In the 21st century economy, jobs and the necessary skills they require are constantly evolving, while the preparations of students and workers has remained based in a prior era and economy. The U.S. Chamber Foundation and its partners are exploring new ways for employers and the financial services community to collaborate and identify new private sector tools to finance talent, develop new strategies for managing risk in the labor market, and manage how to pay for workers to get and constantly refine the skills they need. The Talent Finance initiative explores new ways to invest in people and skills that keep pace with innovation and advance economic opportunity, diversity, inclusion, and competitiveness.
In this installment of the Talent Finance Video Series, Ashli Watts, president and CEO, Kentucky Chamber of Commerce, sat down with Stuart Andreason, director, Center for Workforce and Economic Opportunity, Federal Reserve Bank of Atlanta, to discuss Talent Finance. Watts highlighted the fundamental changes in the economy due to COVID-19, and the success of Kentucky’s Talent Pipeline Management (TPM) pilot program.
Kentucky was one of three states selected to operate the first pilots of TPM. Within the span of two years, the initiative has grown to include “30 collaboratives across Kentucky that are active, engaged, and communicative,” said Watts. With talent becoming the new currency, Watts also noted, “the way we think about employment has changed.” The Chamber Foundation is dedicated to working with state and local chambers to reimagine how to innovate and invest in the economy’s most important resource — human capital.
Watch below:
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