Generation is the first program of the McKinsey Social Initiative, a non-profit founded by McKinsey. It is aimed at closing the skills gap and improving the employment prospects for the most populous generation in history.
About the initiative
Today, more than 75 million young adults are out of work, and three times as many are underemployed. At the same time, 40% of employers say a skills shortage is leaving them with entry-level vacancies. Generation aims to close this gap through an ambitious program aimed at accelerating learning, placing disconnected young adults in jobs, and giving them the skills and support they need to achieve enduring personal and professional success.
Generation will run programs in five countries over five years. These programs will:
- identify professions with high demand for entry-level workers
- design and deliver bootcamp training programs to accelerate the development of technical and behavioral skills
- secure pre-commitments from employers to provide graduates of the program with entry-level jobs upon completion
- help at least a million young people secure and retain liveable wage jobs with a career trajectory
- track the return on investment to employers and youth from participating in this program
- assess the cost-effectiveness of different program interventions
Where is Generation now?
Generation launched its first two pilot programs in the US and Spain. In each country, Generation is focused on professions selected based on clear employment opportunities for people with the right skills.
Generation USA is aimed at young adults interested in a career in the fast-growing healthcare sector. Program graduates will be guaranteed jobs at the frontline of patient care in hospitals and nursing homes. A pilot program is already underway in Pittsburgh, Pennsylvania. Generation will soon be expanding to 10-15 states across the USA.
Generation Spain focuses on web development and digital sales and marketing—important growth areas for the economy. Program graduates will bring key digital skills to large and small employers across industries. Pilot programs have launched in Madrid and Barcelona, and will expand to other cities across Spain next year.