Executive Director Deb Broberg of RealTime Talent researches and helps Minnesota employers, educators and nonprofit trainers align workforce needs with the emerging workforce in an economy that threatens to fall short of its potential for lack of workers within a few years. Broberg was a veteran operations and human resource executive at Northwest Airlines and Wells Fargo, and had her own HR business, before joining RealTime Talent, a public-private collaboration. This conversation was edited from written remarks and an interview.
Q: What is the purpose of RealTime Talent?
A: RealTime Talent helps create more informed, market-oriented decisions throughout the Minnesota workforce and education ecosystem to ensure the state's economy has the talent it needs to help Minnesotans prepare for successful, well-paying careers.
Q: What is the challenge, given baby boomers aging out of the workforce, of producing enough trained and trainable workers to fill the job openings today and over the next decade?
A: Over the next few years, Minnesota's population will grow at about one-fourth the rate it grew in the 1990s. By the year 2022 the state of Minnesota faces a 239,000-worker shortage — impacting all industries. We have employers struggling to fill jobs and people who want to work. We lack alignment.
This will further exacerbate the challenges employers have in filling job vacancies. For example, we estimate that by next year there will be a shortage of at least 62,250 workers in the seven-county metro. RTT has analyzed the workforce needs of six high-demand industry sectors with career paths that lead toward high-paying jobs. Each have occupations that [lack] enough supply coming from education and training programs. Jobs such as developers, registered nurses, welders, engineers and mechanics represent a few … that employers have identified as critical to sustain and grow the state's economy.
Q: We have one of the widest education, employment and income gaps in the country between whites and minorities. What is the challenge and opportunity?
A: Racial inequities must be addressed to solve the demand for workers and provide economic stability for all people. It is not just a moral imperative, but an economic one. Currently, about 20 percent of people in our state are racial or ethnic minorities, compared to 25 percent by 2035. If we are successful in eliminating labor-force participation and employment disparities by race and ethnicity by 2022, we could add about 57,000 additional workers to Minnesota companies beyond what we would expect under our current conditions, closing about 24 percent of our estimated talent shortage.