CareerBuilder And Capella To Launch First-Of-Its-Kind Program To Re-Skill And Up-Skill Workers For Higher-Paying Jobs In Less Than Three Months
Big Data and competency-based education unite in the RightSkill(SM) program--an exciting new initiative that connects learning and real-world employer demand to help close the skills gap
CHICAGO, Feb. 11, 2016 /PRNewswire/ -- CareerBuilder® and Capella Education Company, (NASDAQ:CPLA) today announced an exclusive partnership to offer a program called RightSkillSM that aims to fill talent gaps for employers and help job seekers advance their careers. Set to launch this spring, the collaboration represents the first time that real-time labor data will be paired with competency-based education to design educational programs directly aligned with the needs of employers – and it comes with an unprecedented guarantee that is a huge win for participants.
A leading provider of HR software as a service with one of the largest online job sites in the U.S., CareerBuilder works with employers around the world. The company has the largest repository of historical and real-time labor market data, and can make up to 10-year predictions around job growth and labor trends.
Capella Learning Solutions, a subsidiary of Capella Education Company, will leverage CareerBuilder's deep labor market intelligence to design online learning experiences in high-demand fields such as web development and information security that are tightly coupled with the specific competencies desired by employers. The programs are designed to be completed in less than 90 days at low cost – money that will be refunded to the job seeker if they don't find placement with an employer within 90 days of completion in the designated field.
CareerBuilder will leverage its strong ties with top employers to help place candidates with appropriate firms, providing employers with in-demand talent and providing job seekers with opportunities to land higher-skill, better-paying jobs with meaningful career advancement opportunities.
"Millions of people in the U.S. are out of work, yet nearly half of employers have jobs they can't fill because they can't find qualified candidates1," said Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation. "Our RightSkill program will provide an affordable means to re-skill or up-skill workers in a relatively short period of time to help bridge the growing talent gap in our country. Raising skill levels will by default increase the incomes of individuals, their families and communities, and help to unlock the potential of the American workforce."
According to a national Harris Poll survey of more than 2,300 employers, commissioned by CareerBuilder, 63 percent said they are concerned about the skills gap. Half of employers have experienced a negative impact on their business due to extended job vacancies with 25 percent reporting a loss in revenue and 43 percent pointing to lower productivity.2
"Employers and students are demanding faster, lower cost pathways to in-demand skills," said Kevin Gilligan, Chairman and CEO of Capella Education Company. "Our RightSkill program is designed to align directly with the expectations of employers. CareerBuilder is providing us with insights that will enable us to design non-degree programs very close to real-time, and provide students with unprecedented transparency about what they can expect for their investment of time and money. This partnership represents the most direct path between learning and employment."
A pioneer in the field of competency-based learning, Capella Education Company has developed a range of non-degree, corporate and accredited programs, including Flexpath, which was among the first higher education institutions approved by the U.S. Department of Education to move beyond "seat time," to help career advancers save money and accelerate degree completion.
1 and 2 – Harris Poll survey, commissioned by CareerBuilder, of 2,338 hiring and human resource managers across industries and company sizes between November 4 and December 1, 2015.
About Capella Education Company
RightSkillSM is a service mark of Capella Learning Solutions and CareerBuilder.
FORWARD LOOKING STATEMENTS
Information in this news release that does not relate to historical financial information should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors not to place undue reliance on any such forward-looking statements, which are based on information available at the time those statements are made or management's good faith belief with regard to future events, and should not be read as a guarantee of future performance or results. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from results presently anticipated. Some of the risks and uncertainties are described in the "Risk Factors" section of Capella's most recent Annual Report on Form 10-K on file with the Securities and Exchange Commission (SEC), and any updates or developments described in Capella's Quarterly Reports on Form 10-Q and other documents Capella files with the SEC.
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