YOUTH skills for inclusive societies
71 million young people are estimated to be unemployed, and half of them reside in the Asia-Pacific region.
Youth in the region are 5 to 7 times more likely to be unemployed than their older counterparts at the same level of education, according to research by the UNDP. An astonishing 1/3 of youth in the region - around 220 million - are neither in school nor have a job.
Structural unemployment and skills mismatch affect all regions around the world, impacting economies and hampering the transition to equitable and inclusive societies as envisaged in the 2030 Agenda for Sustainable Development.
That is why, Youth Co:Lab - the regional youth entrepreneurship initiative co-led by the United Nations Development Programme (UNDP) and Citi Foundation, is positioning young people front and center in order to solve the region’s most pressing challenges. The initiative aims to instigate, catalyze and sustain youth leadership, innovation and entrepreneurship skills by supporting the region’s youth-led startups and social enterprises.
invest in the development of young people's skill
we are "skilling"it
To observe World Youth Skills Day on 15 July 2018, United Nations Development Program (UNDP) Asia-Pacific and Citi Foundation co-led the #SkillOurFuture campaign to raise awareness about the opportunities and challenges that youth face in Asia and the Pacific. This campaign supported the important work that UNDP, Citi Foundation and partners are doing through the Youth Co:Lab regional initiative to skill young people in the areas of youth leadership, social innovation and entrepreneurship.
#SkillOurFuture 2018 was the first step in activating a collaborative effort by different stakeholders to invest in strengthening the skills of young people.
why invest in youth?
Every business or organization needs an injection of new talent, new ideas and new skills to stay competitive. When you create opportunities for young people, you create new opportunities for your own business.
what are the benefits?
Young people bring lots of benefits to the workplace – enthusiasm, a willingness to learn, a fresh perspective, new ideas, and a direct connection to a youthful customer base. They are cost-effective to recruit and train, flexible, quick to adapt to an organization’s culture, and they can form a crucial part of its talent pipeline and succession planning strategy.
There is no doubt that employing and training young people will provide a potential stream of talent to become tomorrow’s leaders and managers. They add fresh energy to the workplace and innovative ways of working. More experienced members and staffs also have the opportunity to pass on their skills and knowledge, which can be highly rewarding as well.
Businesses benefit from new talent, and new ideas. Skills gaps can be filled and skills shortages averted. In the long-run, this philosophy of "grow-your-own" can help raise quality, reduce recruitment costs and improve competitiveness for businesses.