With emerging industries — from artificial intelligence to semiconductors clean energy-Quick motivationgood jobs“And workforce development InvestmentsWe have a once-in-a-generation opportunity to build new American industries and a skilled workforce for workers of all ages and all stages of life.
But what’s the bad news? Today’s strategies for attracting what is often misunderstood as “qualified talent” are a zero-sum game, and there is no way to meet emerging skills needs through college alone.
The good news: we don’t have to do that.
While half of the U.S. workforce does not have a bachelor’s degree, they do Skilled through alternative methods (stars). In reality, 30 million Young recent graduates already have the skills needed to take on roles that pay at least 50% more than their current job, but many are denied career advancement. One promising path for young graduates to good jobs is vocational training – which allows workers to earn money and learn at the same time, without debt.
Recently research A report from the Burning Glass Institute and Multiverse reveals that apprenticeships could move 830,000 people into higher-paying jobs, resulting in a $28.5 billion increase in earnings annually—providing massive boosts to business productivity and the broader economy through pathways designed for all workers at all stages of their careers and education.
The opportunity is there, and employers now realize that vocational training is essential for emerging professions that are in high demand. This includes professions that are relatively new to the job market, such as cybersecurity or data analyst. according to Analysis by Opportunity@Work and Lightcast.
While the apprenticeship model has been used by professions for centuries around the world, its expansion into new industries has seen success. IBM She launched her “New Collar” program in 2017. Since then, it has expanded to over 33 registered training positions from cybersecurity to data science. Since then, more smart companies have realized that they need “tear the paper ceiling” And investing in training paths.
For the United States to create a thriving apprenticeship ecosystem, it is critical that the private sector and public sector work together — and fortunately, we are seeing great strides at the federal and state levels already. This year, President Biden signed an agreement Executive order It aims to make the federal government “a model for using and promoting skills-based hiring, such as the use of registered apprenticeships, which reduces barriers to employment and attracts a diverse workforce to meet our nation’s critical needs.”
At the state level, 33 US states already offer tax breaks for hiring interns. And support tuition fees for registered trainees. One shining example of this is the state of Illinois, where Gov. J.B. Pritzker Create a tax credit of up to $5,000 per apprentice It has already seen a positive return on investment with a 13.2% increase in the number of apprentices enrolled in the state – nearly double the national growth of 7% over the same time period.
Opportunity and demand Proven success There are opportunities for vocational training. So what are we missing? Investments that can be scaled up.
Today, federal, state and city governments spend nearly $500 billion annually on college initiatives, while spending less than $400 million on job training, a ratio of 1,000:1, he says. Nation of Trainees Author Ryan Craig. this Doubtful An investment strategy, where more and more people are pushed into situations where they are crushed Student debtcomes while Suggestions Which could “generate $10.6 billion in net benefits to American taxpayers” — a 270% return on investment — remains dormant.
Since the proposals to eliminate degree requirements and hire interns are widely popular with voters from both the Republican and Democratic parties and independents, this should not be a difficult issue to gain bipartisan support in the nation’s capital and in statehouses across the country. This year, the National Governors Association announced the results of the primary elections. Launched a Community of Practice with 22 countries To share best practices, challenges and lessons learned in skills-based recruitment.
With relatively few people with relevant experience, Required rolesThe model of hands-on on-the-job training through retraining, upskilling and early talent programs is not only ideal but also essential for workers and employers alike.
To bring millions more workers into the middle class and close the pressing skills gaps facing employers today, policymakers must You must continue to find More efficient and effective ways to scale apprenticeships instead of Chasing the misleading idea A bachelor’s degree alone can solve our talent needs.
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