Where you live can make a significant impact on your prospects in later life. In a report conducted by the Resolution Foundation, it looked at the lifestyles of people born between 1986 and 1990 compared to people born between 1971 and 1975. It found, on the whole, that life appeared to be harder for the younger generation, but some places bucked the trend.
The North East was one such place that makes the picture look a little brighter. More people have a university degree than their older counterparts, and wages have also increased. But in comparison to these positive points, the North East in the three months ending July 2019, employment in this region was the lowest rate at 71.1% compared to other parts of the UK.
It’s not all doom and gloom for young people today, though, and the North East sees some encouraging innovation in the business sector. From new firms entering the market to the expansion of locally based businesses, there are a growing number of opportunities for people of all ages.
Lots of firms are taking extra measures to get more people into more roles in the area too. Take a look at some of the ways businesses are changing to encourage new talent into the workplace:
Working and studying is an excellent option for many young people. Recent figures from the government showed that in 2018/19, around 23,000 people started an apprenticeship in the region, which was a slight increase on the previous year. This positive step in getting people into employment while they expand their knowledge is a great opportunity for both communities and industry. Improving work experience and training highly skilled individuals ensures they are confident and knowledgeable. Plus, they can continue to work in an organisation that values their development.
Encouraging new ideas
More businesses realise they need to open their minds to new ideas and different strategies to succeed in the market. What’s more, young people making their way on the career ladder are often the perfect answer to provide exciting and out of the box ideas. Although younger generations may not have the necessary experience in years, they do have a different view on industry compared to older generations.
Companies are turning to more involved employee engagement strategies to ensure they capture this insight. This type of feedback is also essential if businesses are trying to talk to younger generations. Building the relationship between brand and audience is crucial, and organisations in the region are responding to the generational divides.
Other benefits companies are offering include:
- Good company pensions
- Joining bonuses
- Company discounts
- Free breakfast and hot drinks
- Flexitime and remote working
- Paid time off for voluntary work
The job market is a very different place than it was a few decades ago, and companies in the region are rising to ever-changing developments. These innovations are essential to help encourage young people into the workforce. Plus, it helps ensure the area is a key location for emerging organisations and investment.