Washington - Business Roundtable today released a new playbook designed to help employers partner with educators to build workforce development programs and fill in-demand jobs. This resource follows the Business Roundtable Workforce Partnership Initiative (WPI) template, providing a detailed roadmap for employers and higher education leaders to address the dynamic employment environment.
“WPI is dedicated to accelerating the entry of competitive, career-ready individuals into the workforce by fostering strong partnerships between business and education leaders,” said Joshua Bolten, CEO of Business Roundtable. “In a rapidly evolving job market, WPI stands out as a dynamic solution, uniquely positioned to address the needs of employers, workers and regional economies.”
Launched in 2018, WPI leverages the collective interest and need among CEOs for a skilled workforce. Through WPI, CEOs collaborate with local colleges and universities in nine U.S. regions to fill high-demand jobs in STEM-related fields, such as cybersecurity and data analytics, and in skilled trades positions, including technicians, machinists and welders.
"Technological changes always reshape the job market. That’s why the future of work continues to be about skills development,” said Jamie Dimon, Chairman and CEO of JPMorganChase. “Business, education and government working together is essential to develop curriculums and apprenticeships that align with high-demand, well-paying jobs. While we’re making progress, there is still much more to be done. This Business Roundtable playbook exemplifies the power of collaboration, taking the best of what we’ve learned and outlining strategies more businesses and communities can benefit from.”
“New approaches to talent development, rooted in the power of American innovation and strategic partnerships, are critical to growing and developing today’s workforce,” said Kathy Warden, Chair, CEO and President of Northrop Grumman. “Leveraging the insight and expertise of business, government, academia and our community leaders will enable us to go farther, faster. Tailoring solutions from the playbook to address the unique needs of each region will help expand opportunities for American workers today and create a positive impact in our communities for years to come.”
To date, there are six active WPI sites and three self-sustaining sites. These sites have engaged more than 13,000 students, nearly 18,000 apprenticeships, almost 500 businesses and 130 higher education institutions since 2018. Research has found several benefits of the various models WPI sites employ, including decreased training costs, improved retention and expanded opportunity for nontraditional students.
Read the full playbook here, which was created in partnership with the Business-Higher Education Forum and JPMorganChase. Learn more about WPI and other Business Roundtable initiatives to expand opportunities for employees here.