The Prince’s Trust group of charities launches findings from their ‘Future of Work’ report
Founded by The Prince of Wales, The Prince’s Trust group of charities now works in 18 countries and launched findings from their ‘Future of Work’ report, supported by HSBC.
The report, supported by HSBC, highlightsthat young people in Pakistan want to learn more life skills to prepare them for the world of work, while many show an eagerness to set up their own businesses.
The international research was conducted across eight countries, including Pakistan, as well as Canada, Ghana, Jordan, Kenya, India, the UK and the USA. The report seeks to amplify the voices of young people, exploring their hopes and aspirations and the support they need as the world adapts to Covid-19.
Part of The Prince’s Trust group of charities, Prince’s Trust International has been working in Pakistan since 2016 and works with local partners SEED Ventures on an Enterprise Challenge programme in schools, cited by Forbes as one of the five leading global programmes supporting the next generation of entrepreneurs.
The pandemic has had a seismic impact on young people. In Pakistan, youth unemployment doubled from 9% in 2019 to 18% in 2020 (ILO).As young people contend with an uncertain future and an unstable labour market, listening to them is critical to understanding the right response.
The research highlighted three key areas central to the future of work for young people: sustainability, future skills and entrepreneurship.
Globally, the findings showed an interest from participants in entrepreneurships the pandemic forced many of them, through necessity and creativity, to develop a ‘side hustle.’ Seen as a route to financial wealth and stability, 44% of young people surveyed in Pakistan said setting up their own business was the profession that they would most like to work in, ahead of working for a large business (37%) or the government (40%).
The percentage of people interested in setting up their own business was highest in Islamabad Capital Territory (54%) while men and women shared the same sentiment throughout Pakistan (44% male; 43% female). Prince’s Trust International is committed to supporting this new generation of entrepreneurs with further training and investment.
Alongside a focus on sustainable careers, there was a clear desire to develop life skills that will prepare young people for the future of work. Among those surveyed in Pakistan, 90%cited soft skills such as self-confidence, teamwork and reliability as vital to the future of work, and as important as basic schooling (88%) and university qualifications (86%). Young people were also clear (86%) in thinking that digital literacy is important. Prince’s Trust International is calling for investment in future skills programmes to prepare young people for the workplace.
The report shows that young people in Pakistan also want to work in emerging green and digital industries and be agents of sustainable change with 83% interested in a green job.Similarly,86% of young people in Pakistan said the environmental footprint of a company is important when choosing a job. In response to this, Prince’s Trust International is calling for partnership with employers to create entry level jobs in the green and digital sectors, with focused educational opportunities.
Alongside this report, the organisation is launching a campaign to help support ‘Generation Stand up, Start up.’ The campaign calls for partnership with employers and collaboration across civil society to meet young people’s ambitions and create more decent, sustainable jobs; invest in skills for work and support a new generation of entrepreneurs.
Will Straw, Chief Executive of Prince’s Trust International, says: “It is exciting to see so many young people express an interest in setting up their own business. Building on these findings, we are working with local partners in Pakistan to help young people realise these ambitions.
Our Enterprise Challenge Pakistan programme, delivered in partnership with SEED Ventures, provides an opportunity for young people to develop business ideas and receive support from a local business mentor”.
In his foreword for the report, President and Founder of The Prince’s Trust, HRH The Prince of Wales, says: “Through this report, we are launching a campaign to help support ‘Generation Stand Up, Start Up.’ We are calling for partnership and collaboration to meet these ambitions and create more decent, sustainable jobs. We want to give more young people the opportunity to develop the skills suitable for the world of work. We want to nurture talent and give support to this emerging generation of entrepreneurs. “For the future of our world, it is vital that we put young people at the heart of this recovery”.
