How Do We Finance and Invest in Talent?
Public and private sector financing innovations, combined with access to better data and more robust employer leadership, set the stage for restructuring how we finance and manage the risks in talent development for all relevant stakeholders. Therefore, we need a talent finance approach fit for our time, and not one built for the past economies and labor markets. This new transformative approach must meet the moment with respect to the unique challenges the new economy brings, while also addressing the limitations of traditional employer-led and government-led approaches. It must also build on growing employer leadership and private and public sector innovations as well as an emerging public private data and technology infrastructure. This new approach must address growing concerns over diversity, equity, and inclusion in the new economy.
Innovating how they manage tuition assistance programs and aligning them with corporate strategy
Providing improved guidance, developing preferred provider partnerships, and providing more incentives for participation especially for low- and moderate-income workers
Implementing new approaches to formal and informal education and training that better integrate work and learning, provide credentials, and utilize new partnerships with both public and private education and training providers
Employers and financial experts also are exploring changes to human resource accounting and financial reporting that can better manage, measure, and report returns on human capital investments
Establishing employer collaboratives that have the potential to aggregate employer purchasing and procurement of talent development services and related financial products and services
“Income share model — that’s about your future. It’s not about your past.”
- Sheila Bair, Director, The Volker Alliance