Generation Z
After Generations X and Y, now comes Generation Z also known as Generation M (multitasking), Millennial, Internet or Net. It stands for the group of people born between the early to mid-1990s and the early 2000s. Whilst they may have been brought up in a 'virtual' world (since the rise of the World Wide Web in 1994) they face "real" problems when looking to transition into the workforce and sustaining employment.
Unemployment is disproportionately high amongst young people and the problem has intensified since the economic downturn of 2008. In the 26 OECD countries youth unemployment has reached over 18%; across Europe it is more than 21% on average, with a dramatic peak at around 40% in Spain. Around 10% of these unemployed youth are classified as NEET – Not in Education, Employment or Training. Fears are growing that a so-called "scarred generation" is forming of low skilled and work inexperienced young people.
The economic, social and personal costs of exclusion from the workforce are wide-ranging and affect not only youth, but entire societies and economies. The effects are already mirrored today in developed economies, hit hard by the economic downturn, unmasking the mismatch between education systems and labour market needs, in an era of growing worldwide skill shortages.
All of society is a stakeholder in this issue and action is afoot. The OECD's "Jobs for Youth" initiative launched in 2006 calls for short term entry level jobs to act as a stepping stone into more stable jobs. The European Commission's 'Youth on the Move' initiative, launched in 2010, aims at 'unleashing all young people's potential and achieving the Europe 2020 objectives'. Temporary work is one of the solutions to bringing young workers into the labour market, recognized by the EU-Commission and many Governments. While training is key to every worker, it is of particular importance for young professionals. The Adecco White Paper "Two worlds collide? Bringing Copenhagen to Bologna" showcases how countries with dual educational systems lead to better integrated young professionals and thus lower levels of youth unemployment.
Helping Generation Zs successfully transition into the labour market, sustain their employability and develop careers is at the heart of our operations. Over half of the associates whom we place in work are under 25 years old. The majority of our placements are in temporary roles, be it in low skilled or highly qualified positions, providing a stepping-stone into the labour market and a route to gain experience. In 2006, DIS AG in Germany began partnering Lufthansa's training arm 'TRAINICO', by placing young associates in their occupational apprenticeship programme. Through the scheme, DIS AG pays the apprentice's salary and acts as mentor, helping them acquire valuable skills and qualifications and enhance employment prospects. The success of the scheme was one of the reasons why the Adecco Group Germany acquired part of 'TRAINICO' in March 2011. Every year, TRAINICO trains around 2,000 people for a wide range of roles within the aviation industry.
Learn more from the Adecco whitepaper "Bringing Copenhagen to Bologna"