2019 Innovation Lab Events
July 25, 2019
Hosted by Cargill
Corporations striving to create an integrated, impactful STEM talent strategy often face challenges aligning priorities across functions- including talent acquisition, CSR, IT, and others- as well as across regions. They struggle to agree on focus areas, select partners, plan and execute holistically, and measure progress. This STEM Talent Acquisition & Development Innovation Lab will explore how to create strategies and structures to improve outcomes enterprise-wide.
Why develop a holistic, integrated STEM strategy?
Corporations continue to report challenges in recruiting and retaining skilled and diverse STEM talent in
- The median duration of advertising for a STEM vacancy is more than 2x as long as a non-STEM vacancy and, on average, organizations spend $11,225 per individual to recruit top STEM talent.
- In addition to recruiting challenges, companies face difficulty retaining talent. Within 12 years of working in STEM, only 40% of STEM graduates remain in the field.
- While corporations want to create CSR strategies that will enhance the sustainability and diversity of their talent pipelines, 61% report struggling to know where to invest.
Future STEM workers are leaving STEM talent pathways which in turn increases costs to acquire and retain STEM talent for employers. A holistic, integrated STEM strategy address these challenges, allowing corporations to align all activity across the enterprise- both business and philanthropic- to the common goal of growing the pool of STEM talent and closing their talent gaps.
Innovation Lab Deliverable
In addition to participants gaining actionable ideas from the Lab, the discussion will help inform a deliverable to be released by STEMconnector. The Corporate STEM Strategy Toolkit will include a series of tools corporations can easily use to support strategy development, measurement, and execution across the enterprise.
Innovation Lab Benefits
The Lab will connect STEM corporate executives interested in learning from one another and
focused on improving their STEM talent strategies. Participants of the Lab will gain:
- Strategic positioning as a STEM thought leader by sharing their own successes and challenges in STEM talent strategy, and by contributing to a research deliverable
- Insight about holistic, integrated STEM strategy best practices to implement at their own organizations
- Connections to other leading executives in the field to whom they can turn for future collaboration
Previous Lab Participants
- Base 11
- Burning Glass Technologies
- ISS U.S. National Laboratory
- Credit Suisse
- Dassault Systemes
- JPMorgan Chase & Co
- National Grid
- Prudential Financial
- S&P Global
- Skyline College