Let’s work together to create youth employment opportunities around the world

David Henderson, Group Chief Human Resources Officer, Zurich, shares more about youth employment opportunities in the future.

As a graduate, I had my fair share of rejection letters and with them sleepless nights. To make matters worse, I was also in a difficult financial position, having taken on debt to self-fund my further education. It was a stressful time. Eventually, I was accepted into what turned out to be a wonderful graduate traineeship program with British Steel. There, I gained practical skills and early responsibilities, which were the foundations for my career. I will be eternally grateful for finding that important first step.

Today’s challenges facing young people leaving school or departing further education are much greater than I faced. Youth unemployment levels are rising faster than all other segments, in a weakening global economy, reeling from the impact of Covid-19, and increased geo-political risk. As companies scale back youth employment programs, the surplus of demand over supply rapidly widens.

It’s somewhat comparable to the last global financial crisis that peaked almost a decade ago. Back then, in certain parts of world, the impact of the global recession was felt severely among those aged 16-24. Despite having the skills and aptitude to work, many struggled to secure entry level employment, resulting in mass social exclusion, a failure to build foundational skills and blocked career paths as jobs evaporated. The long-lasting impact of adverse social and mental health issues led to talk of a ‘lost generation’ who would remain poorer than earlier generations for the rest of their lives.

Today there are different but equally tough challenges for young people. In a recent OECD survey of 15 to 24 year-olds from 48 countries, their first concern from the COVID-19 pandemic was the impact on their mental health, followed by worries about employment and disposable income.

At Zurich we remain committed to our youth employment programs. Aligned with the World Economic Forum goals for bridging impending skill gaps, our apprenticeship programs host more than 400 young people at different development stages around the world. We also offer vocational and technical qualifications, including internships and involvement in projects, actively hosting recruitment events, and school and local community outreach, particularly in deprived areas. Our apprenticeship programs include three-year ‘earn while you learn’ opportunities, providing a debt-free pathway to a professional career, and, in some cases, can lead to a university degree or actuarial and data science qualifications; in other cases, training can lead to a role within the local business.

We are committed to creating a youth-friendly workplace, embracing young workers’ ideas, enthusiasm and innovation, and our ‘Next Gen’ program ensures that young people have a seat at the table for key meetings. With our focus on core career skills, we are determined to counter youth unemployment, encouraging school internship applications and offering in-house training on how to improve application documents and personal presentation skills.

In these challenging times, despite being faced with additional pressures on expenses, we must adapt and commit to investing in the young. This is not just good business, it also the right thing to do for the benefit of generations to come and is part of our broader commitment to sustainable careers that strengthen and invigorate our industry. I sincerely hope we continue working together within our industry to promote youth employment opportunities around the world: these are deserving of our ongoing support and global collaboration. Together I am confident we will make a difference.

#zurichneverstops #lifeatzurich #nextgeneration

Awards

Universum 2020 | Presidential Award | Brandon Hall Group

“Zurich Insurance Group has been ranked as one of the most attractive employers in Switzerland for next generation talent.”