Program will offer an innovative approach and pairs three banks to bridge the gap between education and employment for youth.
Generation and the Wilmington Leaders Alliance (WLA) are joining forces to bring a proven, global, youth employment training program to Wilmington to help local young people connect with the job market. With three banking partners ready to hire — Capital One, M&T Bank, and WSFS — Generation and WLA plan to reach 100 young adults in the first year, with plans to scale, for jobs in the finance/banking sector.
The partnership brings a new sector of training opportunities to Wilmington, reaching 100 young adults during the one-year pilot phase. WLA, an established non-profit organization in Wilmington, is focused on increasing the capacity of key workforce development organizations established within Wilmington. Together, the partnership will provide an innovative model to help fix the skills gap, connect employers to skilled labor, and help end youth unemployment.
“Successful programs often implement best practices. They meet a targeted need in the community while supported in partnership with the private sector,” said Peggy Geisler, director of strategic initiatives at the Wilmington Leaders Alliance. “When multiple stakeholders partner together, people thrive. The Wilmington Leaders Alliance is proud to be connecting nonprofit organizations and the business community to create workforce opportunities for Wilmington. We are better together,” she said.
“Generation is delighted to partner with the Wilmington Leaders Alliance to bring this new banking and financial program to Wilmington,” said Generation U.S. COO Sean Segal. “Paired with the employer partners the WLA has helped to garner, this program will provide the necessary skills employers are looking for, while giving our students opportunities in the financial sector upon graduation.”
In Wilmington, the cost-per-hire for customer service roles in financial services is between $5,000-$15,000. With Generation’s program, the aim is to bring these high costs down for employers while giving students long-term career options.
Founded by McKinsey & Company in 2014, Generation is a demand-driven employment program that recruits, trains, and places young people in jobs. Generation USA has the weight of the global Generation organization’s strong track record of success behind it, with more than 20,000 graduates across seven countries — Hong Kong, India, Kenya, Mexico, Spain, UK and the United States — and programs spanning 20 professions. Of those graduates, 83% are employed within 90 days of program completion, 68% remain employed six months later, and they earn incomes that are 2-6 times what they were making before the program. The more than 2,300 employer partners Generation has worked with have seen significant impact as well, with 88% of them saying that Generation graduates outperform their peers and 98% saying they would hire a Generation graduate again.
Generation programs are free for accepted participants, and participants are guaranteed job interviews when they successfully complete the program. The program consists of an innovative boot-camp style training that emphasizes repeated practice in the most important skills for a role. In addition, Generation offers an integrated curriculum that combines technical, behavioral, and mindset skills; participants receive mentorship support throughout the program and after they join the workplace; and both participants and employers benefit from a focus on delivering a positive, measurable return on investment to them.
Recruiting for Generation Wilmington Universal Banker program participants and partners is ongoing, and interested candidates or employers can learn more by visiting generation.org/universalbanker and clicking on “Wilmington.”