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Fed Talk: Evolving to Win Workers: Talent Attraction and Retention of Lower-wage and Noncollege Workers Today
May 25, 2023 @ 10:00 am – 11:00 am EDT
There are no quick fixes or one-size-fits-all solutions to the post-pandemic hiring and retention challenges reported by employers, particularly among lower wage workers or workers without a 4-year college degree. Learn about new research from the Federal Reserve Bank of Philadelphia on employers’ hiring and retention strategies before and after the pandemic, specifically focused on manufacturing and leisure/hospitality firms in the Northeast (PA, NJ and DE). Then hear about local research conducted with firms and workers in Northeast Ohio, and initiatives designed to strengthen the connection between lower wage workers and good jobs far into the future. Panelists will discuss:
- What strategies such as greater flexibility or higher pay have employers tried and which have proven most effective?
- How might firms’ experience in Ohio differ from the Northeast or other regions of the U.S.? Are there observable differences by employer size or industry?
- What strategies seem to have the greatest staying power as the economic environment shifts?
Following the discussion, panelists will take audience questions.
Panelist
Keith Wardrip, Senior Community Development Research Manager and Advisor, Federal Reserve Bank of Philadelphia – Hiring and Retaining Lower-Wage and Noncollege Workers During the Pandemic
Bishara Addison, Director, Job Preparation, Fund for Our Economic Future – Strengthening Workplaces
Michael Baston, President, Cuyahoga County Community College
Moderator
Emily Garr Pacetti, Vice President and Community Affairs Officer, Federal Reserve Bank of Cleveland