When Does It Need to Happen?

We are in a new economy that competes on talent, yet the talent financing and development systems we rely on were built for a different era and economy. The global pandemic has introduced new urgency and risks that require bold thinking and transformational change. In this dynamic economy, skills and job opportunities are constantly changing and new skills and opportunities are emerging. Amid this change, employers, workers, and government face growing risks in achieving a return on investment in skill development and managing short- and long-term risks associated with employment and income. We need a talent finance approach fit for our time, and it is nothing less than an imperative if the United States is to meet the moment and grow its economy, maintain its global competitiveness, and close the opportunity and equity gaps.

We now need to change the incentives for employers and government to work together as part of a new public-private approach to talent development that can scale promising employer, private sector, government, and service provider innovations.