The Youth Café Speaks At This Years Futuremakers Forum ‘Unleashing The Potential Of Young People To Succeed In The Future World Of Work’.
Join us at this year’s Futuremakers Forum from 13-15 July to coincide with the United Nations’ World Youth Skills Day. At the Forum we will hear from business leaders and the employees of the future, discuss emerging trends in the future world of work, and what it means for young people entering the job market over the next decade. The virtual Forum will consist of three days of interactive sessions, including on mindfulness and motivation, a fireside chat with Standard Chartered CEO Bill Winters, and quick-fire masterclasses on career building topics such as building your personal brand through to navigating jobs online.'
In 2009, the Africa Development Forum series was created to focus on issues of significant relevance to Sub-Saharan Africa’s social and economic development. The World Development Report 2019, The Changing Nature of Work highlights that the future of work, at the global level, will be determined by the tension between job losses in “old” manufacturing sectors that are susceptible to automation and job gains driven by product innovation in “new” sectors. Is this what the future of work looks like in Africa? The United Nations estimates show that by 2050 the world's population will hit 10 billion people. Various approximates show that about 95% of this growth will take place in low and middle - income countries. Of this growth, Africa will account for 57% (1.4 billion people). In particular, the population of Sub-Saharan Africa is projected to double by 2050 (that constitutes a 99% increase). Almost 60% of Africa’s population is under the age of 25, making Africa the world’s youngest continent.
The future of work Africa report by the Africa Development Forum in conjunction with the World bank, shapes the critical case for increasing human capital on the Continent. Particularly in Sub-Saharan Africa. The region has not only the lowest level of human capital assets, but also the youngest and fastest-growing population. Thus, the critical subject of the future of work is inextricably bound to the young population and their human capital development agenda. These assets will make or break the future of the continent. The world stands uncertainly poised on the edge of development and threat of a weathering planet. As mankind seeks new means to meet the demands of its existence, now more than ever, the urgency to do so without compromising the capabilities of future generations to meet their demands is apparent. This has led to massive disruptions that continue to change the dimensions of labor distribution in both old and new markets.
The report published by the Mckinsey Global Institute on the Future of work after the Covid pandemic, points out that businesses looking beyond the pandemic have an opportunity to reimagine how and where work is done. The crisis demonstrated that rapid changes in working practices and the jobs people do can be accomplished quickly. The key is to focus on the tasks and activities required rather than on whole jobs. Redesigning work in this way can streamline processes, increase efficiency, and enhance operational flexibility and agility. More findings from studies done on the future of work and skills for young people, suggest that by 2023, it is expected that 97 million new positions would be generated, which represents a tremendous potential; yet, by 2030, it is expected that human talent will be in short supply. According to the World Economic Forum, skills shortages were recognized as a key hiring concern by 77% of recruitment experts this year alone.
In the ever-evolving workplace, businesses and policy makers have a role to play in rethinking, retraining, and finding new ways to help workers develop the skills they will need to be useful in the future workforce. If a robot can learn to flip hamburgers, then a shop clerk can learn to be a nurse practitioner, a cybersecurity analyst, or a wind turbine service technician – with the right support. If businesses do not adapt to the needs of young people and help them transition to the future world of work, they will lose out in the long term. Furthermore, strong support structures are vital for youth not only to transition into the workforce but also to nurture their skills and act as springboards through which youth are able to achieve their full potential. When we speak of support systems, we mean strong networks, peers, mentors, and even family and friends. There is always something to learn from everyone!
Hosted by Standard Chartered in partnership with Business Fights Poverty, the Futuremakers Forum brings stakeholders together to build partnerships and create opportunities focused on young people. The focus for the Forum, ‘Unleashing the potential of young people to succeed in the future world of work’ aims to highlight the emerging trends in the labor market and frame how young people, clients and stakeholders can respond to this rapidly changing landscape. This event is part of Futuremakers by Standard Chartered, a global initiative to tackle inequality by championing greater economic inclusion for young people.
The important issues highlighted in this essay are what we will be discussing, and more, at the upcoming Futuremakers Forum. You will hear from business leaders and young people, discuss emerging trends in the future world of work, and learn what skills people who are entering the job market over the next decade will need. The Youth Cafés Executive Director has been invited to be a part of this panel, in his capacity as a youth business leader in Africa. Join us for three days of online and interactive sessions to learn and share as we envision an economically empowered Africa!
You can view the full agenda here and this is the registration link (it’s free!)
The Youth Café works with young men and women around Africa as a trailblazer in advancing youth-led approaches toward achieving sustainable development, social equity, innovative solutions, community resilience and transformative change.
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