Who Are the Players?
In order to transform the way we finance and invest in talent, we first need to understand who finances what for whom and how all of the involved parties are positioned in relation to one another. Knowing who the key players are within the talent finance ecosystem and how they have traditionally worked together will drive us to innovate the ways we utilize both existing cross-sector collaborations and potential new relationships.
Issuers and Financing Partners
There Are Six Major Types of Public and Private Issuers of Financing
Government agencies (including federal, state, and local governments), military, and quasi-government organizations
Learners and workers themselves
Employers, employer collaboratives, and related business associations
Employment, education, training, and social service providers
Professional associations, unions, and other worker organizations
Other private sector funders and investors
These instruments may involve other secondary issuers or financing partners who jointly issue, provide capital, or make contributions.
Recipients and Beneficiaries
There Are Three Major Types of Recipients
Service providers to employers and workers
Employers and employer collaboratives
Workers and learners
The benefits of investing in talent development mechanisms reach far beyond the direct recipients of the financial contribution.
Such investments have the potential to generate profound returns and shared value throughout the ecosystem as a whole.
For all types of recipients, there are other direct and indirect beneficiaries beyond the recipients.
One example is issuers providing grants to service providers to finance support services for workers that will result in benefits to governments, employers, and workers.
Example service providers include: public and private universities and community and technical colleges; community-based nonprofit organizations; staffing organizations; professional services companies; other education, training, and credentialing organizations; employer benefit providers (e.g., tuition assistance program managers); industry and business organizations; unions and related worker organizations; government agencies
Employer Training Investments
for tuition reimbursement
for formal education and training
for informal training
Source: “College Is Just the Beginning: Employers’ Role in the $1.1 Trillion Postsecondary Education and Training System.” Georgetown University Center for Education and the Workforce, 2015