Raleigh — The Wake County Economic Development (WCED) organization is once again collecting data for its third iteration of its Regional Skills Analysis.

The most recent report, released in 2020, indicated that 57% of businesses surveyed expected to grow in the next three years – a strong showing considering the data was collected amid the early days of the pandemic. According to this year’s census data, optimism was warranted. Microbusinesses – those with less than 9 employees – are up 10% since 2016, and large enterprises with more than 1,000 employees are up nearly 20% in the same period.

Indeed since that report was released, North Carolina has twice been named the number one state for business, according to CNBC. The rankings give NC strong marks in categories for Economy and Tech & Innovation, and ranks the state #1 in “Workforce.”

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Gaining Workforce Insights

Workforce quality is a key indicator for the region’s growth and vitality according to the WCED. The economic development organization and its parent organization, the Raleigh Chamber, are seeking to use the survey data to anticipate developing needs. Adrienne Cole, the Raleigh Chamber President & CEO, shared her thoughts with WRAL TechWire via email.

“We’re fortunate to find our city, and broader region and state, at the top of many rankings like CNBC’s top state for business,” Cole said. “But what we often don’t consider is the intentional work of many organizations and individuals that come together to build this community. We top these lists because we work together to stay ahead of the curve and anticipate the needs of our workforce. The purpose of this study is to better understand the current and future hiring needs of businesses in our community so that we can build a talent pipeline that ensures our region’s vitality. We communicate the results of the study with our training and education partners, as well as policy makers at the state and local levels.”

According to the website, the objectives of the survey include:

  • Understand both short and long-term hiring needs;
  • Inform training and education providers of the current workforce needs;
  • Provide current workforce information for policy makers in workforce, education, and economic development;
  • Develop an effective cradle-to-career talent pipeline strategy; and
  • Create an efficient structure for ongoing industry feedback.

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Past Reports

Among the insights from the 2020 report, businesses showed a shift away from degree requirements. The 2017 report showed 49% of companies preferred 4-year degrees over training certificates and, associates degrees; in the 2020 data that number dropped to 39%.

Businesses have also indicated rising challenges in finding soft skills in employees, reportedly seeking more responsibility, self-discipline, and “the ability to think critically and take initiative.” Soft skills like empathy and acceptance of diversity were also prized in the 2020 data.

Data Collection Details

The Skills Analysis report uses survey data collected from HR professionals, site leads, and business owners across 15 counties. That survey is once again open and those who qualify can complete it online through the deadline of August 11. The survey is being conducted by RTI International and is also running concurrently in the New Hannover County region.

Results from the data are expected in September.