Publication: Daily Maverick
Author: Unspecified, Sponsored content
Photograph: YES Alumni
More than 2,800 unemployed young people entered the world of work as Nedbank inducted its 2023 cohort into the Youth Employment Service (YES) programme at the bank. This brings the number of work experience opportunities created by Nedbank since 2019 to almost 10,000.
“Each of the 2,818 young people who join the 2023 Nedbank YES programme this morning will access the very best on-the-job training, development and mentorship available. This is an opportunity to hone their skills and gain valuable work experience,” said Deb Fuller, group executive for human resources at Nedbank.
This year’s cohort has been assigned to roles both in Nedbank and our implementation partners. They will gain experience in the jobs of the future, including renewable energy (solar installation), wildlife conservation, agriculture and education, as well as in corporate roles within the bank.
“Given technological advancements and South Africa’s pressing need for people skilled in renewable energy, agro-processing and other high-growth sectors, we are pleased to place our YES Youths with partners working in strategic focus areas for us,” Fuller added. “These implementation partners support both the country’s priorities as well as Nedbank’s strategic focus areas, helping us to reach sustainability targets and meet the needs brought about by digital disruption and changes to the world of work.”
The YES initiative resonates with Nedbank’s purpose, which is to use our financial expertise to do good for individuals, families, businesses and society, and provides the perfect platform to do our bit to reduce devastatingly high levels of youth unemployment, said Fuller. This year’s implementation partners include Afrika Tikkun, the Africa Foundation, GWK, KP Cares and WILDTRUST, and are based in Gauteng, KwaZulu-Natal, the Eastern Cape, the Northern Cape, North West and Mpumalanga.
Nedbank is the largest YES participant in the financial services sector, having created more than 7,000 work experience opportunities before this year’s intake. YES Youths not only receive work experience, but are provided with hard skills and supported with mentoring to obtain the “soft” skills that equip them to thrive once the year is over.
“We continue to see great value in the YES programme’s ability to uncover extraordinary young talent, with many of them finding roles on Nedbank’s permanent payroll after completing their YES learnership,” Fuller said.
More than two-thirds of the work opportunities created through the Nedbank-YES partnership have been taken up by women and several were placed in provinces where the unemployment rate is higher than the official national average of 33.9%, including Mpumalanga (36.1%) and the Eastern Cape (42.8%).
“Through our programme, our youth not only obtain skills and job experience, but we also uplift the communities and households from which they come, with a massive multiplier effect.”
YES chief executive Ravi Naidoo commended Nedbank, saying YES was excited to continue its long-standing partnership with the bank and to see the young people in the programme flourish and create a better tomorrow, today. “The Youth Employment Service is the highest-impact private sector youth employment programme in South Africa, working with more than 1,500 businesses to tackle the country’s youth unemployment crisis.
“Nedbank, as one of the pioneering partners of the programme, has been with us from the start, empowering young people to become future leaders, professionals and entrepreneurs – the game-changers of tomorrow. Through partnerships with businesses like Nedbank that are integrating YES into their ESG agenda by placing youth in roles ranging from IT, HR and marketing, to waste management, solar PV installation and ecotourism, an economic ripple effect is triggered, which helps reignite communities and our economy.” DM
About Nedbank Group
Nedbank Group is a bank holding company listed on the JSE, with a market capitalisation of R109-billion at 31 December 2022. Nedbank is one of Africa’s largest banking groups, with operations in South Africa, Namibia, Eswatini, Mozambique, Lesotho and Zimbabwe, and offshore in the Isle of Man and Jersey. It also has representative offices in other African countries, including Kenya, and has key global financial centres to provide international banking services for South African-based multinational and high-net-worth clients in London, Toronto and Dubai. The group is a diversified financial services provider, offering a wide range of wholesale and retail banking services, as well as insurance, asset management and wealth management solutions. www.nedbankgroup.co.za
About the Youth Employment Service:
The Youth Employment Service (YES) is the highest-impact private sector youth employment programme in South Africa, working with 1,500+ businesses to tackle the country’s biggest crisis by creating or sponsoring jobs for unemployed youth. These 12-month work experiences help equip them to become future leaders, professionals and entrepreneurs – the game-changers of tomorrow. In return for putting young people into jobs, businesses gain up to two levels on their B-BBEE scorecard, while integrating job creation into their ESG strategies, and developing a talent pipeline.
We’re youth-focused and business-led. We work with leading businesses in various sectors to provide 12-month quality work experiences for unemployed young people to be economically active citizens who will drive the economy forward. YES has already proven itself to be one of the true innovators in South Africa, injecting more than R6-billion into the economy through youth salaries and creating more than 115,000 jobs in just four years, with no government funding. Find out more at www.yes4youth.co.za and join the movement of businesses saying YES to co-creating a better future for all South Africans.