Bank of America Awards CareerEdge $25,000 to Support Local Workforce Development
Bank of America Awards CareerEdge $25,000 to Support Local Workforce Development
Sarasota, FL – (June 27, 2022) CareerEdge, the Sarasota Chamber of Commerce workforce development program, has received a $25,000 grant from Bank of America to expand the organization’s Bridges to Careers training programs and on-the-job training. As a founding investor, this is the latest support the bank has provided CareerEdge in a 12-year partnership strengthening the workforce opportunities available to the Sarasota-Manatee community.
Today’s workforce climate is desperately in need of talent to fill job openings, especially at the entry-level. “What CareerEdge does very well is we take the time to listen to what employers need and help fill the gap,” says Kristi Hoskinson, vice president of CareerEdge. “Our Bridges to Careers training model helps the under-served, under-employed, or unemployed by offering free training and opening a door to a new career.” In 2021, 96 people graduated from one or more of its programs – 50% of them were non-white/BIPOC and 25% were unemployed prior to the training. Participants averaged an increased hourly wage of $3.79 per hour post-training. Participants will also receive financial education training from Bank of America’s Better Money Habits sessions as part of the Bridges to Careers experience.
Bank of America’s funding will also support CareerEdge’s on-the-job training (OJT) wage reimbursement program. It will help reduce the expense of upskilling employees through salary reimbursement during the training period. Employees earn a paycheck while learning in the actual environment where the work is performed, while employers are reimbursed a portion of the employee’s salary. OJTs often result in an increase in wage, potential promotion, and/or certification earned. In 2021, trainees earned $2,787 more annually following an OJT experience.
“Local businesses are struggling to fill essential positions, and many in our community lack access to the training and experience required to successfully enter the workforce,” said Mike McCoy, President, Bank of America Sarasota-Manatee. “Bank of America is working with CareerEdge to bridge this gap by connecting employers with a talented workforce and setting Sarasota-Manatee’s next generation of professionals on the path to better economic futures.”
CareerEdge’s ability to make a favorable impact in regional workforce development would not be possible without the on-going commitment from donors like Bank of America. They are committed to improving the labor market in our ever-growing region by providing opportunities to both individuals and employers. CareerEdge is positioned well to continue to make an impact and seek out innovative workforce solutions for employers and the community.
