The Workforce Investment Board (WIB) functions as a value-added extension of local economic development groups, bringing together an array of employment and training solutions to fill gaps and help balance workforce supply and demand. Utilizing partnerships in Career Centers and educational agencies, the WIB enhances the value of local incentive packages, both with financial resources and through in-kind services. The WIB helps reduce the anxiety of investors with tools that help manage the risk of ineffective hires. The WIB’s expert analysis of the local labor market provides a neutral third-party validation of the supply and quality of the workforce.
Typical Value of Incentive Package for 25 New Hires = $85,000
- Recruitment: Advanced job matching, advanced screening; Commercial value of $498/candidate
- Testing & Remediation: Assessments to gauge and training to improve basic workplace literacy or technical skills; Commercial value of $818 per candidate
- On-the-Job Training: Partial wage reimbursement for eligible new hires during a pre-set number of training weeks; Commercial value of $800 per candidate