Generation, the global non-profit organization for employment, formed in 2014 by McKinsey & Company to help reduce skills mismatch and youth unemployment, has partnered with BlackRock to accelerate the fight against unemployment in 14 countries across Worldwide. Italy included. The goal is to enable Generation to support people facing systemic barriers to employment, especially young adults and mid-career workers, as Covid continues to threaten jobs and global economic growth. . Thanks to the new resources, Generation and its partners, including in addition to BlackRock, McKinsey & Company, Microsoft Corp. and Verizon, will support 75,000 people over the next two years, helping them enter the world of work.
La partnership
BlackRock’s commitment includes funding, direct resource support and connections with employers in their ecosystems for Generation members. He says he is satisfied with the initiative started with Generation also for the kind of feedback that the country head Italy BlackRock, Giovanni Sandri has had: “BlackRock entered the project because it is consistent with its objectives of being able to help people to be stable from financial point of view. One of the main reasons that prompted us to join the initiative is related to the pension issue. Unfortunately, there are a large number of people who are denied the possibility of creating a future and having financial stability. We also approached Generation to bring people we cannot approach. Italy suffers from a very high level of unemployment among young people, which is accompanied by an inconsistency between supply and demand. In short, the problem is not always the lack of work, but the fact that there is a lack of qualified people. Whatever the job you do, companies are looking for specialization and the Italian system is struggling. Compared to other systems, the school should be closer to the labor market ”.
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Support for 75,000 people over the next 2 years
With the new funding, Generation and its workforce partners, including McKinsey & Company, Microsoft Corp. and Verizon, among others, will support 75,000 people over the next two years and help them enter the world of I work to provide them with stable income and help them transform their lives and communities. In addition, these grants will support Generation in its initiative of a new global research to deepen programs for the workforce, employers and policy makers.
40,000 young people already trained with 85% success rate
To date, Generation has trained 40,000 young people in its employment programs in 14 countries, with a focus on 30 professions spanning four sectors: technology, healthcare, customer service and skilled commerce. 93% are unemployed upon enrollment in the program while 84% are employed within 3 months of completing the program. Focusing on Italy, Oscar Pasquali, General Manager of Generation Italia, says that “Generation was born in 2018 and to date has trained more than 1,500 young people with a very high employment rate: Generation’s success rate in entering the world of the work of young people attending the courses it organizes is 85%. Our courses are focused on different areas, that is, sales staff in the retail sector, catering and hospitality professionals, digital skills with software developers in the Java and in the salesforce sector, manufacturing where we train figures such as the numerical control machine operator. . These are 5 programs to be able to help children aged between 18 and 29 who are the real losers of recent years in which the unemployment of young people and the inactive has started to increase again, that is, those who no longer even seek the work. The risk is that there is a lost generation ».
The impact of the pandemic on employment
Large-scale economic and social changes resulting from the global pandemic have exacerbated the problem of unfair employment opportunities. The impact is expected to lead 47 million women and girls to extreme poverty, while more than one in six young people are already out of work. This new global partner axis will work with thousands of partners from the public, private and social sectors to contribute to an inclusive recovery of jobs. «In BlackRock the project had a strong attraction, even though all the people were very focused on their projects and objectives. Many colleagues, aware of the employment problem and the gap between supply and demand, made themselves available to make a contribution to the success of the initiative ”, explains Sandri.