Companies Can Address Talent Shortages by Partnering With Educators

The U.S. Department of Labor reports that there are presently 6.3 million job openings, which companies are struggling to find the right talent to fill, reports the Harvard Business Review . One approach that has proven to be successful in recent years consists of targeted partnerships between business and education. After assessing their human capital needs and job requirements, companies collaborate with schools to produce workers with the needed skills. AT&T, for instance, has provided $1 million over the last year to fund an online Master's program in analytics at Georgia Tech. Another example is Shire, a biotechnology company with its U.S. headquarters in Lexington, Mass. It has been working with nearby Quincy College for the last several years, providing financial support and donating equipment and supplies.