In this Q&A we catch up with Elsa Tshatedi (ET), Nedbank’s Head of Talent Attraction and Management, about the ambitious targets the programme has met at the bank.
Nedbank has participated in the YES4Youth initiative since 2019 and has trained and developed youth for various roles in the bank itself as well as for its partners. What are your key reflections on the programme?
ET: It’s been a remarkable experience for both Nedbank as well as the young people who have participated in the programme. The objectives of the Youth Employment Service resonate strongly with Nedbank’s purpose, which is ‘to use our financial expertise to do good for individuals, families, businesses and society’. As a purpose-led organisation, we believe strongly that our business achievements cannot exist in isolation from the communities in which we operate. Their economic prosperity is central to our own success.
We have been inspired by the quality of the talent identified through the YES-recruitment drive. Our participants are talented youth who needed an opportunity to enter the job market. Our YES-Youth have thrived, and their presence is felt in the teams where they have worked.
Despite the challenges they face, young South Africans demonstrate extraordinary drive, tenacity and determination, passion, commitment, and an eagerness to learn. Moreover, corporations should take heart and know that by giving these young people their first job, we are developing future leaders and entrepreneurs who will, in turn, create future opportunities for generations to come.
It is the intention of the YES initiative to not only train, mentor and prepare young people for careers and entrepreneurial opportunities but to create real job opportunities. Has Nedbank been able to create jobs?
ET: In the first year of our YES programme, we can proudly say that we created more than 3 300 work experience opportunities between Nedbank and our implementation partners.
The cohort consisted of both matriculants and university graduates who demonstrated so much potential that Nedbank’s absorption rate of this group into permanent roles or continued employment contacts upon completion of the YES programme was much higher than we initially anticipated. Our overall absorption rate, inclusive of our implementation partners, was at 18%, which stands above the statutory target of 2.5%.
The COVID-19 pandemic temporarily halted the programme in 2020 but it also underscored for us the urgent need to find long-term solutions to the youth unemployment crisis in South Africa.
In 2021, more than 1 900 youth entered Nedbank's YES programme. Nedbank itself hosted 150 of these YES-Youth, aligning with our focus on addressing future critical capabilities. The balance worked with our implementing partners, including WILDTRUST, ORT SA, Youth@work, Conservation SA, and R'Labs. When selecting the disciplines that participants would be exposed to, it was important to include the critical components of a net-zero economy, and specific fields that support initiatives that drive the green economy. Those employed at WILDTRUST in particular were exposed to environmental education, marketing and communications, land care, eco-tourism and sustainability and conservation, supporting our broader strategic ambitions.
With Nedbank embracing the value that the programme provides for both the company and young people, 103 of the 150 youth hosted by Nedbank in 2021 were offered formal employment – a staggering 67% absorption rate into life-changing career opportunities.
It would seem Nedbank continued to achieve targets well above the minimum gazetted absorption rate in 2022?
ET: Yes, indeed. Of our 2022 intake, more than 1 800 youth entered the year-long YES programme which kicked off in June 2022. Nedbank hosted more than 600 candidates in our own business divisions, which was a substantial increase from the 150 who gained workplace experience in the bank in 2021. Once again, the balance was placed with our implementation partners, WILDTRUST and African Foundation, again aligning with Nedbank’s strategic sustainability goals and addressing future critical capabilities.
What would you say has been the inspiration behind Nedbank aiming to go above and beyond the minimum absorption rates gazetted?
ET: For us, we look deeper than the targeted absorption rates. We are committed to enabling purpose-led transformation in the workplace and so it is imperative that opportunities are created and provided to deserving young people who are eager to contribute to the overall success of our economy while undergoing their own personal growth and development.
To truly capitalise on the advantages of the YES programme and create an empowered and inclusive workforce and society, the jobs and partnerships generated need to be sustainable. But, more importantly, they need to impact the community where the youth are based and help them to find employment when they complete the year-long YES-programme.
Preparing youth for the working world is one thing but launching them into a successful career is another. Ensuring workplace readiness is one of the main goals of the YES programme, and we realised that a well-considered offboarding strategy is equally imperative to their success. After successfully completing Nedbank's 2019 intake, an internal review of the YES youth's talent profiles was conducted, including their respective performance reviews, and collated into a marketplace booklet which we shared with various recruitment agencies. Our graduates were equipped with tools and material to help them prepare for future job interviews, compile an excellent CV and advance in entrepreneurship by finding opportunities in their own communities.
The YES initiative recently celebrated the milestone of 100 000 jobs created since its inception. Being an important partner of the initiative, it must have been a proud moment for Nedbank as one of the contributing organisations. What are some of the notable and significant highlights that come to mind when it comes to impact created through the partnership?
ET: Nedbank is incredibly proud of what the initiative has achieved thus far. Transformation is a continuous journey, and we are working towards achieving even greater milestones. Over the past five years Nedbank has created work opportunities for more than 7 080 South African youth.
More than two-thirds of the work opportunities created through the Nedbank-YES partnership have been taken up by women and several were placed in provinces where the unemployment rate is higher than the official national average (33.9%), including Mpumalanga (36.1%), Limpopo (36.3%) and the Eastern Cape (42.8%).
In doing this we have empowered our YES-Youth with skills and job experience in addition to ensuring that the communities from which they come can also benefit from this initiative. We use our financial expertise to create sustainable growth with the youth and the communities.