philadelphia's talent dividend

8/2/2019 Philadelphia's Talent Dividend

1/26

CEOs for Cities is a national network of urban

leaders dedicated to building and sustainingthe next generation of great American Cities.


2/26

CEOs for Cities

The Talent Dividend

Sponsored by:


3/26

City Dividends


4/26

National Gains


5/26

Talent


6/26

Talent retention is key.

Quality of place

Quality of opportunity


7/26

The Approach

Cities dier in educational attainment

Dierences reveal opportunities for improvement Improvement gains estimated from evidence

Gains represent potential payback from better

policies


8/26


9/26

The Hypothesis

Better-educated = higher incomes Better-skilled = more innovation and productivity


10/26

The Evidence

Education Explains Most Differences in Metro IncomeAnnual Per Capita Income, 2005

NO

RAL

ROC

SLC

BIR

BUF

OKC

HAR

RIC

LOUMEM

JAC NAS

AUS

MIL

CHA

PRI

VB

IND

COL

LV

SAT

KC

ORL

SACCLE

CIN POR

PIT

DEN

BAL

TPA

STL

SANMIN

SEA

PHO

DET

ATL

MIA

HOU PHI

DAL

CHI

LA

NY

y = 763.27x + 16466

R2

= 0.5846

$30,000

$32,000

$34,000

$36,000

$38,000

$40,000

$42,000

$44,000

$46,000

$48,000

$50,000

15 20 25 30 35 40 45

Percent of Population with a 4-Year College Degree, 2006

Sources: BEA (Income), Census (Education)


11/26

Estimating the Gain

Each 1 percentage point increase associated with

$763 increase in per capita income or about $1,900

to $2,290 per year for average household (2.5-3people)

Important to note: education gains are product of

shift in entire skill distribution - not just moving a

certain number of people from no degree to collegegraduation


12/26

Shifting the Distribution

Dropouts Advanced Degrees


13/26

Educational Attainment

Source: 2006-2008 American Community Survey

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

No.

% of People

Less than High School 12.9% 497,068

High School Only 31.9% 1,229,183

Some College/AA 23.6% 909,364Four-year Degree 31.6% 1,217,623

Less than High School 9.1% 62,921

Four-year Degree 38.7% 267,589

Goal 32.6%

Additional degree holders 38,532

Talent Measures

Educational Attainment (Population 25 and Older)

Educational Attainment of Young Adults (25 to 34)

Talent Dividend


14/26

Why Focus on Educational

Attainment?

Source: Bureau of Labor Statistics, April 2010

Overall 9.9%

Less than High School 14.7%

High School Only 10.6%

Some College/AA 8.3%

Four-year Degree 4.9%

Unemployment by Education Level


15/26

Three-quarters of the workers that were

fired over the last year were let go on a

permanent, not a temporary basis.

-- David Rosenberg, July 2009


16/26

Why Focus on Educational

Attainment?

Source: Bureau of Labor Statistics, First Quarter 2010

Wages by Education Level Weekly Annualized

Less than High School $448 $23,296

High School Only $624 $32,448

Some College/AA $738 $38,376

Four-year Degree $1,140 $59,280


17/26

Data from Public Agenda surveys of US adults from the past decade

Belief in Need for College Degree to Be

Successful Is on the Rise


18/26

Unemployed Americans More Likely to

Feel They Need Degree to Succeed

National survey of 872 likely voters conducted April 17-20, 2010

by Greenberg Quinlan Rosner

Unemployed Employed


19/26

Philadelphia's

Talent Dividend

If we increase Philadelphia's college attainment rate

from 31.6 percent to 32.6 percent (38,532 additional

new grads)

The Philadelphia Talent Dividend =

$4.4 billion annually


20/26

City Dividends

Total City Dividends for Philadelphia

$6.0 Billion Annually

$4.4 billion $464 million1.1 billion


21/26

Talent Dividend Metrics

Moving the needle on any one of these while holding the

others constant will lead to increasing postsecondary

attainment.

Moving the needle on all five will quickly accelerate cities

reaching and surpassing their Talent Dividend goal.

On-time high school graduation rate

College continuation rate

Adult postsecondary participation rate

College completion rate College graduate retention rate


22/26

Who Needs to Participate in

Achieving the Talent DividendColleges & Universities Increase retention and

completion rates, increase enrolled adults, retain

graduates in city

Businesses - Flex time, flex place, classes on

corporate campus, open house on occupations,

accredited corporate education, identify

employees with some college but no completion,

tuition reimbursement

Foundations - Align giving to reach goal, hold

grantees accountable, measure and report results

at key milestones, provide independent

advocates


23/26

K-12 - Increase college-going behavior

Nonprofits - Align programs to reach goal, take

responsibility for results

Government - Flex time, classes in city buildings,

open house on occupations, identify employees

with some college but no completion, tuition

reimbursement

Economic Development - Embed talent

development and retention as a priority in

strategic plan

Who Needs to Participate in

Achieving the Talent Dividend


24/26

Talent Responsibility MapBaseline

Organization

Critical Metrics

On-tim

eHigh

School

Graduates

Coll

egeContinuatio

n

Adult

Posts

econdary

Participatio

n

Coll

egeComple

tion

Organization

City Public Schools

County Public Schools

Private Schools

Community College

Public University X

Private Universities Y

Nonprofit High School Graduation

Access to College

Workforce Development

Foundation

Business

Government

Economic Development

Total BAs produced X+Y

= Primary Organization Net in-migration Z

= Secondary Organization Dying BAs A

Net BAs X+Y+Z-ATD Goal New BAs #

Gap #-Net BAs

K-12

Higher Education


25/26

Imagine developingall of our talent

and putting it all to work.


26/26

www.ceosforcities.org/talentdividendtour

philadelphia's talent dividend

Documents