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JPMorgan Chase & Co. today announced a more than $8.6
million commitment to help fill well-paying U.S. healthcare jobs by
providing job seekers with critical skills that are in high demand
but currently hard to find. As part of the firm's $325 million
global investment in skills development, this nationwide effort
will provide lower-income Americans with the economic mobility to
move into the middle class while helping healthcare organizations
to better serve the increasing number of Americans seeking
healthcare services.
"Through conversations with clients and partners, JPMorgan Chase
has a unique vantage point for understanding how to address
challenges healthcare organizations are facing when trying to find
skilled workers and better serve patients," said Chauncy Lennon,
Head of Workforce Initiatives, JPMorgan Chase. "By investing in
skills training solutions to fill well-paying, high-demand
healthcare jobs, we're not just providing individuals with economic
opportunity, but helping to improve entire communities and the U.S.
economy."
Health care is the fastest-growing industry, nationally, with
employment estimated to grow by 19 percent from 2014 to 2024,
adding 2.3 million new jobs. But many of these jobs are expected to
go unfilled unless job seekers have certain skills. The increased
need for skills-driven healthcare jobs can be attributed to various
factors including an aging population, including over 44 million
Baby Boomers that will rely more heavily on health care services as
well as a shift in how healthcare is provided from curative to
preventative care. Rapidly changing technology has also required
job seekers to secure necessary training to help them secure middle
skill jobs-those that require more education and training than a
high school diploma but less than a four-year college degree.
JPMorgan Chase aims to giving more workers, including
lower-income people who are underemployed, a chance at good,
well-paying careers by providing the necessary capital and
technical support to local community colleges, training partners
and research organizations that are doing innovative work to fill
these vital middle skill jobs. Specifically, JPMorgan Chase's
grants will include three areas of focus:
-- Collaborative Partnerships in Training and Workforce Alignment:
Training workers for advancement is one way health care
employers
create middle skill pipelines so the firm has partnered with
innovative organizations to build career pathways for in-demand
jobs
to better prepare the workforce through comprehensive
training
programs.
-- Apprenticeships: Combining paid on-the-job training with
classroom-based learning leads to better employment outcomes
for
individuals and helps employers build a pipeline of skilled
talent.
JPMorgan Chase is supporting innovative partnerships that
are
developing promising new apprenticeship models in some of the
highest
demand healthcare occupations.
-- Data-Driven Hiring Solutions: Using accurate and timely
data-driven research can help the private sector, academic,
and
philanthropic communities to better understand the barriers
that
employers and job seekers face. Better data will lead to
better
long-term outcomes for individuals and the widespread economy.
For
example, recent JPMorgan Chase reports found that Chicago and
Detroit
have about 14,500 and 2,600 annual middle skill healthcare
jobs,
respectively that need to be filled. Each city has expressed
concern
about finding qualified, trained workers for these
well-paying
positions.
Middle skill jobs provide higher wages and can set workers on a
career pathway while improving job security and satisfaction. The
increased demand for health care services, changes to the structure
of health care delivery, and efforts to control costs affect
employment in the health care workforce at all skill levels. These
trends suggest healthcare is a promising sector for initiatives
focused on developing a strong pipeline to move lower-skilled
workers into middle skill jobs.
JPMorgan Chase's new multimillion dollar commitment to
strengthening the healthcare workforce will support the following
organizations and efforts:
-- Multiple Chicago area workforce grants (Chicago, Illinois) -
$1,050,000. Four area healthcare organizations received new
funding from JPMorgan Chase including Ann & Robert H. Lurie
Children's
Hospital of Chicago ($300,000), Rush University Medical Center
($100,000),
Instituto Del Progreso Latino ($250,000), and One Million
Degrees ($400,000). These investments focus on addressing
the
middle-skills employment gap in Chicago's healthcare sector
by
partnering with various groups to recruit and train
individuals
interested in high-demand healthcare careers. This builds on the
work
already being done by the Advocate Charitable Foundation to
provide access for under-employed workers to clinical,
work-based
learning, and paid internships at Advocate sites across the
Chicago
metro area, positioning graduates into higher-paying jobs with
longer
term career paths within the healthcare industry. The
Advocate's
second class graduates on April 20 of this year.
"We partner with middle and high schools from low and
middle-income neighborhoods in order to prepare students from those
neighborhoods for jobs in medicine, nursing, Medical Assistant and
Medical Coding," said Maria Rivera, Director of Workforce Programs,
Lurie Children's. "This year we forged a new partnership with
Malcolm X College as well to provide clinical experience to nursing
students. As the healthcare industry grows in Chicago, programs
like this one help us make sure jobs are filled and staff is
properly trained to deliver high quality care. Thanks to JPMorgan
Chase for helping make this possible."
