Final Exam: Human Capital

VT Context of Workforce Development

**need to invest in early childhood interventions (will pay off in long run) -lack of access to affordable child care -parents have to take days off work when children don't have school

Goal: Sustaining the Workforce

-affordable childcare -family friendly work environments -promote affordable housing & transportation

Example of Human Capital: VT Department of Labor

-assist employers with job recruitment -open up job opps

CONCLUSION

Understand: 1.) LOCAL LABOR MARKET (age, education, household, other demographics) 2.) Current DEMAND for labor & future trends (industries hiring & growing) 3.) Current SUPPLY for labor (young people looking for jobs or moving away) 4.) LOCAL INSTITUTIONS affecting match between supply & demand (affordable housing, desirable to live)

Human Capital & Comm Development

*improving individual's human capital can lead to improvements at comm-level -more issues besides just skills training -invest in human capital--> invest in vitality of community -public/private partnerships & roles of CBOs

Functions of Hub Spoke

*increase bridging & linking capital -provide info -offer training/services -leverage resources

Goal: Preparing the Workforce

-Career exposure during high school (start young) -promote understanding of all options (tech)

Image of Hub Spoke Model

-Center: Central CBO -Spokes: city & state gov't, large regional employer, small employer, another CBO, community college

Define Workforce Development

-Helping people enter the workplace -Match skills, education, & jobs 1.) Enhance job specific skills 2.) Facilitate access to jobs by establishing relationships with employers 3.) provide info about job opps

Examples of Human Capital

-Population -General education -Creativity -Self Esteem -Health -Expertise/education

Community Workforce Development (Goals & Strategies)

-Preparing the Future Workforce -Sustaining the Workforce -Upgrading the Workforce -Expanding Workforce

Workforce Development Challenges

-SPACIAL MISMATCH of skills & employment opps -employee access to training -adequate resources to support low wage earners

Define Human Capital

-What skills & abilities individuals can bring to society -HARD SKILLS: physical -SOFT SKILLS: interpersonal skills, leadership abilities, values

Example of Human Capital: VT Works for Women

-helps women explore career options that lead to econ independence -how to get women into the workforce

Example of Human Capital: VT Tech Institute for Applied Ag & Food Systems

-how do we get people who have been laid off more experience -free short, food-related courses -partnerships with employers

Goal: Upgrading the Workforce

-improve success rate for education & training -upgrade workforce through funding & resource shifts

Example of Workforce Development: Google's new headquarters

-jobs & people to Mountain View, CA -loses look of "traditional city" -political decisions became based on Google's interests

Goal: Expanding Workforce

-more opps for diff fields -public/private partners -connecting education with work world Examples: -promote entrepreneurship -green collar jobs (renewable energy)

Define Hub Spoke

-most common form of workforce development network -blend of public/private sectors

Role of CBOs in Workforce Development

-orientation to work world -recruiting -placement -mentoring -skills training -spread costs of training over several organizations

Example of Workforce Development: Nashville tech school

-pursue vocational tech skills in high school

Example of Workforce Development: Young people in urban centers

-young people move from suburbs-->urban areas -"job sprawl" brings jobs back to the cities

Example of Workforce Development

Kennebec Valley Community College Sustainable Agriculture Program -associate degree or certification program to support growing need for farmers -work with existing farmers to make connections in workforce **had to show there was a need for the program

Linking Capital

bring people & local community organizations together

Bonding Capital

bring people together who already knew each other to strengthen relationships that already exist

Bridging Capital

bring people together who didn't previously know each other