Session Recaps

Measuring and Benchmarking Talent Retention

This breakout session was moderated by Jill Bergman, McKinsey, featuring panelists Ben Christensen, Handshake; Lee Huang, Econsult Solutions Inc.; and Lee Huang, Econsult Solutions Inc.; Josh Wright, EMSI

More than 35 people were in attendance for this breakout session, some standing in the back when the session ran out of seats.

When measuring talent retention, it’s important to keep certain factors in mind. Type of job growth, i.e. high wage, low wage or skills based, and the skills needed for the dominant industries, all impact how retention is measured. It’s also important to understand growth vs. equity in terms of how cities can adopt practices that ensure growth at a level where opportunity is equally distributed.

Key Takeaways

  • Identifying the key industries in your region is important to understand the type of talent your region needs.
  • Make sure workforce development strategies are being driven by the key industry needs.
  • When keeping track of job growth, it’s important to understand what type of job growth your region experiences. Is it skills-based jobs or high-wage jobs?

Audience Q & A

Is the boomerang effect real?

LinkedIn data from Campus Philly’s latest report shows that many people who attended a school in Philadelphia and currently reside here did not live here for a period of time. Thus, the data would suggest that yes, there is a boomerang effect. However, we’re unable to track a person’s history completely through time due to privacy constraints.

What do regions leading talent retention share in common?

Having a large company headquartered in an area, access to expertise, long-term vision for success shared amongst city government, higher ed institutions and employers.