-- H-CAP (Washington, DC) - $1,000,000. H-CAP is a national
labor/management organization of SEIU union locals and
healthcare
employers who are partnering to develop national standards
and
guidelines for Registered Apprenticeships (RA) by coordinating
across
regions with key groups to convene a national conversation and
opening
the door to this model in licensed healthcare occupations.
Working
with union and employer partners, the group works to meet the
needs in
current and emerging healthcare occupations by sharing best
practices
in workforce development and planning, aligning healthcare
professional education with industry needs, addressing changes
in
healthcare technology, and developing programs that combine
career
advancement with quality outcomes. Specifically, the group aims
to
implement RA programs in at least five states (CA, CT, MA, NY,
and PA)
for Advanced Homecare Workers, Behavioral, Health
Workers/Technicians,
Community Health Workers, and Medical Coding.
"With help from JPMorgan Chase we are working to transform
healthcare workforce education policies to better assist in
providing quality care, developing talent solutions for employers,
and creating pathways for employees to learn the critical thinking
skills they need in a dynamic and changing industry," said Daniel
Bustillo, Director, H-CAP. "We will promote innovation and quality
in the healthcare workforce by fostering the development of
national industry standards for healthcare apprenticeships."
-- Northwell Health (New York City, NY) $750,000. Northwell Health
is the largest clinically-integrated healthcare network in New
York
State, with 21 hospitals, a patient base of eight million and
has made
a commitment to providing continuous learning opportunities for
staff
to acquire the knowledge and skills they need to support
their
strategic and patient care goals. To address the need for middle
skill
employees and the related necessity for residents of
lower-income
communities to find pathways to economic security, Northwell
developed
a pilot program to train and teach community healthcare
workers,
outreach associates and health coaches. The program provides
community
members with entry-level job opportunities with clear pathways
for
upward mobility. This pilot tests a new model for job training,
one
that is ultimately sustainable and a model for healthcare
worker
training and advancement on a larger scale.
"Our collaboration with JPMorgan Chase helps us fulfill our
mission of improving the health of the communities by building a
stronger economic future for individuals and their families through
long-term employment in New York's healthcare industry," said
Michael J. Dowling, President and CEO, Northwell Health. "Through
this new training and teaching model, we will be able to prepare
the health care workforce of tomorrow, offering solid career
opportunities in one of the country's most rapidly evolving
industries."
-- Seton Healthcare Family (Seton) (Austin, Texas) - $730,000. Seton
is part of Ascension, the largest nonprofit health system in the
U.S.
and the world's largest Catholic health system. The largest
private
healthcare employer in Central Texas with approximately
12,500
employees, Seton is working to support the development of an
employment pipeline for lower-income Greater Austin
community
residents, to build a pilot initiative to create career
pathways
within Seton for current frontline healthcare workers, and to
create
the internal and external capacity for developing a
long-term
strategic focus on workforce development.
"Seton will use this generous funding from JPMorgan Chase to
develop creative ways to prepare people for high-demand health care
careers specific to our community," said Jesus Garza, President and
CEO, Seton. "Rapid population growth makes it imperative to build
the local health care workforce, and create pathways for career
advancement to ensure we're able to retain workers locally."
-- National Employment Law Project (New York City, New York) -
$250,000. NELP is partnering with the Safer Foundation on a
pilot
project in the Bay Area, Cleveland and Dallas Fort-Worth to
engage
healthcare employers and workforce development organizations
to
explore hiring practices, share best practices, and build a
foundation
for advancing employment opportunities for people with
criminal
records in pilot communities. Due to limited information
available on
the experiences of employers that have employed individuals
with
criminal records, related hiring policies haven't progressed.
This
program, which resulted in the production of "A
Healthcare Employer Guide to Hiring People with Arrest and
Conviction
Records," will lay the groundwork for educating employers on
the
cost and benefits associated with hiring and employing people
with
criminal records as compared to other workers.
"One in three adults in the U.S. have an arrest or conviction
record and current hiring practices in the healthcare industry
create significant employment barriers for those people," said
Christine L. Owens, Executive Director, National Employment Law
Project. "With employment in the healthcare industry expanding
every day, it's time to update our human resources policies using
new data to not only ensure those individuals have a chance to get
back on their feet but address the ever-growing healthcare
workforce shortage."
