The Missouri Chamber Foundation’s Workforce2030 report is a strategy to invest in workforce development and retention initiatives to attract and maintain a stronger workforce in our state.
In today’s fierce competition for economic opportunity, the workforce has emerged as the most effective asset. The countries, states and regions that recognize that fact and wisely invest in strategic workforce development and retention initiatives will flourish, while the rest will be left behind.
While predicting the economic future is difficult, one fact is certain: the most successful businesses that emerge over the coming decades will position themselves where they have access to a top-quality workforce. We want to be sure Missouri is that place.
But first, Missouri must overcome several challenges: stagnant workforce growth, the impending retirement of older workers, a changing job landscape, a widening skills gap and a workforce development system in need of retooling, to name a few. However, we have great assets too. Missouri excels in many areas of the new economy. We’ve earned good marks in graduation rates. We have regions doing innovative work in many workforce areas. The leadership of Missouri’s workforce development arm is energized and capable of taking Missouri’s system to the next level.
In today’s fierce competition for economic opportunity, the workforce has emerged as the most effective asset. The countries, states and regions that recognize that fact and wisely invest in strategic workforce development and retention initiatives will flourish, while the rest will be left behind.
While predicting the economic future is difficult, one fact is certain: the most successful businesses that emerge over the coming decades will position themselves where they have access to a top-quality workforce. We want to be sure Missouri is that place.
But first, Missouri must overcome several challenges: stagnant workforce growth, the impending retirement of older workers, a changing job landscape, a widening skills gap and a workforce development system in need of retooling, to name a few. However, we have great assets too. Missouri excels in many areas of the new economy. We’ve earned good marks in graduation rates. We have regions doing innovative work in many workforce areas. The leadership of Missouri’s workforce development arm is energized and capable of taking Missouri’s system to the next level.
Workforce2030 was commissioned to identify Missouri’s workforce challenges and, most importantly, find innovative ways to address them and leverage our assets. This study is part of the Missouri Chamber’s overarching Missouri 2030 strategic plan to reposition Missouri as a global leader. Through research from Gallup, we know that the leading concern of Missouri employers is the availability of a qualified workforce. Gallup’s survey of 1,000 Missouri employers found that only 44 percent of business leaders are satisfied with the state’s availability of skilled workers. Only 15 percent agree that high schools are preparing students for the workforce, and only 30 percent agree that Missouri attracts or can retain top talent. One CEO summed up our challenge recently when he told us, “We cannot find enough workers with the right skills. There is a mismatch, and unless somebody does something soon, we won’t be able to grow in Missouri.”
In the process of producing this study, we collected quantitative labor market data. We also reached out to education and workforce leaders, policymakers and many of our state’s employers to ask what we need to do. Education and workforce leaders talked about capacity, consistency, collaboration, better information and more private-sector engagement. Policymakers stressed alignment, return on investment and more public awareness. Employers expressed concerns about the quantity and quality of the available workforce, the mismatch between what is being taught and the skills they need, the overall lack of soft skills among young workers and the rising costs of finding talent.
The task is daunting, but we can, and we must, do better. By listening to the state’s employers, we know students must be better educated and more work-ready. We know businesses must be more engaged in developing the education and training curriculum and in offering more work experience. We also know that unless we work together, share better information and take aggressive actions, Missouri will not win the jobs war.
Workforce2030 was commissioned to identify Missouri’s workforce challenges and, most importantly, find innovative ways to address them and leverage our assets. This study is part of the Missouri Chamber’s overarching Missouri 2030 strategic plan to reposition Missouri as a global leader. Through research from Gallup, we know that the leading concern of Missouri employers is the availability of a qualified workforce. Gallup’s survey of 1,000 Missouri employers found that only 44 percent of business leaders are satisfied with the state’s availability of skilled workers. Only 15 percent agree that high schools are preparing students for the workforce, and only 30 percent agree that Missouri attracts or can retain top talent. One CEO summed up our challenge recently when he told us, “We cannot find enough workers with the right skills. There is a mismatch, and unless somebody does something soon, we won’t be able to grow in Missouri.”
In the process of producing this study, we collected quantitative labor market data. We also reached out to education and workforce leaders, policymakers and many of our state’s employers to ask what we need to do. Education and workforce leaders talked about capacity, consistency, collaboration, better information and more private-sector engagement. Policymakers stressed alignment, return on investment and more public awareness. Employers expressed concerns about the quantity and quality of the available workforce, the mismatch between what is being taught and the skills they need, the overall lack of soft skills among young workers and the rising costs of finding talent.
The task is daunting, but we can, and we must, do better. By listening to the state’s employers, we know students must be better educated and more work-ready. We know businesses must be more engaged in developing the education and training curriculum and in offering more work experience. We also know that unless we work together, share better information and take aggressive actions, Missouri will not win the jobs war.
As with all of the research projects produced through Missouri 2030, we first reached out to the state’s employers for input to guide our work. We also spoke with education and workforce leaders and policymakers. In addition, we explored best practices in Missouri and throughout the nation.
Through the Missouri 2030 strategic plan, we have outlined strategies for significant strides to improve the state’s business climate. Our next challenge is to improve our workforce. To accomplish that goal, we recommend Missourians work together to maximize business engagement, focus on improving worker skills, prioritize regional sector strategies, increase career awareness, attract and retain more talent and improve communications for all stakeholders.
As with all of the research projects produced through Missouri 2030, we first reached out to the state’s employers for input to guide our work. We also spoke with education and workforce leaders and policymakers. In addition, we explored best practices in Missouri and throughout the nation.
Through the Missouri 2030 strategic plan, we have outlined strategies for significant strides to improve the state’s business climate. Our next challenge is to improve our workforce. To accomplish that goal, we recommend Missourians work together to maximize business engagement, focus on improving worker skills, prioritize regional sector strategies, increase career awareness, attract and retain more talent and improve communications for all stakeholders.
Ted Abernathy is the managing partner of Economic Leadership LLC, a Raleigh, North Carolina–based company that helps businesses — and places — increase their competitiveness. Ted has 40 years of experience directing economic development and workforce development programs. From 2008 to 2013, Ted was the executive director of the Southern Growth Policies Board, a 42-year-old public-policy think tank that provided research to states and communities across the South.
Before Southern Growth, Ted was an economic developer for 28 years, including 8 years as executive vice president/COO for the Research Triangle Regional Partnership. His latest research has focused on reimagining workforce development, making manufacturing more competitive and analyzing 25 years of rural economic development policy. Ted received his bachelor’s degree from the University of North Carolina at Chapel Hill and his master’s from Johns Hopkins University. He is a graduate of the Economic Development Institute and is an Eisenhower Fellow for global economics.
Greg Payne joined Economic Leadership as vice president following lengthy experience in commercial real estate, economic development and land use planning. He worked for more than 13 years as a commercial and investment real estate broker in the Research Triangle region of North Carolina. Prior to that, he assisted local governments in North Carolina with economic and business development efforts and did land-use planning in the Shenandoah Valley of Virginia. At Economic Leadership, Greg has led efforts to develop economic strategies for county comprehensive plans, created regional workforce assessments and analyzed national best practices in both economic development and workforce development.
Greg received his bachelor’s degree from Duke University, and his master’s in urban and environmental planning from the University of Virginia. He is also a Certified Commercial Investment Member and graduate of the Economic Development Institute.
