Press release from Business Wire
Employers Can Create America's Learning Future: Business Leaders Must Act Now on Workforce Development
<p class='bwalignc'> <i><b>Apollo Education Group CEO Greg Cappelli Makes Case for Business Learning Solutions</b></i> </p>
Tuesday, June 17, 2014
Employers Can Create America's Learning Future: Business Leaders Must Act Now on Workforce Development07:00 EDT Tuesday, June 17, 2014
PHOENIX (Business Wire) -- Apollo Education Group, Inc., (NASDAQ:APOL) today released the latest installment of a written series on the American skills and workforce shortage by CEO Greg Cappelli. The release of the report – “Creating the Future American Workforce; Investments and Innovation in Human Capital” – coincides with Cappelli participating on an Aspen Institute panel addressing what the U.S. can adopt from other countries' successful workforce training models in narrowing the skills gap.
“By taking action and starting now, U.S. business leaders can begin to significantly close the nation's skills gap within a year,” said Cappelli. “Employers have too often treated workforce development as a matter of compliance or a ‘nice to have' investment rather than a core strategy. If company leaders collectively take important first steps to invest in upskilling the American workforce, the potential for short-term progress is staggering.”
The report's call to action advances the current debate around America's skills gap by focusing specifically on the role of corporate leadership in addressing the crisis of the country's workforce falling behind in education attainment. While many experts have focused on the importance of educational institutions and policymakers in tackling the issue, CEOs must take a greater leadership role.
According to the Georgetown Center on Education and the Workforce, 80 percent of middle skills jobs require one year of training or less and nearly 44 percent of middle skills jobs require less than three months of training. The report argues that businesses and institutions of higher education must work together to reclaim 100 million missing years of education among American workers.
The actionable plan outlined in the report
- calls on senior executives at American companies to reexamine the notion of workforce development, reinventing how they invest hundreds of billions of dollars in their workers' education;
- outlines immediate solutions to the skills shortfall through a new integration of education and real work requirements;
- drives for the creation of a new generation of C-Suite leadership around skills development;
- models potential returns of capital investments by corporations in skills development; and
- presents a series of technology and talent best practices that can guide corporate action in this area.
“We often talk about the nation's skills shortage as though it were a public policy problem,” said Cappelli. “It is, of course, but first and foremost it's a challenge for CEOs to realize that allowing a persistent skills shortage to continue is no less serious than any other aspect of corporate strategy.”
The full report and accompanying video can be found at www.apollo.edu/workforce.
About Apollo Education Group, Inc.
Apollo Education Group, Inc. is one of the world's largest private education providers and has been in the education business since 1973. Through its subsidiaries: University of Phoenix, Apollo Global, Institute for Professional Development, Western International University and College for Financial Planning, Apollo Education Group offers innovative and distinctive educational programs and services, online and on-campus, at the undergraduate, masters and doctoral levels. Its educational programs and services are offered throughout the United States and in Asia, Africa, Australia, Latin America and Europe, as well as online throughout the world. For more information about Apollo Education Group, Inc. and its subsidiaries, call (800) 990-APOL or visit www.apollo.edu.
Apollo Education Group, Inc.
Investor Relations Contacts:
Beth Coronelli, 312-660-2059
Erin Kelly, 602-557-3830
Ryan Rauzon, 916-599-2911