Posts

Insights For Action

How the MSP Region is Addressing the Growing Talent Crisis with Analysis of Real-time Labor Market Data

In the last few years, a range of online analytical tools has enabled a clear view of our dynamic and constantly changing labor market. For the first time, this data is available to job counselors and planners not just as information for reflection, but as a real-time action tool to direct jobseekers to the best opportunities. This report outlines our approach to taking the first step in addressing this crisis: documenting the labor shortage and skills gap, identifying the impact that our programs and initiatives could have on closing those gaps, and building a strategy for a more systematic and employer-led long-term solution.

We believe workforce development must now be based on a real-time feedback loop. Without a clear line of sight into the current labor market realities, it is impossible to advise job-seekers effectively, meet employer talent needs, or plan effective educational systems. We have learned that in a program-rich, systems-poor environment, context in real dataand short-term outcomes can help move out of the spin-cycle of planning and into systems change.

However, a strong report alone will not lead to systematic change, better programs, or improved outcomes without engaging the necessary leaders to take the next step. Even after reviewing the wealth of LMI, job postings, and educational data at our disposal, it is still essential to get out in the field and talk to employers, training program managers, K-12 educators, and postsecondary directors get their take on the accuracy and relevancy of the data and your conclusions from it.  Only then can we identify solutions that ensure employers have the workers required to sustain and grow Minnesota’s economy.

Real Time Talent and MSPWin will continue to promote and expand demand-driven solutions that are grounded in the realities of talent supply limitations and opportunities. We hope that this implementation guide is an important step toward building the next generation of cross-sector, employer-led education and workforce collaboratives to address the workforce challenges of our time.

Click HERE to read the full report.

IT Jobs Continue in High Demand Across Industries

Our newest infographic highlights some of the latest trends in Information Technology–including the top soft skills, character traits, and computer skills that employers are looking for in new candidates.  Take a look to see what employers are demanding from today’s Minnesota job seekers and get a sense of how much this field is expected to grow by 2024.

 

2016 Trends in Hiring in the Twin Cities Metro

In the Twin Cities, the workforce is mobile. Although differences exist between the candidate pools and job opportunities found in each of the metro’s seven counties, there are more similarities than differences.

Metro employers continue to seek out candidates with a strong foundation in soft skills including communication, attention to detail, problem solving, and customer service. Information Technology is the top job function area in demand in the metro area, with a particular focus around business information management, healthcare IT, and cybersecurity in finance IT.

For more details on the booming job market in the Twin Cities Metro, take a look at our recent report or the summary slides linked below.

 

 

The RealTime Talent Exchange Network Grows

This month, four organizations launched branded portals of the RealTime Talent Exchange.  Ranging from trade and employer associations to local economic development corporations and chambers of commerce, these additions to our network of platforms signal that Minnesota businesses have a big interest recruiting talent differently.

The RealTime Talent Exchange is a cutting-edge web-based job platform that  away from resumes, position descriptions, and traditional recruiting practices toward a new matching technology that leapfrogs other online tools.  The Exchange uses statistically-validated questions for specific positions and sophisticated matching to create high quality connections and increase the diversity of candidate pools.  It surveys candidates and employers about needs, interests, abilities, and preferences and then uses WorkFountain’s patent-pending matching algorithms to create matches, instantly connecting job and internship-seekers to opportunities. By matching candidates to employers based not only on skills and requirements, but also on job interests and workplace preferences, the Exchange ensures that candidates are well-suited for positions and provides employers with access to candidates who are the best possible fit.   It was developed by Michigan-based process engineering company Digerati (under the name WorkFountain) to help create a more efficient labor market and reduce bias in the hiring process.  The Exchange also:

  • Cuts the time and cost of recruiting and job searching
  • Provides rapid and high quality matches
  • Serves the unique needs of small, mid-sized, and large employers
  • Delivers integrated resources to support recruitment goals and compliance reporting
  • Provides customer-centered tools for employers, job-seekers, educators, industry organizations, economic developers and others

The first portal to launch in Minnesota belongs to the Vadnais Heights Economic Development Corporation, titled the VHEDC Talent Exchange. Within a few hours of launching the site, three employers had jumped at the opportunity to leverage the unique matching technology.

Second to launch was the AgriGrowth Job Exchange.  AgriGrowth immediately saw the benefit of a talent matching platform that would help ag employers more effectively and efficiently find the talent they needed.  The volume of job posts on their portal has been growing at the trade association’s network of employers experience the platform and see how powerful it can be.

Launching within 24 hours of each other, the MHTA Talent Exchange of the Minnesota High Tech Association and the Minnesota Chamber of Commerce’s MN Job Match platform have already created a lot of buzz.  With more hosted portals preparing for launch in March, the RealTime Talent Exchange continues to grow. If you have questions about the Exchange or becoming a host, please contact RealTime Talent’s Executive Director, Sandee Joppa or the Exchange Director, Jess Niebuhr.

Portfolio Items