ARTRA
Attracting and Retaining Talent to the Rockford Area
About the Attracting & Retaining Talent Steering Committee
Rockford’s Attracting & Retaining Talent Steering Committee is a volunteer group comprised of representatives from the Rockford Chamber of Commerce, Rockford Area Convention & Visitors Bureau, Rockford Area Economic Development Council, Next Rockford, City of Rockford and Winnebago County. The Committee is dedicated to growing Rockford’s population of professionals in their late 20s and 30s by encouraging young professionals that grew up in Rockford, but have since pursued careers elsewhere, to take jobs in the Rockford region and move back to the area.
Why this initiative NOW?
According to Next Generation Consulting’s key findings, three trends are coalescing in the Rockford Region. Taken together, these trends demand a proactive, strategic, and collaborative approach from community and economic development professionals to attract and retain young talent.
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Economic Trends: Rockford’s economy is shifting due to rapid technological change and globalization.
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Demographic Trends: Rockford is losing its share of educated young professionals. in 2005, about 25 percent of the U.S. population held bachelors degrees, compared with 13.1 percent in Rockford. At a time when the economy is demanding higher skills, Rockford cannot afford to lose its young, educated workforce. To make matters worse, broader demographic trends indicate that the race for young talent will become more heated as Baby Boomers retire.
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Psychographic Trends: Psychographics is the study of how people make decisions and has application in Rockford’s future. For the next generation, cities are brands. Which one they choose depends on how well they identify with its brand attributes and characteristics. Three-fourths of college graduates under 28 years old say that where they live is as important - or more important than - where they work.
To view Next Generation Consulting’s complete report, visit http://www.rockfordil.com/