepathwaystoprosperityforColoradans bycreatingcommonandrecognizedlanguagethatbridgestheeducationandworkforce communities.Additionally,programsliketheseencouragehighschoolstudentstoearnan in-demandcredentialtobereadyfortheirnextsteptogetajobinColoradoandearnalivingwage. ThousandsofColoradostudentsaregraduatingwithanindustrycredentialinonehandanda highschooldiplomaintheother.AnexampleistheCareerSuccessPilotProgramwhichawards monetaryincentivestoschooldistrictsbasedonthenumberofstudentswhocompletequalifying industrycredentialsthatarealignedwithtopjobs.

• Engagement with Work-based Learning:Theseinitiativesincludetheexpansionofadultandyouth apprenticeships,internships,andon-the-jobtraining.

• 2Gen Approach:Twogenerationstrategiesalignavarietyofprogramsandservicesforchildren andadultstoservethewholefamilywithagoalofachievinglongtermself-sustainabilityand economicsecurity.

1Strategies