-- Foundation for the Seattle Colleges (Seattle, Washington) -
$240,000. The Seattle Colleges District (SCD) comprises the
largest community college system in Washington, serving more
than
45,000 nontraditional students with programs in workforce
education
and training, career-focused bachelor's degrees, and academic
transfer
degrees. In order to help meet the demand for middle skill
workforce,
this program aims to place well-trained students who previously
been
un/underemployed into high-demand healthcare jobs as medical
assistants, medical informatics specialists, and medical
cyber
security technicians by launching three degree programs that
incorporate alternative instruction modalities to accommodate
the
demands of today's students, including online, hybrid, evening
and
weekend courses. In addition to placing students, this will
assist
employers in filling thousands of jobs due a shortage of
qualified
workers.
"Our ongoing partnership with JPMorgan Chase has allowed us to
make tremendous strides," said Malcolm Grothe, PhD, Associate Vice
Chancellor, Workforce and Economic Development, Seattle Colleges.
"Medical assistants and cyber security techs serve very important
roles in our healthcare facilities and building a pathway to make
sure their roles are filled is not only good news for their
futures, it improves the overall quality of health care in our
region."
-- Employ Milwaukee (Milwaukee, Wisconsin) - $150,000. Employ
Milwaukee is the largest workforce investment board in
Wisconsin, and
has collaborated with the state's five health systems that
collectively employ 50,000 to collaborate on an
industry-wide
employment strategy. The program aims to deepen the connection
between
employers and community-based organizations, and has worked with
the
founding partners to commit to hiring 500 community residents
from
underserved zip codes, to increase diversity in their
healthcare
system writ large, and to build collective impact and
greater
collaboration among community-based organization engaged in
workforce
efforts.
"JPMorgan Chase was the first non-health system to provide
funding for our demand-driven healthcare initiative in Milwaukee,"
said Earl Buford, CEO of Employ Milwaukee. "Together we are working
to make sure there is a steady and diverse pipeline of candidates
to fill jobs in this high-growth industry."
-- The Urban Institute (Washington, DC). The Urban Institute is a
nonprofit group that conducts research and offers
evidence-based
solutions to improve lives and strengthen communities across
the
world. Urban conducted a study to better understand what
innovative
practices healthcare employers are using to meet their need for
middle
skill healthcare workers while also preparing lower-skill
employees to
fill these jobs. They examined the strategies of up to 10
large
healthcare employers seeking to improve access to skills
training in
the healthcare industry. The public-available research will be
used to
inform new initiatives and replicate successful existing efforts
to
help meet the employer need to boost the middle skill
healthcare
workforce.
"JPMorgan Chase has dedicated funding to research that helps
workforce organizations better understand the problems facing
employers in the healthcare industry," said Pamela Loprest, Senior
Fellow, Urban Institute. "Our research partnership is helping to
highlight the key roles some employers already play in building
worker skills and how to better allocate resources to prepare job
seekers with the training they need to enter well-paying healthcare
careers."
Other recipients include:
-- (Idaho) College of Western Idaho Foundation - $45,000
-- (California) Jewish Vocational Service Los Angeles - $75,000
-- (California) Los Angeles Area Chamber of Commerce Foundation - $155,000
-- (California) Telacu Education Foundation - $50,000
-- (California) Bay Area Council Foundation - $200,000
-- (California) Valley Vision - $150,000
-- (California) Center for Employment Training - $100,000
-- (California) Unity Council - $100,000
-- (Louisiana) Monroe Chamber of Commerce - $200,000
-- (New York) East Harlem Employment Service, Inc./Strive International,
Inc. - $400,000
-- (New York) New York Alliance for Careers in Healthcare - $235,000
-- (New York) Phipps Neighborhoods, Inc. - $1,000,000
-- (Washington) Spokane Area Workforce Development Council - $200,000
-- (Washington) The Seattle Foundation/SkillUp - $500,000
Through several targeted philanthropic initiatives, the firm is
investing over $325 million in skills development around the world.
In addition to a $75 million New Skills for Youth initiative, these
investments include a separate five-year, $250 million global
initiative called New Skills at Work to help fill vital positions
for employers and provide adult workers with a real and tangible
pathway to economic opportunity, as well as a $5.8 million effort
to support summer youth employment programs for youth around the
country.
About JPMorgan Chase
JPMorgan Chase & Co. is a leading global financial services
firm with assets of $2.5 trillion and operations worldwide. The
Firm is a leader in investment banking, financial services for
consumers and small businesses, commercial banking, financial
transaction processing, and asset management. A component of the
Dow Jones Industrial Average, JPMorgan Chase & Co. serves
millions of consumers in the United States and many of the world's
most prominent corporate, institutional and government clients
under its J.P. Morgan and Chase brands. Information about JPMorgan
Chase & Co. is available at www.jpmorganchase.com.
Media:JPMorgan Chase & Co.Stephanie Bosh, (202) 585-1382
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(END) Dow Jones Newswires
April 20, 2017 05:00 ET (09:00 GMT)
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