Message from Roundtable Staff

The mid-point of 2025 coincides with two important Roundtable initiatives. First, we released our 5th Annual Talent and Competitiveness Survey, in partnership with McKinsey, which revealed growing concern about the Commonwealth’s ability to stay competitive—with many citing rising costs, talent challenges, and national uncertainty as key barriers to growth. Yet, despite these headwinds, employers highlighted opportunities for the state to lead nationally in AI and innovation—if we can close critical talent gaps, foster strategic partnerships, and embrace creative, novel solutions.

Our work going forward will be framed by the member-driven findings from the survey: continued attention and prioritization of the competitiveness issues driving the cost of living, cost of doing business, and outmigration of talent; and renewed focus on building partnerships and advancing policy areas, like AI, where Massachusetts has an opportunity to be a national and global leader.

Second, we are embarking on our 15th year of Summer Meetings, an opportunity to meet one-on-one with every Roundtable member to discuss two fundamental questions: What is happening in your company, in your industry, and the economy? And, how can the Roundtable improve to ensure we are delivering value to our members? This exercise is critical in keeping our agenda fresh, ensuring we represent the views of our members, and keeping our finger on the challenges and opportunities around the state’s economy. We are grateful for Roundtable members’ continued engagement in this effort.

If there’s ever been a time for the business community to stand up and work with the public sector to protect our economy, it is now. Guided by input from our members—from the Survey, Summer Meetings, and other opportunities for engagement—the Roundtable stands ready to do just that.

Thank you for your continued support of the Roundtable!

JD, Tonja, and Lauren

Talent and Competitiveness Roundup

Finding Opportunities in Uncertain Times

Now in its 5th year, the Roundtable in collaboration with McKinsey & Co. surveyed and interviewed members in May and June of 2025 to gain the latest insights on talent and economic competitiveness issues. In short, the survey found growing concern about the Commonwealth’s ability to stay competitive—with many citing rising costs, talent challenges, and national uncertainty as key barriers to growth. Despite these headwinds, employers also point to opportunities both to lead nationally in AI and innovation; and to foster new partnerships and alliances aimed to generate novel ideas and think innovatively and differently about solving problems. Read the 5th Annual Survey.

Key Findings Include:

Federal uncertainty is reshaping decisions: Over three-fourths (76%) of employers cite tariffs as a strategic concern, and 71% are worried about shifting federal policies—more than double the share from last year. Additionally, 67% expect tariffs to increase macroeconomic uncertainty. One in four companies is pausing hiring or investment, and more than half are delaying expansion plans due to this uncertainty.
Employers are shifting where talent is based: Over 85% of employers now report having at least some staff based outside Massachusetts—up from approximately 75% last year and 70% the year before. Hybrid and remote work have become lasting elements in the talent strategy playbook.
Employers are concerned about the cost of living and are investing in talent to stay competitive: To compete for talent, 73% of employers have increased salaries to match cost of living and market benchmarks. In fact, 74% indicate that the cost of housing is having a negative impact on their ability to recruit and retain talent. Additionally, nearly two-thirds (63%) are offering professional development and training, and about half are improving benefits (57%), expanding flexibility (49%), or providing mentorship and sponsorship programs (49%).
AI is becoming a core lever for performance and productivity: 88% of employers believe AI will boost the economy, and 81% say it will aid in hiring and retention. Adoption is accelerating, with 35% citing it as a top strategic trend for 2025.
Employers are ready to collaborate to keep Massachusetts competitive: Nearly 75% of employers are interested in collaborating—with other businesses or the state—especially in areas like AI, workforce development, and developing talent pipelines. Many see this as a moment to reset the relationship between business and government.

Media coverage of the survey included: The Boston Globe, Boston Business Journal, a webinar conducted in partnership with the Greater Boston Chamber of Commerce, and an OpEd by JD Chesloff and Roundtable Board Chair Lisa Murray in CommonWealth Beacon.

