Cook County Bureau of Economic Development
LONG-TERM ROI TRACKING WITH A FOCUS ON CAREER ADVANCEMENT AND WORKFORCE STABILITY
The Cook County Bureau of Economic Development emphasizes long-term ROI by tracking career advancement, workforce stability, and economic contributions. Their approach provides employers with a deeper understanding of the lasting value created by workforce partnerships, highlighting metrics that demonstrate sustained impact on both the business and regional economy.
Longitudinal Data on Career Advancement: The Bureau provides employers with longitudinal data tracking the career progression of program participants, including promotions, additional certifications, and skill development milestones. By focusing on metrics that reflect career growth, the Bureau demonstrates the long-term value that workforce partnerships bring to an organization’s talent pipeline.
Retention and Stability Metrics Over Time: To showcase the stability of hires, the Bureau tracks employee retention rates over multiple years, presenting data that highlights the long-term contributions of workforce program participants. Employers receive insights into how these candidates perform and persist within the organization relative to traditional hires, emphasizing the lasting ROI of engaging with the Bureau’s workforce programs.
Workshops on Using Metrics for Talent Strategy: The Bureau conducts workshops where employers learn to use workforce metrics to refine their internal talent strategies. These sessions focus on leveraging retention data, career development metrics, and productivity benchmarks to support better talent planning and succession strategies. This added value reinforces the strategic importance of metrics and empowers employers to maximize the impact of their workforce investment.
Economic Impact Reports for Regional Development: As part of their commitment to local economic development, the Bureau shares reports that quantify the regional economic impact of employer partnerships. Metrics such as increased local employment rates, economic contributions, and workforce development outcomes highlight the program’s contributions to the county’s economic stability. Employers gain a broader perspective on their role in regional development, reinforcing the holistic ROI of their partnership.
