The Profit Motive
The skills-first movement will be stuck at feel-good press releases and tiny pilot programs if big business continues to relegate it to philanthropic and social responsibility projects, many experts say. However, real change seems more likely if corporate America decides that the economic mobility of working learners and frontline employees is good for the bottom line.
Blackstone appears to be a believer. During a meeting the $1.1T alternative asset management company hosted last week, executives from the firm and several of its portfolio companies made the financial case for tapping a wider pool of talent in hiring and creating more career growth opportunities for workers.
“This work is good for people,” and it “makes good business sense,” said Joe Baratta, Blackstone’s global head of private equity.
