This document proposes a "New Talent Compact" between employers and employees. It acknowledges the skills gap and lack of education many workers face. The compact has three points: I) employers will provide training for employees' current roles, II) invest in each employee's training equal to the cost of turnover for future roles within or outside the company, and III) provide tools to help employees invest in career development. It provides guidance on implementing the compact, such as understanding employees' education levels, reviewing tuition assistance policies, and ensuring internal job opportunities for skilled workers. The goal is to unlock employees' potential through skills development and build long-term loyalty.

1. A New Talent Compact: Striking a
New Deal With Your Employees

2. The War for Talent Is Over. Talent Won.

3. Now Consider This
6.6
Million
70
Million
65 %
Jobs unfilled in the
US
Individuals in the US
without a high
school diploma or
only some college,
but no degree.
Jobs that will
require some form
of post secondary
education by 2025

4. Did Either Side Really Win?

5. How Might We Forge A
Different Path Forward?

6. The New Talent Compact:
A New Deal for Talent

7. The New Talent Compact
As employers, and in return for agreed upon performance, we will:
I. Provide you with the training to build the skills and knowledge to be
successful in your role.
II. For each year in your role, we will invest in you the cost of turn over for
that role, for the development of your skills for your next role, whether
that role be with us or a future employer.
III. We will provide you with the tools to guide your investment in your skills
to ensure you are developing your skills in towards a meaningful next
step in your employment, whether with us or a future employer.

9. Point I: Training for the Role That You Are In
Move beyond what you are already doing for role based training.
Many individuals in frontline jobs lack the basic skills and
education to advance beyond those roles, this includes basic
numeracy and literacy, fluency in English, and lack of a high school
credential.

11. Point II: Investment in Training For A Future Role
Move away from thinking of turnover as a cost of doing business
and create an employee value proposition worthy of reciprocity.
Investing the cost of turn over into an employees future
development unlocks their potential – and builds a customer for
life for the organization.

13. Point III: Providing Tools to Help Invest in
Development of Skills
Employees need the tools to make sound decisions when
investing in their career development, including:
• Career Advising
• Academic Advising
• Career Pathways

15. Getting Started
• Build your stakeholder team. This approach requires input from L&D, Talent
Acquisition, Benefits, Payroll, and HR to name a few.
• Know your employees and their educational backgrounds. Talent
Acquisition is a good place to start. Do an educational attainment survey.
• Review your educational assistance policy. It has likely not been reviewed in
a number of years and likely does not meet the needs of all of your
employees.

16. Getting Started
• Move beyond the discounts. Do not allow your employees to
spend development dollars with institutions that are not valued in
your talent acquisition process.
• Examine your internal talent acquisition process. Ensure that
employees who are developing their skills and want to advance
with the organization are guaranteed an interview any time they
post.

18. What to talk more about this topic?
Reach out to me to have a discussion about
this topic!
Sean Stowers
@seanstowers
https://www.linkedin.com/in/seankstowers/
Article in Training Industry Magazine:
http://www.nxtbook.com/nxtbooks/trainingind
ustry/tiq_20180910/index.php?startid=45