WHY INVESTING IN YOUNG TALENT IS CRUCIAL TO THE FUTURE OF YOUR WORKFORCE
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Hannah Wright
HRmatters / www.cphrmb.ca
OVID-19 has affected everyone but there is no denying the lasting effects of the pandemic on the younger generation. With many businesses experiencing an uncertain future as well as cashflow disruption, 2020 hiring for graduate co-ops and apprenticeship programs came to a screeching halt. Unfortunately, between reduced hiring and limited staff resources for training, the unemployment rate for 15 to 24-year-olds has more than quintupled since the start of the pandemic. Fortunately, despite these troubling numbers, there are now reasons to be more optimistic for the future. Businesses are currently stabilizing and adjusting based on the new ‘normal,’ and various governments across the globe are creating incentives for businesses to help the younger generation join the workforce. Not only is this beneficial for younger Canadians trying to gain valuable experience, it has a
positive and transformational impact on businesses as well. FRESH MINDS EQUATE TO INNOVATION
Beyond temporary governmental incentives, there are several reasons why hiring young people makes sense for businesses. New and young employees provide fresh energy and perspectives, while freeing up some of the bandwidth for more senior staff. Along with this, they bring important skills like technological capabilities and understandings. As the younger generation is typically more skilled in technology, their presence also bodes well for championing new and emerging technologies within the organization. This generation is not just able to pick up technologies quickly but can also promote the importance of such tools. Globally, 88 per cent of Gen Z employees believe artificial intelligence can improve their job — an important
