Oklahoma Employment Security Commission (OESC) Market Research Report

Background

Overview

The Oklahoma Employment Security Commission (OESC) is a state agency established in 1941 to provide employment security services aimed at promoting and developing Oklahoma's business landscape. Funded entirely by the federal government, OESC offers a range of services to both employers and job seekers across the state.

Mission and Vision

Mission: Connecting Oklahomans to the workforce through reliable and innovative services for a more prosperous Oklahoma.

Vision: Empowering Oklahomans to work and live well.

Primary Area of Focus

OESC focuses on providing workforce-related services, including unemployment insurance, job matching, and labor market information, to support both employers and job seekers in Oklahoma.

Industry Significance

As a key component of Oklahoma's workforce development infrastructure, OESC plays a critical role in maintaining the state's employment stability and economic growth.

Key Strategic Focus

Core Objectives

Unemployment Insurance: Administering unemployment benefits to eligible individuals.

Job Matching Services: Connecting employers with qualified job seekers.

Labor Market Information: Providing data and analysis to inform economic decision-making.

Areas of Specialization

Employer Services: Assisting businesses with unemployment contributions and workforce development.

Individual Services: Offering support for job seekers, including resume building and job search assistance.

Key Technologies Utilized

VerifyOK: An identity verification system to prevent unemployment fraud.

EmployOklahoma.gov: A job-matching platform connecting employers with job candidates.

Primary Markets Targeted

Employers: Businesses seeking workforce solutions and compliance assistance.

Job Seekers: Individuals looking for employment opportunities and career development resources.

Financials and Funding

Funding History

OESC is funded entirely by the federal government, with no state appropriations. This funding structure allows the agency to focus on its mission without state budget constraints.

Recent Funding Rounds

Specific details about recent funding rounds are not publicly disclosed.

Notable Investors

As a government agency, OESC does not have investors in the traditional sense.

Utilization of Capital

The capital is utilized to enhance and expand services for both employers and job seekers, including technological upgrades and program development.

Pipeline Development

Key Initiatives

VerifyOK System: Launched to combat unemployment fraud and streamline claims processing.

EmployOklahoma.gov Platform: Introduced to improve job matching between employers and job seekers.

Target Conditions

These initiatives aim to address challenges such as unemployment fraud, inefficient job matching, and the need for enhanced labor market information.

Timelines for Anticipated Milestones

VerifyOK: Implemented in December 2020, with ongoing updates to improve functionality.

EmployOklahoma.gov: Launched in January 2025, with continuous enhancements planned.

Technological Platform and Innovation

Proprietary Technologies

VerifyOK: A digital identity verification tool that validates identification documents against government data to prevent unemployment fraud.

EmployOklahoma.gov: A job-matching platform designed to connect employers with skilled job seekers.

Significant Scientific Methods

Data Analytics: Utilized to analyze labor market trends and inform decision-making.

Machine Learning: Employed in fraud detection systems to identify suspicious patterns.

Leadership Team

Key Executives

Shelley Zumwalt: Executive Director, responsible for overseeing OESC's operations and strategic direction.

Trae Rahill: Chief Executive Officer, leading the agency's initiatives and partnerships.

Professional Backgrounds

Shelley Zumwalt: Brings extensive experience in public administration and workforce development.

Trae Rahill: Has a background in economic development and public policy.

Key Contributions

Shelley Zumwalt: Spearheaded the implementation of the VerifyOK system to combat unemployment fraud.

Trae Rahill: Initiated the launch of EmployOklahoma.gov to enhance job matching services.

Competitor Profile

Market Insights and Dynamics

The market for employment security services is influenced by factors such as unemployment rates, economic growth, and technological advancements. OESC operates in a competitive landscape with other state agencies and private sector companies offering similar services.

Competitor Analysis

State Agencies: Other state employment security commissions provide similar services, creating a competitive environment for resources and talent.

Private Sector: Private companies offering staffing and recruitment services also compete with OESC in connecting employers with job seekers.

Strategic Collaborations and Partnerships

Significant Collaborations

U.S. Department of Labor: Collaborates with OESC to ensure compliance with federal employment laws and to receive funding for unemployment insurance programs.