The Ready To Work Business Collaborative LaunchesJanuary 10, 2017
By Beverly Riddick, Executive Director
We are pleased to announce the launch of the Ready To Work Business Collaborative (RTWBC). Corporations representing diverse industries have joined together and launch this non-partisan initiative to help employers achieve their goals by hiring highly capable candidates who may have been inadvertently overlooked in traditional recruitment. Ready to work candidates are the long-term unemployed (those who have been seeking employment for longer than six months), under-employed, veterans and individuals with disabilities, as well as opportunity youth, ages 16 to 24 years.
This initiative responds to a White House call to action in which 350 employers signed on to address the issue of long-term unemployment. These corporations and employers are prepared to improve their recruiting processes to identify and hire pre-evaluated, ready to work talent, deepen their connections with the local community, lower their recruitment costs, and achieve their corporate social responsibility goals.
“The Ready To Work Business Collaborative helps businesses by connecting them with the government agencies and workforce intermediaries that bring qualified and prescreened talent and employers together.”
— Beverly M. Riddick, Executive Director
The Ready To Work Business Collaborative is leading the way for employers to partner with public and nonprofit workforce intermediaries, as well as colleges and universities, by creating best practices for hiring, and also advocating for policies that benefit the long-term-unemployed.
We’ll serve as a convener of best practices, benchmark data and industry insights regarding public/private partnerships, with the goal of increasing the employment of ready to work talent. The first of these quarterly events for employers will be held on March 15, 2017 in New York City.
Research conducted by Deloitte shows that employee groups, such as the long-term unemployed and veterans, have an above-average retention rate compared to other employees in the same industry.
Notably, many companies are unaware that aspects of their hiring practices may present unintended barriers for the long-term unemployed. For example, simple adjustments to advertisements for open positions, such as referring to significant experience with a specific skill, rather than current experience, will expand the candidate pool to include qualified jobseekers who apply for such roles and are not presently employed.
According to research conducted by Deloitte, employers perceive multiple benefits from implementing this skills-based hiring practice:
- 50-70% reduction in time to hire
- 70% reduction in cost to hire
- 50% reduction in time to train
- 22-75% reduction in turnover