Making Youth Employment Work for Businesses and Young Adults
What is the current situation? There are nearly 5.5 million young adults both out of school and out of work. More so, the underemployment rate among recent college graduates stubbornly hovers around 45%. Put simply, the United States is experiencing a serious disconnect between what employers need and what prospective employees are able to do. Now is the right time to explore new solutions for preparing talent on a national scale.
Beginning in 2014, the U.S. Chamber of Commerce Foundation (USCCF) advanced an employer-led approach to education and workforce partnerships by leveraging lessons learned from supply chain management. Just as supply chains create a network of partners working together to meet a common end goal, key to the Talent Pipeline Management (TPM) initiative is the business community organizing the right partners to meet a common objective.
Recently, USCCF released a new report titled Talent Orchestrators: Scaling Youth Employment Through Business-Facing Intermediaries. It leverages TPM’s demand-driven approach to reimagine how employers and education providers can work together to increase work-based learning and entry-level employment opportunities for young adults. Specifically, the report outlines how intermediaries—organizations that connect business and youth—are well positioned to coordinate interactions that address human capital needs while creating opportunities for aspiring youth. However, they traditionally face three main barriers to expanding youth employment efforts:
- Obtaining employer buy-in: Intermediaries spend a substantial amount of time brokering relationships with employers to take on interns or employees. But successful onboarding of new employer relationships or maintaining current ones is often met with mixed results.
- Making a good match: Intermediaries often experience a mismatch between the supply and demand for talent, making it difficult to meet the needs of employer and young adults alike.
- Ensuring that youth can add value on day one: With the decline in low-skilled jobs, intermediaries face more pressure to find youth with the skills and competencies that add value to the employer partner at the outset.
- Creating shared value. Intermediaries can focus on serving employers well without sacrificing their mission to support young adults—a win-win for all stakeholders.
- Managing talent sourcing. Intermediaries not only identify talent, but they manage a wide network of proven partners training in-school and out of school youth.
- Providing training and credentialing support. Effective intermediaries deliver to both youth and employers the necessary job-specific training and supports for a successful youth employment experience.
The GradsofLifeVoice Forbes team provides thought leadership, research and expert commentary on innovative talent pipelines and related issues such as the skills gap, income inequality, workforce diversity, and the business case for employment pathways. We seek to change employers’ perceptions of young adults with atypical resumes from social liabilities to economic assets. This post was originally featured here.
Innovation, Skills Gap, Workforce Development,
Related NewsView All News
Hotel Trade Groups Seek Solutions To Labor-Shortage ProblemJanuary 30th, 2018 | By Grads of Life
LOS ANGELES -- At the Americas Lodging Investment Summit (ALIS), U.S. and Canadian hotel trade groups announced programs to...Read More
More Than What's On Paper: Being Empowered By ChangeSeptember 6th, 2017 | By Grads of Life
What I remember most about my school years was playing video games. I don’t remember exactly what my first video game was...Read More
Career Readiness: Whose Responsibility Is It, Anyway?August 30th, 2017 | By Grads of Life
A funny thing happens during the time students begin to wrap up their college and career-preparation programs and prepare to...Read More