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1851. A More Inclusive Approach to Venture Capital: Action Steps for Venture Capitalists, Ecosystem Builders, and Philanthropies

Author:
Aspen Institute
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
On February 22, 2018, the Aspen Institute Center for Urban Innovation hosted “A More Inclusive Approach to Venture Capital,” a day-long convening of fund managers, angel investors, entrepreneurial support organization leaders, and philanthropic funders to discuss strategies to make venture capital more inclusive for people of color and for women. The convening included off-the-record conversations about how venture funds dedicated to supporting women and people of color can be smarter about measuring and bolstering their investment returns, and how the venture capital system can be more inclusive and accessible to a wide range of founders. Participants also met in small breakout groups to identify pressing next steps. The guide is a summary of what the breakout groups identified as priorities for specific actors in the venture ecosystem.
Topic:
Environment, Capitalism, Venture Capital, and Philanthropy
Political Geography:
Global Focus

1852. Digital Transformation

Author:
Aspen Institute
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The digitalization of the U.S. economy will transform the products businesses sell and the ways they can interact with customers. Thank you for registering to download our white paper on the changing U.S. economy.
Topic:
Digital Economy, Economy, Business, and Digitalization
Political Geography:
United States and North America

1853. BEST Corp: Quality Training for Quality Jobs

Author:
Jenny Weissbourd
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Hospitality ranks among America’s fastest-growing sectors, but millions of hotel workers are not reaping the rewards. Boston Education, Skills & Training (BEST) Corp. is solving this problem by providing best-in-class training that prepares workers to excel and engages hotels in discussions about the value of training. BEST was founded in 2004 as a nonprofit workforce development program focused on helping individuals develop skills and find good jobs in Boston’s hospitality industry. BEST serves nearly 500 job seekers and hotel workers each year, with training in English, computer skills, culinary skills, and industry-specific certifications like food safety. Through career coaching BEST helps participants secure quality jobs and provides hotels with the skilled talent to thrive in an increasingly competitive industry. As the third prong of a productive labor-management partnership, BEST works closely with Local 26, the hospitality worker’s union, and its high road hotel employers. These 35 hotels pay a starting hourly wage as high as $21.43 to BEST graduates, and provide a generous benefits package, which includes career advancement training through BEST. BEST’s model programs benefit workers, hotels, and Boston’s regional economy by placing engaged employees in stable jobs. BEST reaches the working poor – particularly immigrants and people of color – and provides them with the opportunity to obtain a quality job and enter the middle class. Hotel partners report that BEST-trained workers bring the critical thinking skills and cultural competency to perform better with decreased turnover, contributing to stronger financial performance. The Aspen Institute’s interview with Alex Pratt, Area Director of Human Resources at Omni Hotels & Resorts, speaks to BEST’s vital role in preparing top talent and enabling operational excellence.
Topic:
Training, Job Creation, Labor Market, and Hospitality
Political Geography:
United States of America and North America

1854. Competing on Service: The Case for Good Jobs at the Omni Hotel

Author:
Jenny Weissbourd
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
In Boston’s increasingly competitive hotel industry, what does it take to stay on top? The Omni Parker House, America’s longest continuously operating hotel – and proud originator of the Boston cream pie – earns its four-star Trip Advisor rating by investing in its most important asset: its people. The first step is meeting basic employee needs through generous wages and full benefits. But the key to the Omni’s exceptional customer service lies in recruitment, training, and performance management systems that empower frontline staff to make decisions, solve problems, and advance to management roles. The Aspen Institute recently spoke with Alex Pratt, Area Director of Human Resources at Omni Hotels & Resorts, a chain of 53 hotels that includes Boston’s Omni Parker House. Alex brings more than 25 years of experience in hospitality, and has achieved industry-leading retention and high employee satisfaction at the Parker House. Alex is quick to credit partners for the Parker House’s success. He works closely with Local 26, the hospitality worker’s union, and with Boston Education, Skills & Training (BEST) Corp, a model workforce training organization also profiled by the Aspen Institute. BEST provides high road hotels like the Omni with skilled talent. BEST graduates excel in quality jobs where they have the autonomy to shine. In 2021, the Omni will open its second Boston hotel, a 1,054-room property in the Seaport district. One secret to winning the city’s competitive bidding process was a first-of-its kind proposal for an onsite BEST training center where current and prospective employees will develop exceptional hospitality skills. We spoke with Alex to learn more about how the Omni’s innovative people practices and partnerships are delivering winning outcomes for frontline workers, guests, and the hotel’s bottom line.
Topic:
Employment, Job Creation, Labor Market, Hospitality, and Customer Service
Political Geography:
United States of America, North America, Boston, and Massachusetts

1855. Worker Training Tax Credit: Promoting Employer Investments in the Workforce

Author:
Alastair Fitzpayne and Ethan Pollack
Publication Date:
08-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Rapid advances in technology, including artificial intelligence and automation, are transforming industries and reshaping the skills necessary to secure and keep a job. In response, U.S. workers will need to acquire skills that are not easily automated or that complement ever-changing technology. Yet, data suggest an alarming trend: there is a steady decline in the amount employers are investing in their workforce.[1] Federal and state policymakers should consider using tax incentives to encourage additional workforce training investments. To accomplish this, in May 2017 the Future of Work Initiative proposed the Worker Training Tax Credit. Modeled on the popular Research and Development (R&D) Tax Credit, this new tax credit could be used by small and large businesses to invest in training for their low- and middle-income workers. Based on economic modeling recently conducted by District Economics Group, the Worker Training Tax Credit would cost roughly $146.5 million over ten years, and lead businesses to increase training investments by 8.5 percent. Because the tax credit excludes training provided to high-income workers, these induced training investments would provide greater opportunity to low- and middle-income workers.
Topic:
Science and Technology, Employment, Tax Systems, Artificial Intelligence, and Skilled Labor
Political Geography:
North America and United States of America

