tackling the talent challenge
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Presented at the Utah Tech@Breakfast by Pat Vaughn and a panel of experts.TRANSCRIPT
Investing in Utah’s
Future
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WelcomeApril 28, 2006
‘Tackling the Talent Challenge’
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Announcements
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Pat Vaughn
Talent Access Programs (TAP)
Governor’s Office of Economic Development
goed.utah.gov
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Economic Revitalization Plan
1. Revamp Utah’s Tax Structure 2. Improve the Competitive Environment for Small & Medium-
Sized Businesses 3. Recruit Business to Our State 4. Attract More Capital 5. Promote Growth In Target Industries 6. Capture Global Opportunities for Utah Companies 7. Enhance Utah’s National & International Image 8. Promote Tourism 9. Energize Economic Development In Rural Communities 10. Make State Government More Efficient
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Hiring Climate
Hiring Climate
Today’s Hiring Climate
• Panel of professionals
• Look from 10,000 feet
• Hear various aspects
• Gain understanding of the challenges ahead
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Panel
• Dr. Tamara Goetz
• David Spann
• Dennis Wood
• Lorina A. Tester
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Dr. Tamara Goetz
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Utah Life Science Industry
Meeting the Workforce Challenges of a Growing Industry
Challenges for Growing the Utah Life Science Industry
• Meeting workforce demands– Existing companies– New start-ups
• Responding to changing needs– Laboratory technician– Biomanufacturing technicians
• Creating a diverse workforce– Multiple entry/exit points– Dual training
Investing in Utah’s “homegrown” talent
Bridging Education and Workforce Development
Academic Training Program
Workforce Development
InnovaBio
•2-year Biotechnology degree•Theoretical•Technical
•Industry-based research•Innovation•Entrepreneurship•Mutual added value
•Industry demands met•Competitive students
The Return on Investment
• Academic program– 42 college graduates– >600 high school students– 4-year partnerships – Biomanufacturing track
• InnovaBio– 7 contracts– 50 interns– Replication– Student innovation and entrepreneurship
David Spann
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Agile Adaptive Managementtranslating innovation into business value, quickly
• Snowbird 2001: Agile software development begins
• Westminster College 2002: first Agile conference
• MBA Director, consultant to UITA, ULSA, CAM and Executive Coach
• Agile Adaptive Management 2006: helping organizations, executives and teams translate innovation into business value, quickly
• UITA Management Research Project 2004
2004 UITA Management Research Project
Ability and Effectiveness to Develop, Retain and Attract Management Talent
in Utah's Technology Sector
(1 is low, while 10 is exceptional; Scores are Median: 1/2 above and 1/2 below)
Developing Retaining Attracting
Importance 9 9 9
Effectiveness 5 8 6
Note: David Spann was with the Ralston Consulting Group when this research project was conducted.
A Forester’s View of Retention
Experience Lasts
Dennis Wood
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Tackling the Talent ChallengePresented by Dennis Wood
Venture Capital is Risk Management
Deal/ Company Structure Risk
Market Risk
Technology Risk
Management Risk
“The right leadership and ‘gene pool’ is the most important thing to a company’s success. The CEO’s thirst for talent and his (or her) salesmanship in recruiting talent and building teams are key to determining the future of the company.”
-Vinod Khosla, KPCB
Management Risk
Candidate Aggregation
•Partners, LP’s, Advisors, Portfolio Executives•Venture Forums, Universities, Tech-
vSpring Talent Database
transfers, Service Providers, OtherVC’s & Companies, etc.
Candidate Dissemination vSpring Portfolio & Future Investments
CRM Database, Director of HC
•Firm Initiatives
v|Spring Human Capital Strategy
Lorina A. TesterAssociate General Counsel
University of UtahInternational Center
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Program Pause
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Q & A
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THANK YOU!
www.goed.utah.gov
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Investing in Utah’s
Future