With support from Truist Foundation, Build
Better Careers program will create pathways to high-growth jobs in
banking and financial services for South
Florida residents without a college degree
FORT
LAUDERDALE, Fla., July 30,
2024 /PRNewswire/ -- The Council for Adult and
Experiential Learning (CAEL)—a national nonprofit organization
dedicated to helping adult learners navigate the pathways between
education and employment—today announced the expansion of an
ambitious initiative designed to help South Florida residents without a college
degree access high-growth jobs in the banking and financial
services sector. With funding from the Truist Foundation's Where it
Starts Initiative, the Build Better Careers program aims to expand
opportunities for South Florida
residents by connecting area job seekers to higher-wage jobs and
long-term career opportunities in the industry and recruiting
financial services organizations to hire more adult learners.
![CAEL Logo CAEL Logo](https://mma.prnewswire.com/media/2472028/CAEL_Logo.jpg)
"Too many South Floridians are currently locked out of economic
mobility and high-paying roles either because of insufficient
access to education or systemic barriers, such as food insecurity,
inadequate child care and a lack of affordable housing," said
Earl Buford, president of CAEL.
"This is about mobilizing educators, talent developers, and
employers to create pathways to careers in financial services for
high-potential individuals within our communities who can take
their existing skills to the next level. It's about creating career
ladders and lattices to long-term economic opportunity."
According to the Bureau of Labor Statistics, employment in
finance-related occupations is projected to grow faster than the
average for all occupations through 2032, with an average of
911,400 openings projected each year. However, many roles beyond
the entry level that pay above the median wage require some level
of education and training beyond a high school diploma, if not a
bachelor's degree. More than 1.8 million Floridians, or
approximately 18% of the state's adult population, have some
college credit, but no degree or credential.
To help broaden access to careers in banking and finance, the
Build Better Careers initiative aims to identify, recruit and
upskill high-potential working adults and help them translate their
existing knowledge and skills to prepare for roles in financial
services. Using a peer-to-peer capacity-building model, CAEL will
mobilize and train a coalition of workforce training providers,
community-based organizations, and institutions of higher education
with an initial set of local partners that includes CareerSource
South Florida and OIC of South
Florida.
"By creating tailored pathways to high-growth careers in
financial services, we are addressing a critical need in our
community and providing residents with the tools they need to
achieve economic stability and success," said Newton Sanon, President and CEO of OIC of
South Florida. "This initiative
will not only empower individuals but also strengthen our local
economy by ensuring a diverse and skilled workforce."
Over the next three years, CAEL and its national and regional
Build Better Careers partners will collaborate with a diverse set
of stakeholders in South Florida
communities, including educators, trainers, and employers, working
to help connect traditionally underserved populations with career
paths in financial services, insurance, and adjacent industries. In
addition to providing hands-on training and education, the program
will also engage community-based organizations who will help
address barriers—such as food and housing insecurity and a lack of
affordable child care— that have historically prevented
high-potential and qualified individuals from accessing high-growth
careers.
Launched in 2022, Build Better Careers is made possible by a
generous $15.7 million grant from the
Truist Foundation, which will help more than 6,000 adult learners
connect with rewarding education-employment pathways over its
six-year operational period. The six-year multi-city initiative is
designed to create upward mobility for individuals from underserved
communities by building career paths in professions and industries
historically unavailable to them, such as financial services.
CAEL taps into more than 40 years of experience collaborating
with employers, workforce boards and colleges and universities—with
a deep subject matter expertise in building education and training
programs to meet the needs of adult learners. To design and scale
the program in South Florida and
four other markets, CAEL has assembled a diverse coalition of
national partners, including CareerWork$ (BankWork$ program), adult
learner recruitment solution CollegeAPP, labor market analytics
firm Lightcast, career planning platform PAIRIN, and experiential
learning provider Riipen.
Local community-based organizations, institutions of higher
education, and workforce organizations are invited to participate
and can find additional information on the initiative at
cael.org/truist.
About CAEL: Recognizing that adult learners are the
backbone of the U.S. economy, CAEL helps forge a clear, viable
connection between education and career success, providing
solutions that promote sustainable and equitable economic growth.
CAEL opens doors to opportunity in collaboration with workforce and
economic developers, postsecondary educators, employers and
industry groups, and foundations and other mission-aligned
organizations. By engaging with these stakeholders, we foster a
culture of innovative, lifelong learning that helps individuals,
and their communities thrive. A national membership organization
established in 1974, CAEL is a part of Strada Collaborative, a
mission-driven nonprofit. Learn more at cael.org and
stradacollaborative.org.
About Truist Foundation: The Truist Foundation is
committed to Truist Financial Corporation's (NYSE: TFC) purpose to
inspire and build better lives and communities. Established in
2020, the foundation makes strategic investments in nonprofit
organizations to help ensure the communities it serves have more
opportunities for a better quality of life. The Truist Foundation's
grants and activities focus on building career pathways to economic
mobility and strengthening small businesses. Learn more at
Truist.com/Purpose/Truist-Foundation.
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SOURCE Council for Adult and Experiential Learning (CAEL)