Workforce Attraction and Young Professionals

Tulsa seems to be at a tipping point in its progression towards recapturing the vibrancy we once had when we were a cutting-edge metropolis and considered the “Oil Capitol of the World.”  While markets, technologies, and industry are always evolving, it is the people behind our businesses that dictate whether or not our city will succeed.  A city with a strong base of successful businesses translates into a vibrant community.
When you consider people as our main resource for success, you cannot ignore young professionals (YPs). Currently, young talent is the number one commodity in the nation.
With Tulsa’s MSA unemployment rate at 4.0% and the U.S. unemployment rate at 4.4%, Tulsa is essentially at full-employment. Couple this with the fact that the 25 to 44-year-old age group will decline by 15% over the next 15 years, due to a drop in birth rates in the 1960s through the 1980s.  This translates into a workforce shortage, causing cities to compete to keep young talent and maintain strong economies. The energy, talent, and creativity of YPs are all qualities that are needed to not only sustain established businesses but to successfully grow businesses in the future.
As the current president of Tulsa’s Young Professionals, I work with all our 4,200 members to achieve our organization’s goal of attracting and retaining young talent in the metro region. This is done through numerous events, programs, and educational forums, all aimed at providing Tulsa’s young professionals with avenues to succeed within the community.  A sense of place is important to YPs.  Young professionals first determine where they want to live before finding a job, so it’s more important than ever for cities to capture the attention and loyalty of this “creative class.”  In fact, YPs rank choosing a place to live as important as choosing a spouse or career, and as a result, companies will make location decisions based on access to this demographic, rather than expecting these individuals to come to them.
This group is also highly entrepreneurial with four out of five new businesses generated by Gen Xers. These new businesses grow the community and ultimately make their respective cities more attractive to other YPs, generating a city abounding with new ideas and energy, variety, competition, and new products/services.
We are all passionate about our businesses being progressive and our community being a dynamic and energetic catalyst.  It is for this reason that we have to be committed to investing in the rejuvenation of our community, so that we are a place that is attractive to young professionals.
When you consider people as our main resource for success, you cannot ignore young professionals.  Currently, young talent is the number one commodity in the nation.