Advancing the State's Competitiveness

Roundtable Submits Testimony on Talent Agenda Priorities

This quarter, the Roundtable submitted testimony on a number of pieces of legislation that align with the Roundtable’s Talent Agenda to Improve Massachusetts’ Competitiveness, including:

H.2080/S.1326, An Act to promote economic mobility through ESOL: The Roundtable submitted testimony in support of increased investment and coordinated statewide strategies for English for Speakers of Other Languages (ESOL) programs. The Roundtable urged targeted investments in ESOL programs to “prioritize programs focused on training workers with the English language skills needed to fill in-demand jobs... and provide career opportunities to help to ensure employers statewide have the diverse talent they need to grow and thrive.” Read the testimony here.
H.78/S.45, An Act establishing the Massachusetts Data Privacy Act: The Roundtable submitted testimony opposing various bills intended to create a Massachusetts Data Privacy Act. The Roundtable warned that while we “recognize the importance of data privacy and support adopting a consistent, thoughtful, and comprehensive approach to safeguarding consumers’ privacy, expanding consumers’ rights, and protecting personal information…we are concerned that adopting a unique Massachusetts-only law would be extremely burdensome on employers and cause significant unintended consequences for our members who not only operate in Massachusetts but also around the country and world.” Read the testimony here.
H.54, An Act to build resilient infrastructure to generate higher-ed transformation (The BRIGHT Act): The Roundtable submitted testimony in support of $2.5B in new capital resources for public higher education institutions statewide to modernize campuses and facilities, accommodate student demand, and support economic and workforce development. The Roundtable noted that "an important part of growing and nurturing our state’s talent includes investing in the public institutions that educate them.” Read the testimony here.
H.4144, An Act relative to energy affordability, independence and innovation: The Roundtable submitted testimony in support of “energy ready” economic development zones designed to promote business attraction and expansion. The Roundtable also supported a process to “develop long-term solutions to address delays in connecting new electric customers to the electric grid for the purposes of economic development and housing.” Read the testimony here.

Quarterly Board of Directors Meeting

Québec’s Minister Skeete and Mark Williams Join June Board Meeting

On June 17, the Roundtable hosted a quarterly meeting of the Board of Directors. We were joined by Christopher Skeete, Québec’s Minister of the Economy and Minister Responsible for the Fight Against Racism, who shared insights into the trade relationship between Massachusetts and Québec. The meeting also featured Mark Williams, Master Lecturer at Boston University’s Questrom School of Business, who provided an overview of how federal policies are currently impacting Massachusetts’ economy and how these policies could affect the state’s economic future. Roundtable President & CEO JD Chesloff wrapped up the meeting with a sneak preview of the 2025 Talent and Competitiveness Survey and discussed opportunities for Massachusetts to strengthen its talent pipeline and overall competitiveness. It was an engaging meeting that fostered thoughtful conversation around shaping the state’s economic future.

Welcome to the Roundtable

Please join us in welcoming new members who joined the Roundtable this past quarter!

Fred Clark

President

Bridgwater State University

Robert Covino

Managing Director

UBS Financial Services

Maggie Orr

Managing Director and Partner

Boston Consulting Group

Edward Rios

Partner

BAL

Open Forum Recaps

APRIL OPEN FORUM

At the April Open Forum, the Roundtable featured a conversation about what is next for housing. The discussion served as an avenue for members to learn about how the business community can be involved in addressing the housing crisis and efforts by the Citizens’ Housing and Planning Association (CHAPA) and One Commonwealth to facilitate the implementation of both the MBTA Communities Act and the Affordable Homes Act. Members also learned more about the One Massachusetts Campaign and One Commonwealth.

MAY OPEN FORUM

The May Open Forum provided members the opportunity to receive a sneak peek and provide additional input into the Roundtable’s 5th Annual Talent and Competitiveness Survey. We were joined by Lucy Pérez, Senior Partner, McKinsey; Mekala Krishnan, Partner, McKinsey Global Institute; and Alec Wescott, Head of External Relations, McKinsey. Positive themes that began to emerge from the survey found that Massachusetts remains an education and technology innovation hub, ranked as a top state for health and education. However, headwinds around stalled growth, outmigration, and high costs were highlighted. At a pulse poll taken during the Open Forum, a majority of members (64%) expressed pessimism about the future of the Commonwealth’s economy, while 21% expressed optimism and 14% were neutral. Key challenges identified by members included: the cost of living (57%); federal actions (50%); cost of doing business (36%); business tax (21%); quality of infrastructure (14%); access to diverse talent (14%); income tax (7%); access to industry clusters (7%); other (21%).

