Virginia: A Global Technology Center

August 17th, 2017 | Posted by Alexa Magdalenski in Research - (Comments Off)

NVTC recently published the third infographic in its research series. The latest infographic highlights Virginia’s position as a global technology center and a top state for business. Continue reading for some of the key findings in the infographic.

VA Tech Rankings Infographic 0717

Click infographic to enlarge

Virginia’s tech job opportunities are unmatched

  • Virginia ranks #1 in total employed and geographic concentration of cybersecurity workers.

Virginia’s cybersecurity workforce location quotient – a Bureau of Labor Statistics data-driven ratio highlighting a geographic area’s distribution within a given industry – is first in the nation at 4.47, far exceeding the 1.0 that is our national average. Or to put it another way, there are more cybersecurity workers per employed capita than anywhere else in the country.

  • Virginia ranks #1 in cybersecurity job openings.

Virginia ranked first again in the number of cybersecurity openings posted. Cyberseek heatmap openings totaled 35,837 for the period running April 2016 through March 2017.

  • Virginia has the second largest percentage of private tech sector employees.

In the 2016 CompTIA Cyberstates report, Virginia ranked second in terms of percentage of private sector workers employed by tech firms at 9.5 percent. The report also noted:

  • Virginia had the fourth highest number of all technology job postings;
  • Virginia had the fifth highest tech payroll compared to the national average wage differential at $31 billion; and
  • Virginia ranked sixth in the total number of tech workers (284,681), average wage ($109,038), total number of tech establishments (19,568) and tech as a percentage of state product (8.8 percent).

Startup growth is strong in Virginia

  • The Kauffman Index of Growth Entrepreneurship ranks Virginia #1 for startup growth.

The Kauffman Index of Growth Entrepreneurship uses three components of small business activity to provide an early indicator of small business growth, including the rate of businesses owners in the economy, the five-year survival rate of businesses and the established small business density.

Virginia is pro-business

  • Virginia ranks #4 in the 2015 top 10 pro business rankings

The Pollina Corporate Top 10 Pro-Business States report details how well each state has positioned itself to retain and create jobs. Virginia is the only state that has been in the top five every year since the inception of the rankings.

Want to learn more about NVTC’s latest research initiatives? Email Research and Strategic Initiatives Manager John Shaw.

View NVTC’s cybersecurity and data analytics infographics.

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What do cloud and AI mean for human resources? Will automation replace human resource functions and associates? Read on to find out in Insperity’s newest NVTC guest blog.


insperity v2Cloud-based tech solutions for human resources offer the promise of easy installation and implementation, but does such software really eliminate the need for HR staff?

The short answer is no.

While new technical offerings can improve the efficiency and speed of many HR processes, the human touch is still needed to get the most out of the software.

For example, you’ll still need someone to “operate the machinery,” so to speak, or administer the software. In a smaller company, that may be one combination payroll and HR person. In a larger company, you may need one employee to do nothing but maintain, update and run the software so that your company gets the most from its capabilities.

When HR software works best

Technology is your friend when it comes to the tactical aspects of human resources. For instance, an online time tracking system that ties to your payroll and government reporting systems can save significant time and improve accuracy over manual tracking and handwritten reports.

Cloud-based HR software can automate formerly complex, time-consuming activities including:

  • New hire paperwork, such as the I-9 authentication and reporting of right to work in the United States
  • Storing of data for compliance
  • Tracking of critical HR data related to hours worked by project or department, turnover and more
  • Garnishments, reporting and mandatory requirements that vary by state

For example, a company operating in a big state like Texas may not be accustomed to the HR complexities of hiring across state lines. But open an office in New York, and you could have employees who work in that state but live in Connecticut or New Jersey.

HR software can help ensure your compliance with multiple states’ payroll tax requirements, and prevent you from having to learn and implement such widely disparate laws on the fly. The best-case scenario is when you have the right software in place to facilitate efficiency and compliance, with access to experienced HR professionals to guide you.

What to look for in HR software

Once you’ve decided whether an HR software package delivers the basic functions your business needs and will help drive company goals, it’s time to take a deeper dive into its functionality.

