Young Professionals Group Business Case
By: Nicole M. Pascoe
In 2003 the Greater Greenville Chamber of Commerce, in conjunction with community leaders and the general public, embarked upon a comprehensive visioning process intended to identify what improvements should be made to the city in order to reflect the changing times and position Greenville to be a premier American city. One of the guiding principles of this process was that recruiting and retaining businesses and individuals is instrumental to transforming Greenville into the twenty-first century global economy. A sharp decline in the area’s manufacturing base created the need to enhance the knowledge-based segment of the economy, and those involved in the process recognized this fundamental change in recruiting strategy. The South Carolina economy has lost more manufacturing jobs per capita than any other state, and it has become increasingly apparent that the area’s future lies in the development of highly technical companies and specialized business “clusters.” In order to accomplish this goal the city must recruit the young professional talent that drives such an economy. With this identified, the question then became, “How does a city go about successfully attracting and retaining young professional talent?”
One of the tenets of the visioning process was that Greenville should have young adults in positions of responsibility in all levels of business, government, citizen and social organizations. The Vision 2025 report states that Greenville should have a reputation as “a leader in the state of capturing the innovation, intellect, and spirit of its youth in shaping community decisions and direction.” Of course, in order to capture the spirit of its youth the city must first capture the youth themselves. This can be difficult, considering that today’s young professionals are both highly mobile and entrepreneurial, and thus, have the luxury of selecting the city in which they want to be employed. According to a U.S. Census Bureau Special Report, over one-third of all movers in the U.S. between 1995 and 2000 were between 25 and 39 years old. However, this trend is only benefiting a small percentage of American cities, as evidenced by the fact that South Carolina experienced a net in migration of the general population during the same timeframe, but a net out migration of young, single, college-educated individuals. Due to the considerable size difference between the Baby Boomer and Generation X populations, it is estimated that by 2006 two workers will exit the workforce for every one entering. This, coupled with the statistic that today’s young professionals rotate jobs every 18-36 months, leaves communities with the unsettling knowledge that the competition for skilled labor and young talent is fiercer than ever.
The Vision 2025 document also states that by 2025 “25% of all volunteer and elected leadership positions are dedicated to community citizens 18-35 years of age.” In order for young professionals to learn and cultivate the skills to lead, they need access to professional and leadership development programs. While traditional, national organizations such as Rotary International have existed for years, many young professionals do not find these types of groups as an adequate source of social and community connection. They want to be part of a home-grown organization that is responsive to the direct needs of its community, as opposed to a group that follows a national model and has pre-appointed directives. Carol Coletta, a consultant and host of the city-oriented public radio program “Smart City,” says that according to her research “there is definite interest in civic life that is simply not going to play out in Rotary clubs.” Further, with four out of every five new businesses being started by young professionals, access to affordable and flexible development programs are critical.
In an effort to address the question of how to attract and retain young professional talent, as well as to meet the goals the community has outlined for itself, a volunteer group of young professionals has teamed with the Greater Greenville Chamber of Commerce to develop PULSE, Professionals United for Leadership and Social Enrichment. PULSE, which is dedicated to the segment of the population age 22-39, will focus on both social and leadership/professional development for young talent. The program will consist of monthly events for its members, ranging from seminars on topics of interest to young professionals to purely social networking opportunities. Such activities will serve to connect young professionals to the community and provide them with meaningful opportunities to interact with others in their age group, as well as with business and community leaders. As a benefit of membership PULSE will offer a card that entitles members to discounts at local restaurants and retail establishments. This allows community businesses to directly market to this demographic group, while at the same time shows young professionals that the community values their patronage. Membership will be available to both companies and individuals, and as such, should serve as a recruiting tool to area businesses. PULSE will be guided by a volunteer Board of Directors but will remain in alignment with the Chamber of Commerce’s program of work and strategic objectives.
In the past few years it has become increasingly clear that the influence of a relatively small segment of the population is far greater than its size would suggest. This fact, and its implications, has created a fundamental shift in how cities view economic development, corporate recruiting, and community planning. Not only do today’s young talented professionals raise the level of economic opportunity in a community, they also contribute to its social well-being and longevity. The equation is simple: Communities want companies, companies want talent, and talent demands a great community. Any city striving to grow and compete in today’s global economy is faced with the challenge of maintaining this balancing act. Greenville, SC has created PULSE in an attempt to provide an environment that caters to the needs of tomorrow’s leaders, thus helping to stem the area’s “brain drain” and contend with the offerings of other cities in the bid for young professional talent.
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