The Regional Stewardship of Talent

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The Regional Stewardship of Talent

• Doug Henton
• Alliance for Regional Stewardship

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Overview

• The Opportunity Regional Stewardship of Talent
• The Approach An Inclusive Framework for Growing
  Innovative Talent
• Sources of Innovative Talent
• The Entrepreneurial Core
• Factors Affecting the Flow of Innovative Talent
• Taking Action

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I. The Opportunity Regional Stewardship of
Talent

• Talent is the most important determinant of
  regional success, yet most regions are fragmented
  in how they think about and build their talent
  base.
• Instead, regional leaders need to act like
  stewards of talent, focusing on the big
  picture, crossing boundaries, and leveraging
  assets to ensure a strong and sustainable flow of
  innovative talent now and in the future.

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What Regional Stewardship of Talent Requires

• Regional stewardship of talent requires an
  inclusive view of the sources of innovative
  talent
• Educational pipeline
• In-migration
• Career transformation
• Specialized talent pools
• Regional stewardship of talent requires special
  attention to the entrepreneurial corethose who
  create enterprises that employ innovative talent.
• Regional stewardship of talent means taking
  action to increase the flow of talent from all
  sources.

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The Approach An Inclusive Frameworkfor Growing
Innovative Talent
Career Transformation
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Educational Pipeline

• The educational pipeline is the primary regional
  resource for developing a new generation of
  homegrown talent. It includes educational
  institutions, at the primary, secondary, and
  higher education levels
• Measures of talent flow from the regional
  educational pipeline include
• Educational attainment
• Educational achievement
• Retention of graduates

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In-Migration

• Skilled people and innovative, growing businesses
  that relocate to the region can improve the
  regional talent base
• Measures of in-migration include
• Flow of talented and creative people and
  businesses into the region
• Educational attainment of domestic and foreign
  in-migrants
• Out-migration of skilled people and innovative
  businesses (brain drain)

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Career Transformation

• Workers who upgrade their skills to make a career
  progression or change can grow the regional
  talent base
• Measures of career transformation include
• Occupational mobility
• Income gains
• Educational gains among mid-career adults

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Specialized Talent Pools

• Specialized talent is a source of regional
  comparative advantage and can be a magnet and
  mentor for growing similar talent. For example,
  specialized talent pools exist at Tinker AFB, the
  Oil and Gas, and Biomedical industries
• Measures of specialized talent pools include
• Concentrations of regional employment in
  highly-skilled and specialized occupations
• Rising wages in growing occupations

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Regional Stewardship of Talent Requires Special
Attention to the Entrepreneurial Core

• At the core of the framework are entrepreneurial
  individuals who create enterprises that employ
  innovative talent
• An expanding core is particularly important to an
  expanding pie of innovative talent
• All quadrants can contribute to the
  entrepreneurial core
• Measures of the entrepreneurial core include
• New business formations
• Gazelle or fast-growth companies
• Signs of entrepreneurial dynamism (patents,
  venture capital, start-up attempts)

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Factors Affecting the Flow of Innovative Talent

• Factors affecting talent coming out of the
  educational pipeline
• Factors affecting in-migration
• Factors affecting talent creation through career
  transformation
• Factors affecting the ability to leverage
  specialized talent pools

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Factors Affecting the Educational Pipeline

• Quality of K-12 Schools
• Community and parental engagement
• Quality and access to regional colleges and
  universities
• Others

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Factors Affecting In-Migration

• Quality of life
• Vitality of business districts, downtowns
• Innovative industry clusters
• Innovation and entrepreneurship
• Dynamism of the business environment
• National and international mobility
• Others

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Factors Affecting Career Transformation

• Quality and access to community colleges and
  other continuing education and training
  institutions and programs
• Quality and access to related support, such as
  child care, transportation, employer-paid
  tuition, etc.
• Internet connectivity and infrastructure to
  access online education and training
• Occupational structure, opportunities for career
  mobility
• Others

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Factors Affecting Impact of Specialized Talent
Pools

• Industry specialization
• Talent utilization (e.g., talent can be
  under-utilized because of retirement or due to
  employer shutdown)
• Inter-generational connections (e.g., mentoring,
  openness to newcomers)
• Inter-regional connections (e.g., national and
  global professional networks)
• Others

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Factors Affecting the Entrepreneurial Core

• Institutions, instructors, mentors, and peers who
  encourage entrepreneurial path for new graduates
  and those in mid-career transition
• Environment open and encouraging of new
  businesses by in-migrants to the region (e.g.,
  access to business networks, financing, support)
• Environment for incubating new ideas and
  start-ups from specialized talent pools

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Taking Action Identify who the key stakeholders
are for taking action to expand talent in all
quadrants
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Taking Action Identify the key indicators for
measuring the expansion talent in all quadrants
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Taking Action Identify the key factors
affecting the expansion talent in all quadrants
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