Some questions to consider:

  • What purpose will this software serve? Will it eliminate, add to or integrate with your existing systems?
  • Who will administer the software? Will they require extra training? If yes, how much? How much training is included in the price?
  • Is this software backed by HR on demand? For example, even with the best software, you’ll still have the occasional compliance question. Look for a software solution with human support.
  • Will this software integrate with other existing software for payroll, time and attendance, or enterprise resource planning (ERP)?

As you talk to software vendors, it’s vital you involve frontline workers who operate existing systems to help you evaluate any new HR software and its integration requirements. Depending on your current set-up, this may mean you bring in the payroll administrator, ERP data manager, compliance officer or the HR specialist managing the current performance system.

These are the people who can help you avoid the costly mistake of buying software that ultimately will not “play nice” with your other systems, since they know the intricate details of how your existing systems really work.

Why leadership is still needed

While cloud-based software may streamline many HR processes, there’s no substitute for sound leadership. Think “strategic” versus “tactical.”

Yes, software can help a company align its objectives and drive engagement through performance management, employee feedback mechanisms, people analytics, training, and compensation and rewards systems. But no software will ever replace a leader who communicates, inspires and motivates employees to achieve the organization’s goals.

As a business grows, it becomes harder to keep employees aligned with the company’s goals and strategies. Software can help keep your ship on the right course, but at the end of the day, any technology solution is only as good as the people behind it.

Learn more about Insperity here.

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On August 9, Governor Terry McAuliffe announced that over 26,000 Veterans have been hired through the Virginia Values Veterans (V3) Program since its inception in 2014.

VEI Logo SizedThe NVTC Veterans Employment Initiative (VEI) is proud to announce that NVTC member companies are responsible for over 6,000 of these Veteran hires!

The Virginia Values Veterans (V3) Program is a Commonwealth of Virginia, Department of Veterans Services Program. V3 helps employers understand, design and implement nationally recognized best practices in recruiting, hiring and retaining Veterans. Nearly early 600 companies and state and local governments are V3-certified promising to prioritize bringing Veteran talent into their organizations.

The VEI is a strategic partner with V3. V3 Northern Virginia Program Manager Rick Ferry sits on the VEI Task Force and VEI Executive Director Steve Jordon sits on the V3 Veterans Workforce Steering Committee.

Micron Event 080317 v2Currently 35 NVTC member companies are V3-certified and that number continues to grow. Micron is the latest NVTC member to be certified just last week (photo, left).

In 2015 and 2016, NVTC was honored by the Virginia Department of Veterans Services with the V3 Commonwealth Award. The Commonwealth Awards are presented to strategic partners and supporters of the Virginia Values Veterans V3 Program who have made significant contributions to the operation, strategy, and mission of the V3 Program and who have used their expertise to help make Virginia the most Veteran-friendly state in nation to work.

Interested in becoming V3-certified? Contact Steve Jordon or Rick Ferry to learn more.

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Final Logo Capital Health Tech Summit NVTC (2)The inaugural Capital Health Tech Summit took place on June 15, 2017 at the Inova Center for Personalized Health. Following a series of “flash briefings” highlighting the latest innovations in health tech in Greater Washington, the Summit’s engaging Innovation Panel discussed how the Greater Washington ecosystem can catalyze and invest in innovations like those presented in the briefings. The panelists also discussed opportunities for innovators to work with the federal government to launch their innovations.

Panelists included FDA Senior Innovation Architect and Advisor to the CTO and Director of Innovation Steven Hubbard, U.S. Department of Health and Human Services Acting Executive Director for Innovation, Immediate Office of the Secretary Sanjay Koyani, Dcode42 Founder and CEO Meagan Metzger, and MedStar Health Chief Innovation Officer and MedStar Institute for Innovation Director Dr. Mark S. Smith. Booz Allen Hamilton Senior Vice President Robert Silverman moderated.

Innovation panel v2

According to panelists, Greater Washington is a global leader in health innovation because of its:

  • Wealth of talent: the region’s talent pool is hungry to make a difference in people’s lives
  • Federal government opportunitiess: innovators can make a tangible impact on healthcare by taking advantage of real opportunities to launch technologies in the government (including challenge.gov)
  • Unmatched university and health systems open to embracing new health innovations and incorporating them into practice

The speakers also discussed the need for new partnerships between health systems, the private sector and incubators to spur innovation, and the need for enhanced innovation in the area of home health and preventive care, a booming field.

View full video from the panel:

 

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