Reemployment Pathways 1 Business Grows After Retraining Tied To

Reemployment Pathways

Business grows after retraining tied to new strategy

1

The reemployment process begins with a business saddled with a failing strategy. Faced with this situation, a business can opt to take a new strategic direction and develop training programs that support the new strategy. The current workforce gains new skills to improve productivity and accelerate innovation.

2

Alternatively, the firm can do little or nothing to change its strategic direction. In response to market forces, the firm starts job-sharing, downsizes significantly, or goes out of business. Unemployed workers now faces several different pathways.

3

Some workers may be able to move quickly to firms and closely related in businesses. This transition can take place without additional training.

4

Other workers may decide to change their career path and decide to complete a formal training program that enables them to find a new job and a new industry.

Growth Start-up

5

A small number of unemployed workers may decide to launch a growth oriented spin-off business, commonly based on skills or business experience they gained at their old employer.

Life style selfemployment

6

Alternatively, some workers may decide to become selfemployed in their own lifestyle business.

7

Some workers may reluctantly decide to take lower skilled jobs at lower wages.

8

Some workers may simply retire.

9

Some workers stay unemployed.

New firm, new industry

New firm, same industry 1 4

Formal training

3

2

5

Business struggles with weak strategy

6

Business fails or downsizes Unemployment One Stops

Source: Ed Morrison, Purdue Center for Regional Development and I-Open Distributed under a Creative Commons 3.0 license

7 8 Retirement 9 Continued unemployment

Lower skill, lower pay employment