That’s the findings in a new report by Strada Institute for the Future of Work and Entangled Solutions. The report was designed to encourage employers, investors, funders, entrepreneurs and policymakers to revisit the possibility of using the program model to help working adults obtain enhancement and growth.
“There’s so much innovation going on in postsecondary education, but so much of the funding right now is going towards solutions that are geared toward the well-educated or the already educated, and we’re very concerned about this huge swath of the population that could be left behind by the future of work,” said Dr. Michelle Weise, lead author of the report and chief innovation officer for Strada Institute for the Future of Work.
Fifty-eight percent of the $170 billion that employers annually invest in formal training goes toward adult workers who have a bachelor’s degree and work in higher-paying professional and managerial positions, the report said.
In addition, venture capital disproportionately goes towards solutions geared towards adults with a bachelor’s degree than for working class adults.
Dr. Michelle Weise
On-ramps are short-term training programs designed to help adults without postsecondary credentials obtain in-demand skills needed to achieve educational and economic success. Most on-ramps combine human and skills training, experiential learning opportunities, intensive assessments and screening and job placement and advancement services, according to the report.
