New jobs are bolstering the economy in the Greater Phoenix area, and it’s not just the number of people employed but the types of jobs being created. Even as we diversify our economy with a broader array of industries, the jobs within the workplace are evolving due to changes in both technology and demographics.
Within the past five to ten years, we have seen a significant shift in economic development, from a cost-based approach to one that transcends cost and focuses holistically on market value. With the array of post-secondary institutions in the market — featuring the largest public university and largest community college system — the Greater Phoenix region offers companies looking to enter the market a diverse, skilled workforce.
A recent announcement from Forbes magazine named Arizona No. 1 for the fastest projected job growth in the nation over the next three years, and we know at the Greater Phoenix Economic Council that we need to be producing the right kind of jobs that help build and sustain a truly robust economic region. The collaboration that exists between our business community and P-20 education institutions is instrumental to leading the development of the talent that will continue to make the Greater Phoenix region a destination for all industries to grow and flourish.
In spite of the tongue-in-cheek title of this issue’s cover story — “Job Creation: The ‘Simple’ Solution for Our Economic Success” — there are many forces impacting business development and job growth. These include changes evolving in the workplace as to what functions are performed by people and what soft skills are gaining attention. High-growth companies share their experience and perspective on the current hiring landscape with In Business Magazine editor RaeAnne Marsh, who also spoke with hiring professionals and education and economic development leaders.
Susan Ford Collins takes up the issue of engaging the workforce beyond the traditional definition of “success,” bringing to the “Roundtable” forum an exploration of the emerging dynamic of what constitutes motivation for the up-and-coming workforce. “Engagement” is also the subject of the HR article, in which, working with another definition of the word, James Pooley addresses potential intellectual property issues a company may face with new hires that come over from a competitor’s company.
Changes may be on the horizon in IRS regulations on transferring a family business to the next generation, as this issue’s “Legal” feature explains. And “Technology” this month looks at the trend of BYOD (Bring Your Own Device) by employees operating in the company workplace.
In Business Magazine continues to provide the business community strong, relevant information to serve business decision makers at every level. I’m pleased to be this month’s Guest Editor and help bring you this issue. Enjoy the read.
President and Chief Executive Officer
Greater Phoenix Economic Council
A proven leader with more than 10 years in executive management roles, Chris Camacho serves as the president and CEO at one of the longest-standing public-private partnerships for economic development across the country.
During his tenure, GPEC has led the attraction of more than 175 companies, creating 26,688 jobs and $2.2 billion in capital investment. As chief executive of GPEC, Camacho oversees the domestic and international business development and market strategies and serves as the organization’s executive leader in community interactions.