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Can marketers help to create new opportunities for unemployed youth?

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Schools of Marketing in the United States are encouraging marketers to “move outside their comfort zones” as COVID restrictions approach a new phase. Youth unemployment in London has climbed by 55% since the start of Covid-19, according to estimates from the Independent and Evening Standard. In addition, over 21% of young people are unemployed and searching for work. In London, one in four women between the ages of 16 and 24 are unemployed, which is higher (5x) than the national rate (Office for National Statistics).

Nearly half (42%) of unemployed young adults in the United States had been out of work for at least six months. Marketers are being urged by the School of Marketing, a marketing education institution centered on skills, to go beyond their own networks to see what they can do to assist young people. Founder Ritchie Mehta believes that marketing can help reverse this tendency in London and around the world, based on the numbers.

Increased number of partnerships

Scalable solutions necessitate multi-sector relationships, which draw on a wide range of expertise. One corporation can work with a local college or university to address its own talent needs, but collaborations between a number of companies and academic institutions can help everyone access better quality talent at cheaper costs and with greater societal benefits. Despite the fact that these partnerships may be more difficult to form, they take into account the largest range of interests.

Put an emphasis on solutions that benefit all parties

The most long-lasting initiatives are those that combine public benefit with private profit. A number of case studies in this article demonstrate how organizations can link external activities with internal organizational goals and combine short- and long-term employee considerations to increase both company and societal impact. Projects that are directly linked to a company’s core business area are more likely to be successful and long-lasting than those that do not.

Chain of value for talent

In any organization or economy, there are critical points in the talent value chain where you may have a long-term impact. For many companies, the transition from college to work is a life-or-death experience for young people and a critical factor in building a talent pool. Before making an intervention, make sure you understand the entire talent value chain and the desired effect on a company.

Keep an eye on the prize by focusing on the future

Jobs and skills interventions can only be successful if they are established using an approach that is proactive and long-term rather than reactive or one that is based on previous successes. Programs that place young people in traditional jobs, like construction, seem pointless if such occupations are expected to be obsolete in the next five years or less. Apprenticeship programs for emerging, high-demand professions might be a better option.

There must be clear goals and measurable outcomes that are communicated to all participants from the beginning. Everyone participating, including the recipients, must also provide qualitative feedback. Learn from the pilot phase, and alter your future activities as needed.

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