Workforce Development Panel Explores Trends Impacting Talent Retention and Recruitment in Oklahoma City

In a recent afternoon panel discussion hosted by HoganTaylor, experts gathered to discuss the critical issues of talent retention and recruitment and explore the innovative strategies companies can implement to address these issues. The conversation, moderated by Kim Wilmes, Vice President of Talent & Economic Development at the Greater Oklahoma City Chamber, featured insights from Kelly Kay, President & CEO of the YMCA of Greater Oklahoma City; Shane Phillips, Senior Manager of Strategic Partnerships & Workforce Development at Work Ready Oklahoma; David Emerick, Executive Director of State and Local Government Relations at JPMorgan Chase; and Bryce Murray, HoganTaylor Talent Principal at HoganTaylor.

Factors Contributing to Employee Turnover and Organizational Adjustments

The discussion began with a focus on the factors that contribute to turnover within organizations and the adjustments employers can make to retain talent. Bryce Murray stressed that younger employees have a lot more options than they’ve ever had before.

“At the end of the day, I think what a lot of folks on that side of the labor force are looking for are opportunities to fully self-actualize in their professional environment. And I think looking for opportunities to really feel recognized for the talent they bring and because they have so many more options than they’ve had before, they’re willing to walk away.” – Bryce Murray

In addition to employee recognition, David Emerick added that they notice many employers leaving because a certain “box” wasn’t checked.

“It’s incredibly, incredibly competitive environment in Oklahoma City right now and in Oklahoma in general from a cost perspective…a lot of it’s going to be really what the benefits are and how they can get from one company to another because they’re shopping not just benefits but pay.” – David Emerick

Accessible Childcare Considered Critical Factor in Talent Retention

The panel then shifted to the significant role that childcare plays in talent retention. As President & CEO of The YMCA of Greater Oklahoma City, and one of the largest childcare providers for school-aged children, Kelly, was asked why childcare impacts talent retention so much.

“From an employer standpoint, what we heard a lot through focus groups and partnerships that were developing through the Y is just a real struggle getting young parents into the workforce because of that shortage of childcare, or getting parents back, getting their workforce back to work at the office where they can be together and productive, especially in these jobs that require the group work and teamwork together.” – Kelly Kay

Kelly disclosed a recent study found the average cost for one infant in full-day childcare was around $11,000, causing a lot of parents with multiple children to question if it makes sense for both of them to work. However, Kelly said it is important to know as a charitable nonprofit provider these programs cost a lot to maintain.

"I think the stat was in the study that there are two children for every licensed space available. So we are truly in a childcare desert...We had 29 summer day camps with about 2,700 kids, but that could have been 40% more had we been able to hire all of the 18,19,20,21,22-year-olds. And we have a thousand employees under the age of 22, but we need about 1,500.” – Kelly Kay

Multiple panelists brought up the idea of offering childcare as a standard benefit, adding it could change the way the workforce and future talent look at the jobs available for hiring.

Challenges in Recruiting Talent

Recruiting new talent poses its own set of challenges. Bryce Murray brought attention the reservation among more seasoned talent to relocate for job opportunities. He noted that older workers often have established lives and families, making them less willing to move for a job, even if it offers better prospects.

“So the idea of moving a family to take a new job is kind of feeling old fashioned for a lot of those folks these days. Many of them are open to hopping on a plane. But I would say more and more folks are saying, look, I don’t need to make that move to earn that living that I can make where I am today.” - Bryce Murray

Although relocation poses a challenge to many, Shane Phillips pointed out that Oklahoma City has a lot of positives in its favor.

“We have great organizations, our infrastructure’s improving every day…we need to echo that it’s a great place to live, work and play. And I think more people will reciprocate that.” -Shane Phillips

The Role of Nonprofits in Advocating for Sustainable Employment

Another contributing factor towards talent retention and recruitment is the candidate pool. Kim Wilmes pointed out that although Oklahoma City’s unemployment rate is 3%, the labor force participation rate is 65%. This means there are 35% who are within working age, wanting to work, who are not employed. This brings up an opportunity for nonprofits to advocate for sustainable employment.

Shane Phillips says one way they do this is by understanding the needs of employers and the industry so they can take back the focus on what they can bring from the families they serve.

“I work specifically with organizations to try and find new talent and people that would be a good fit for the organization. So we work really hard to build relationships and get to know the organizations we deal with and understand their expectations. But then we also really work hard to work with the talent that we serve to help them upskill.” – Shane Phillips

In addition to helping employees find a job that is a good fit, Shane pointed out there are dozens of quality candidates who may not be considered due their circumstances.

“We talk a lot of second chance employment…so that 35% is people in prison, it’s parents that can’t find childcare. It’s people that can only get one way on a bus trip and can’t be able to make the shift home. It’s folks that may not have a skill or GED and we wouldn’t consider hiring them because we have some kind of issue in our practice that would keep em’ from that. So I think that it’s on the employers to broaden that up so they can actually capture the people that are remaining that are not actively or fully employed.” – Shane Phillips

David Emerick shared that in the past few years, 10% of their new hires have a criminal record of some kind or have been arrested but never convicted. After the CEO of their company met a couple of young men catering an event, he learned they had all been impacted by the justice system. Due to this encounter, he helped his organization become a second-chance employer.

“Generally, the story is they were stupid, they were young, they did something once, they haven’t been convicted since or they haven’t had their issues. Probably 90% of the cases can move forward with that hire. And we’re not talking about a menial job where they’re mopping floors or working in a kitchen or janitorial position…These are good jobs. They have opportunity for progression and promotion with benefits.” – David Emerick

Following this change at their company, David continued on to help work on the Clean Slate Legislation, allowing someone’s record to be sealed after a certain period of time. Once their record is sealed, they are no longer required to disclose the information on a job application.

Conclusion

The panel discussion underscored the importance of addressing various factors that influence talent retention and recruitment. From providing adequate childcare options and engaging younger workers to leveraging the experience of older employees and supporting underrepresented talent pools, organizations must adopt a multifaceted approach to workforce development. By collaborating with educational institutions, community organizations, and nonprofits, companies can create sustainable employment opportunities that promote economic mobility and meet the demands of today’s labor market.

Are you interested in elevating your organization's talent acquisition and development? Talk to a member of the HoganTaylor Talent team today.

Additional comments were made about talent retention and recruitment during a Q&A with the audience. A full transcript of the afternoon panel is available below.