JUNE OPEN FORUM

At the June Open Forum, we were joined by Roundtable member Edward Rios, Partner at BAL, to discuss ongoing federal immigration polices and how companies should prepare. Edward focused his remarks on four key areas, including: the current policy trends impacting immigration; preparing for increased worksite enforcement; budgeting for increased processing times; managing travel challenges and visa restrictions; and reviewing internal immigration policies. Review Edward’s PowerPoint from the Open Forum.

Going Around the Table

Sharing a few highlights from member companies!

Berkshire State of the Workforce Summit: Roundtable President & CEO JD Chesloff was honored to return to his hometown in the Berkshires as the keynote speaker at the Berkshire State of Work Summit. Hosted at the iconic Koussevitzky Arts Center on the campus of Berkshire Community College, more than 200 workforce, education, business, nonprofit, and government leaders gathered to address the workforce challenges facing Berkshire employers. JD shared ideas for how employers and employees can meet the moment that we are in, tackle challenges, look for opportunities, and help workplaces thrive.

Citizens Hosts Panel on Building a Resilient Innovation Economy: The Roundtable was honored to co-host an event with Roundtable member organization Citizens and MassChallenge on Future-Proofing Massachusetts: Building a Resilient Innovation Economy. The conversation focused on identifying local solutions to drive Boston’s innovation economy forward and exploring how institutions can collaborate to drive economic impact and keep local talent in Massachusetts. The event began with a welcome from Citizens Massachusetts President, Lisa Murray, followed by a panel discussion, moderated by JD Chesloff, featuring Citizens Chairman and CEO Bruce Van Saun, Mark Casady, Co-Founder of Vestigo Ventures, Caitlin Reimers, CEO, MassChallenge, and Sundai Co-Founder, Artem Lukoianov. See additional photographs from the event.

New Takeda Partnership to Promote Healthy Eating: In April, Roundtable member organization Takeda announced seven new U.S. nonprofit partners, all focused on providing greater access to nutritious food and science, technology, engineering, and math (STEM) education in their communities. Included in these new partners are Massachusetts-based organizations Daily Table and Fresh Truck. Takeda will also be supporting The Young People’s Project and Learn Fresh to bring their programming to Massachusetts. Supporting these partners is just one part of Takeda’s U.S. Community Health team’s holistic approach to creating long-term community health through equitable access to quality health, nutritious food, and STEM education. You can read more about Takeda’s long-term commitment to communities in their newly released Community Impact Report.

TD Bank Opens Branch in Nubian Square: Congratulations to Roundtable member Sheryl McQuade of TD Bank on the new branch they opened in Nubian Square. The beautiful space, which was celebrated with a ribbon cutting attended by elected and community leaders, also includes a community room with locally sourced art. Congratulations to the entire TD Bank team on this incredible new space for TD Bank and the Roxbury community!

AT&T Launches New Digital Safety Resources: Ed Donnelly, from Roundtable member organization AT&T, penned an OpEd about a new AT&T initiative to get digital safety resources to domestic violence survivors. Launched in February in Boston, the initiative aims to empower survivors with information to more securely engage with essential technology. Read the OpEd.

UMass Announces New Early College Programs: Roundtable member organization UMass announced in June that new early college programs at UMass Boston, UMass Dartmouth, and UMass Lowell received state approval, expanding the way for seven new early college programs at these schools. Early college gives high school students opportunities to earn transferable college credits for free, with some students in Massachusetts earning up to two years’ worth of college credits before they graduate high school. A 2023 study from MassInc showed that early college doubles the likelihood that students enroll in college and persist in higher education. Through our Talent Agenda, the Roundtable supports early college programs as a proven pathway to connect youth to opportunities at public and private higher education institutions statewide.

