PPB December 2018

PPAI Exclusive Research | FEATURE one-third of the general labor force completed no more than high school compared to just five percent of those in the promotional products industry labor force. More than a quarter of industry professionals either attended college (17 percent) or earned an associate’s degree (10 percent), much in line with the BLS data; however, the share of promotional products professionals with bachelor’s and advanced degrees (includes master’s, professional and doctoral degrees) was 28 percent higher than the national average. In a 2017 analysis, “Meet the U.S. Workforce of the Future,” global consulting firm Deloitte used 2015 CPS data to forecast that almost two-thirds of the labor force is likely to have some education beyond high school by 2025. Under the same rate-of-change model, industry forecasts calculate nearly three-fourths of promotional products professionals with a bachelor’s or advanced degree and nearly 96 percent of the industry labor force to have some college education (Figure 4) . Even these estimates could be conservative, as it assumes educational attainment to be frozen within a set period, whereas people often continue their education over time, even later in life. Further analysis by Deloitte suggests a growing trend of continuing education—a trend that extends to the promotional products industry. Though 48 percent of companies in the promotional products industry, on average, offer tuition reimbursement, scholarships or other financial opportunities specifically for staff development, supplier companies are 1.6 times more likely (57 percent) to encourage professional development than distributor companies (46 percent). Larger companies are also more likely to provide financial support than companies with less than $10 million in promotional products sales (Figure 5) . The changing demographics across the country are causing people, processes and priorities to shift in our work environments and reflect growing diversity and complexity in the labor force. As the 21st-century labor market continues to evolve, businesses that capitalize and embrace the nation’s changing demographics will reap the economic benefits of a productive and prosperous labor force. Access the current collection of PPAI Research by visiting www.ppai.org/ research. To participate in upcoming polls, login to onlineeducation.ppai.org. Moumita Das is the research manager at PPAI. Figure 4. Forecasted Educational Attainment, 2025 / 2028 2025 National Forecast [1] 2028 Promotional Products Industry Forecast [2] Some College / Associate Degree Bachelor’s Advanced 28 % 21 % 23 % 61 % 13 % 14 % Source: [1] Deloitte Review, July 2017 [2] PPAI Research analysis Figure 5. Companies Most Likely To Financially Support Professional Development, By Annual Promotional Product Revenue Source: PPAI Research, August-September 2018 Poll Results (n=108) Under $1 Million Between $1,000,001 to $10 Million Between $10,000,001 to $50 Million Over $50,000,001 25 % 67 % 91 % 56 % | DECEMBER 2018 | 67