UN recently released its latest report around worldwide unemployment, which found that unemployment among 15-24 year olds is set to surge to 71 million this year.  While this might imply there are not enough jobs available for graduates and young professionals, the real issue comes down to a shortage of skills.

Andy Campbell at, HCM Strategy Director at Oracle says: “Over the next 15 years, businesses will struggle to maintain and build a skilled workforce. They will watch their aging employees gradually retire, and will need to recruit fresh young talent to take up the mantle. And while the UN’s findings suggest there are many potential recruits to choose from, a growing proportion of young people simply haven’t developed the skills required in today’s job market. 

Businesses must rethink their employment strategies today, before it’s too late. They need a framework in place for skilled employees to pass down their knowledge to young recruits. This was reflected in a recent survey commissioned by McDonald’s, their research found that those employees working in a multi-generational environment are 10% happier than those who worked with a peer group of similar age. Not only does this demonstrate the importance of passing skills through the company, but also the benefits of offering younger employees the opportunity to learn new skills from experienced employees. 

Companies also need to put more energy into moulding young people with raw talent. Putting into place knowledge-sharing programmes, self-service information resources, and mentoring initiatives will be crucial in helping young employees build up their skillset. Our own research also found that nearly 80 percent of young employees want regular discussions with line managers about their career path. They want to feel the business is genuinely invested in their professional development. 

It will fall to HR leaders to spearhead these initiatives, both through new strategic approaches and the use of HR technologies allowing them to foster a culture of learning and development across the organisation. With this in mind, we would like to offer you an interview with Andy to discuss how businesses should be adapting their recruitment and training strategies today to build a skilled workforce and maintain their success well into the future.