SUMMER INTERN: The Roundtable is thrilled to be hosting an intern this summer. Please join us in welcoming Austin McCarthy to the Roundtable team! Austin McCarthy is a student at Wesleyan University studying Economics with a minor in Data Analysis. At Wesleyan, he is a member of the varsity football team and the investment group. Austin has been a Massachusetts resident his whole life, and he graduated from Catholic Memorial High School in 2023. Through his internship with the Massachusetts Business Roundtable, he looks forward to gaining insight into how the state’s business community responds to a changing economic landscape. Welcome, Austin!

Expanding the Table

Roundtable initiatives promoting diversity, equity, and inclusion in the workplace

Roundtable Reflects on ResilientMass Summit at UMass Boston: Roundtable team members Lauren Nwagboli and Rebecca Yemo penned their reflection after attending the ResilientMass Summit held this spring, which was hosted by Roundtable member organization UMass Boston. Read their reflections .

National Business Roundtable Launches New Resources to Strengthen Employer-Educator Partnerships: The National Business Roundtable recently released a new playbook to help employers partner with educators to build workforce development programs aimed to fill in-demand jobs. The resource is part of BRT’s Workforce Partnership Initiative (WPI) and provides a detailed roadmap for employers and higher education leaders to address the dynamic employment environment. This provides a great example of how employers can work directly with local two- and four-year universities to build talent pipelines and ensure they have the talent they need to grow and thrive. Read the full playbook .

Roundtable Sponsors Health Equity Summit: On June 11, Roundtable staff attended the Health Equity Trends Summit, hosted by the Health Equity Compact. The Summit focused on the opportunities to advance health equity across Massachusetts despite the current challenging climate. Held at the John F. Kennedy Presidential Library and Museum, the Summit brought together a diverse group of leaders from across the Commonwealth, including government officials, community-based organizations, health systems, and advocates. We heard from an incredible lineup of speakers who shared collaborative strategies for how stakeholders can align their efforts and accelerate progress toward a shared “North Star,” which is achieving health equity for all residents of Massachusetts.

Upcoming Events

The MassSkills Coalition, of which the Roundtable co-chairs, is currently holding virtual Learning Communities on proven strategies for skills-first hiring, upward mobility, and data & measurement. The MassSkills coalition, launched by Governor Healey in 2024, brings Massachusetts employers together, from every sector across the state, who are committed to sharing, learning, reimagining, and implementing new ways to access, hire, train, upskill and retain talent. These Learning Communities aim to be a space for HR leaders from talent management, workforce innovation, learning and development, etc., to learn from one another. Roundtable member companies are encouraged to participate. Engaging and important sessions being held this summer. Register now for the Skills-First Hiring series; the Upward Mobility series; and the Data and & Measurement series. We encourage you to share these informative sessions with HR and talent leaders in your organizations.

The Partnership’s Next Generation Executive (NGE) Program is now accepting nominations for the Class of 2026. Designed for high-performing Directors, VPs, and other senior leaders recognized for their C-suite potential, this intensive program provides strategic insights, skills, and a diverse national peer network for executives to advance and lead effectively at the highest levels. In a survey of the 2025 cohort of 60 leaders from 15 states, 100% of participants said the program helped them become more strategic leaders, and 94% reported a positive impact on their career progression. Participants benefit from world-class faculty, personalized executive coaching, and a national cross-sector peer cohort. HR, Talent, and Executive Sponsors can explore the program and submit nominations at thepartnershipinc.org/NGE2026. For questions, contact Claire Cooper, VP of Business Development, at ccooper@thepartnershipinc.org. Applications close September 22.

The Roundtable is pleased to join the Workforce Solutions Group for the 16th Annual MA Jobs & Workforce Summit on Thursday, September 25 at Northern Essex Community College. This year’s theme is "Strength in Skill: Empowering Massachusetts’ Workforce for the Future" and will be an opportunity to focus on our progress, our successes, and what we can do now and in the future. Learn more and register here.