Capital One Launches $150 Million Initiative to Help More Americans Succeed in a Digital Economy
Capital One and Burning Glass Technologies release new research highlighting digital skills gap
New Research Sheds Light on Digital Skills Gap
The launch of the Future Edge program comes at a time when technology
evolution is outpacing job skills growth and dramatically altering the
competitive landscape for businesses of all sizes. New research from
Burning Glass Technologies and Capital One released today provides
an in-depth look at the digital skills required in today’s middle-skill
jobs, which are those with less than 80 percent of postings calling for
a Bachelor’s degree and with a median hourly wage above the national
living wage of
- Nearly 8 in 10 middle-skill jobs in today’s workforce require digital skills – representing 32 percent of all labor market demand in the nation.
- Digitally intensive middle-skill jobs have grown more than twice as fast as other middle-skill jobs in the past decade.
- Digitally intensive middle-skill occupations pay wages, on average, 18 percent higher than middle-skill jobs without a digital component.
- In major cities, there is greater demand for digital skills, and those positions are more likely to pay a living wage than other middle-skill jobs.
“The research shows that having digital skills has become an imperative
for American workers,” said
“The impact of technology and innovation on our economy and in our daily
lives is undeniable. And as technology continues to evolve, there is a
greater need for people to be proficient in its use and application in
order to compete, grow and prosper,” said
New Digital Skills Lead to New Opportunities
As part of its new Future Edge initiative, Capital One today launched a
new partnership with global educational institution
“General Assembly gives people the knowledge, skills and support they
need to pursue a rewarding career they love. We created the
Capital One also partnered with Grovo, a learning technology leader that specializes in digital skills training. With Grovo, Capital One will develop a self-directed micro-video-based digital literacy curriculum designed for people in low-to-moderate income communities to help diminish the digital skills literacy gap. Through this free curriculum, launching later this year, thousands of individuals looking to develop their basic digital skills will have access to learning and tools essential for success in the 21st century workforce.
"Grovo was founded on the belief that everyone should have access to the digital skills to thrive in the 21st century. Like Capital One, we believe digital literacy has the power to provide immeasurable opportunity," said Grovo CEO & Cofounder Jeff Fernandez. "The specialized online curriculum we design for Future Edge will use the same cutting-edge microlearning method we use to train Fortune 500s around the globe."
Over the next five years, Capital One will provide hundreds of grants to new and existing community-based, non-profit organizations nationwide to develop innovative programs and services to help more Americans unleash their full potential and succeed in a digital age. For more information on Capital One’s overall Investing for Good community involvement and investment efforts, please visit www.capitalone.com/investingforgood.
About Capital One
Grovo is the quickest, simplest training platform for digital and professional skills. It provides organizations with an intuitive interface to create, deliver and track training, as well as a customizable library of 5,000 one-minute video lessons covering Internet tools, cloud services, and work-related topics. With its science-backed microlearning method, Grovo teaches teams the critical skills for today’s fast-moving world. The learning technology leader is based in NYC and serves Fortune 500s, businesses, nonprofits and universities in 190 countries. Learn more at www.grovo.com.
About Burning Glass Technologies
Burning Glass’s tools and data are playing a growing role in informing the global conversation on education and the workforce by providing researchers, policy makers, educators, and employers with detailed real-time awareness into skill gaps and labor market demand. Burning Glass provides tools for analysts track job market trends and for students to plan their careers and find jobs.
With headquarters in Boston’s historic North End, Burning Glass is proud to serve a client base that spans six continents, including education institutions, government workforce agencies, academic research centers, global recruitment and staffing agencies, major employers, and leading job boards.
Capital One Financial Corporation
Shelley Solheim, 917-589-6203