Dream2Career, LLC developed the Horizontal Industry Framework (HIF) to serve as a common language, like STEM, between workforce and education. The HIF is fundamental to our strategy development and it simplifies the structure so users can find their career signals and feel a sense of belonging in the workplace.
This video was produced by WVIA and first appeared as part of the Keystone Edition – Business broadcast on January 14, 2021.
Dr. Kathleen Houlihan explains the Horizontal Industry Framework
Why developing a Learning and Development (L&D) Strategy makes a difference:
- Companies that provide employee training receive 218% greater revenue from employees who participate and company profits are 24% higher compared to those that save on training (Association for Talent Development, 2000).
- Less than 10% of workers at companies that offer tuition reimbursement use the benefit (The Wall Street Journal, 2018).
- Often, frontline workers are not tech savvy and lack the personal motivation to go to school.
- Recruitment and retention, during the Great Resignation, is going to challenge businesses. (NBC News, 2021).
- There is a mismatch between employers in-demand skills and the availability of workers skilled to fill those positions (Harvard Business School, 2015).
Why On-Site Cohort Model Works:
- More employees will use Educational Reimbursement Program (ERP) if the courses are offered onsite, with their colleagues directly following the end of their shift.
- Offering a site-based cohort program, with on-site tutoring and support, will improve retention and student completion rates.
- 88% of Gen Z workers say they are more likely to recommend their employer because of its education benefits (Brighthorizons, 2019).
- Allowing employers to use their current employees to train and fill high need positions will help businesses to compete in global markets and it will raise the standard of living for their employees.
- A two-year study showed that education reimbursement programs have a 129% return on investment, that means for every dollar the company invests it generates an additional $1.29 (Lumina Foundation, 2015)