In the coming decade, 50 percent of jobs will either change dramatically or undergo a skills overhaul.
Helping the youth of today put their best foot forward as they step into the workplace of the future — that’s the ultimate goal of RBC Future Launch. A 10-year, $500 million commitment to help empower Canadian youth for the jobs of tomorrow, RBC Future Launch marks the largest commitment to a social issue in RBC history, and for good reason. Our economy and job market are being transformed more rapidly than ever before as a result of technology, innovation and automation, and the tremendous pressures of these changes are taking a toll on young Canadians. Despite many young people spending more time and money on education and generally having more credentials than past generations, today’s youth are facing increased barriers and challenges when it comes to securing meaningful employment.
Only 34% of employers believe youth are prepared for the workforce.
Addressing the “quiet crisis”
According to Statistics Canada, while the youth unemployment rate is comparable to that of the mid-1970s, there are significantly fewer young Canadians who hold full-time or permanent jobs, and overall job quality in many cases has deteriorated. In recognizing the responsibility to help better prepare young individuals for the changing workforce and for the future of work, RBC Future Launch aims to address three critical barriers young Canadians currently face: a lack of experience, a lack of relevant skills and a lack of professional networks.
85% of all jobs are filled via networking.
To help overcome and dismantle these barriers, RBC Future Launch seeks partnerships with companies and organizations in both the public and private sectors, and collaborates with government and educational institutions, to co-create long-term solutions and support. Through these partnerships and efforts, the program focuses on increasing access to work-integrated learning experiences; developing current, competitive and lifelong skills and skill sets; and helping youth grow their networks by providing access to valuable networking opportunities. And further to the financial investment, RBC Future Launch is committed to raising awareness through research, speaking and convening in meaningful ways, as well as bringing people together to further understand the issue in order to find the best methods and paths towards making a significant positive impact on the lives of young Canadians.
The Canadian economy will create 2.4 million new jobs between now and 2021 — but almost all of them will require a different approach.
Providing support and fostering change
At the very core of what RBC strives for as an organization is helping clients thrive and communities prosper. RBC Future Launch represents an important avenue through which to achieve and deepen this core purpose, providing a strong catalyst for positive change by working alongside young people and youth-focused partners.
Four million Canadian youth entering the workforce over the next decade are going to need a foundation of skills that sets them up for many different jobs and roles rather than a single career path.
Faced with this fast-shifting world of work, it’s important for everyone to recognize that prosperity for all Canadians over the long term — and remaining competitive in the global economy — is directly linked to our ability to get some big things right and to help prepare young people to succeed. And during this time of change, Canada’s greatest strength will be its youth, so the time is now to invest in the generation that will shape Canada’s future.
For more information, please visit the RBC Future Launch website
Note: Statistics courtesy of the RBC Humans Wanted report, 2018; McKinsey, April 2015; The Adler Group, February 2016.
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