1856. Untangling the Power Cords

Author:
Michael Leifman
Publication Date:
08-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The US electricity sector is in the midst of several transformations. These transformations are intertwined, with policy innovation and technological innovation reinforcing each other. Some transformations are coincident and proceeding rapidly, such as the decreasing importance of coal in the overall fuel mix and the increasing importance of natural gas and renewables, while other transformations are happening independently and at different speeds, such as the diffusion of electric vehicles and the financial woes of the nuclear industry. Though the US power system’s regulatory structure has always been fragmented, the current plethora of state initiatives has further complicated the landscape. These transformations and complexities are so wide-ranging that it has become difficult for non-experts to grasp their full breadth, let alone their depth and nuance. An observer might see a web of tangled cords, each running into each other. This multi-part series is to provide a common understanding of, and common language for, the most important transformations currently underway in US electricity markets, and to distill them to their essence. We hope to untangle the multiple “power cords” and enable a clearer conversation about where our power system is headed.
Topic:
Energy Policy, Natural Resources, Electricity, and Renewable Energy
Political Geography:
North America and United States of America

1857. White Paper: Achieving Latino Mobility

Author:
Scott Astrada and Gwyn Hicks
Publication Date:
10-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
With the future of the United States directly tied to the economic well-being of nearly one-fifth of the population-Latino Americans-we all have a stake in ensuring their success and that every American has equal access to opportunity, regardless of race, skin color, economic status, address, or educational attainment. The ideas presented in this white paper come from discussions that took place at the 2018 America’s Future Summit: Unlocking Potential, Advancing Prosperity, on and off the stage, and as such represent the perspectives of informed speakers and participants.
Topic:
Economics, Race, Minorities, and Latino Issues
Political Geography:
North America and United States of America

1858. Principles for Growing and Sustaining the Nation’s Cybersecurity Workforce

Author:
Aspen Cybersecurity Group
Publication Date:
11-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The U.S. currently has a cyber workforce shortage of 300,000 individuals and the trend line predicts an increasing gap. This is largely because demand is significantly outpacing supply, large candidate pools are left untapped, employer requirements aren’t well sync’d to the skills needed, and awareness of cyber career paths remains low. After months studying the challenge, the Aspen Cybersecurity Group offers a mix of principles, partnerships, and specific steps employers can take to close the skills gap.
Topic:
National Security, Cybersecurity, Work Culture, and Skilled Labor
Political Geography:
United States of America and North America

1859. Reaching Watershed Scale Through Cooperation and Integration: A Report from the 2018 Aspen-Nicholas Water Forum

Author:
Aspen Institute
Publication Date:
11-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The annual Aspen-Nicholas Water Forum, a collaborative initiative between the Aspen Institute Energy and Environment Program and the Nicholas Institute for Environmental Policy Solutions at Duke University, serves as a platform for addressing domestic water challenges in the 21st century. Each year, the forum gathers ~50 participants—including thought leaders from the private sector, government, academia, and non-governmental organizations— representing expertise in industry, finance, philanthropy, government, academia, agriculture, food and technology companies, investors and entrepreneurs. The 2018 Aspen-Nicholas Water Forum explored opportunities to change the scale of water management through regional integration.The scale of water challenges of the 21st century is regional and encompasses multiple jurisdictions — whether depletion of multi-state aquifers, basin-scale flooding, or the wide-spread accumulation of nutrients leading to large estuarine dead zones. Yet decisions, practices, and policies are predominantly made at the local scale and are often sector specific, creating mismatches between problems and policy. Regional scale problems often require regional scale solutions, so how do we reach scale?
Topic:
Environment, Water, Private Sector, and Public Service
Political Geography:
North America and United States of America

1860. Chicago’s Fresh Approach to Incumbent Worker Training

Author:
Amanda Newman and Jenny Weissbourd
Publication Date:
11-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
In recent years, the United States grocery industry has become increasingly competitive and experienced unprecedented consolidation. In Chicago, 25 stores closed between 2015 and 2017 — bringing the total number of stores down to its lowest number since 2009. Independent, privately owned food retailers rate competition as their highest concern, followed by worries about hiring and retention. In 2017, sales declined for half of the nation’s independent grocers. Pete’s Fresh Market (Pete’s) offers a notable exception. Launched in the early 1970s as a small, full-service produce stand on the South Side of Chicago, today Pete’s has 13 stores in the city and plans to open five more in the next few years. This family-owned grocer recognizes what it takes to succeed in a rapidly changing industry. One key to Pete’s growth strategy is its partnership with Instituto del Progreso Latino (Instituto), a nonprofit organization committed to the fullest development of Latino immigrants and their families through education, training, and employment. Reimagine Retail, an initiative of the Aspen Institute Economic Opportunities Program funded by the Walmart Foundation, explores ways to enhance job quality and improve mobility for the retail workforce. In Chicago, we partner with a collaborative of workforce organizations, including Instituto, that is testing approaches to advance and retain workers in the retail sector. We caught up with Alita Bezanis, director of organizational development at Pete’s, and Yesenia Cervantes, dean of student services and community affairs at Instituto, who were eager to share how the partnership supports growth for Pete’s — and for Pete’s workers.
Topic:
Labor Issues, Employment, Training, and Skilled Labor
Political Geography:
North America, Chicago, Illinois, and United States of America