Community Promise provides your business with a competitive advantage that will allow you to compete and thrive. Here's why it's time for businesses of all sizes to roll up their sleeves and make a promise.
Young people are tomorrow's source of ingenuity and human capital. As a business community, equipping these individuals for success is an outcome that cannot be undervalued and one that companies must leverage to meet their future business goals. When students enter the labor market with a strong work ethic, a well-formed base of knowledge and maybe even credentials to be immediately productive in the workplace, all aspects of society benefit. Investing in young people allows our entire community to reach higher and achieve more.
Communities prosper when young people succeed. An individual's education and appreciation for learning contributes to the development of strong families and builds the groundwork for sustainable neighborhoods. Both small and large businesses thrive in communities where there is a skilled and well-prepared talent pipeline to meet workforce demands. At the same time, communities and neighborhoods pay a cost when young people fail to acquire the talents and motivation necessary to live a successful life.
Return on investment is high for both business and society. A recent study by the Center for Universal Education shows that for every $1 invested in a child's education, there is a $53 return to an organization at the start of that person's employment. Investing in education promotes economic growth, leads to more stable societies, and fosters healthy communities.
Within our regional laborshed, the average age of employed individuals is 49. An aging workforce combined with today's highly competitive markets require an unprecedented need for a skilled talent pipeline. The success and sustainability of many industries depends on a company's ability to access a steady supply of qualified young people emerging from our high schools and colleges. Many companies will continue to have difficulty locating enough highly-skilled workers. These include jobs from machinists and technicians to mechanical engineers and accountants. Research by the McKinsey Global Institute estimates that "under current trends, the United States will not have enough workers with the right education and training to fill the skill profiles of the jobs likely to be created." This situation is set to intensify as the baby boomer generation begins to leave the workforce over the next decade. Business partners must be committed to addressing this growing challenge by working alongside future workers, educators, and our community to drive long-term solutions.