Concluding this week's review of The Young and the Restless In A Knowledge Economy by CEOs for Cities, here's their recommendations on how cities can better compete for talent: 1. Make people the focus of economic development - Cities, like Chicago, are realizing that quality of life is more important to job growth than tax incentives
2. Become a city where women and ethnically diverse young people can achieve their goals - As each succeeding workforce generation embraces and benefits more from women and ethnic diversity, so will the cities that best accommodate them.
3. Openness and engagement are key to rooting talent in place - From the report, "They want to live in places that they can be proud of, part of, and that are clean and green. Part of the equation seems to be social and cultural - Is this a place that I can be a part of, that I can contribute to? Places with a sense of possibility and opportunity, where the circle is open, where new ideas are welcomed are more likely to attract and retain young adults."
4. Investing in higher education is important, but it won’t solve the problem - The feared 'brain drain' - what good it talent if you can't retain them? The most successful cities attract other cities' post-graduate talent.
5. Vibrant urban neighborhoods are an economic asset - This should be a no brainer, but many times is overlooked by cities.
6. The economic importance of being different - The report says it best in these words, "Many people want choices and a sense of place that moves past the bland of the national brand."
So we are back to the concept of mass customization from the late 90's, but in a city. It can be done, and with technology today, we should be in good shape.
