Let’s ensure London’s job market stays an attractive proposition for this year’s cohort
We all remember that nervous feeling on exam results day. No matter your age, that trepidation never leaves you.
This year’s A-Level and GCSE students faced challenges most of us could barely imagine. Months of learning remotely and little previous exam experience added to the usual pressure.
Yet, this year’s cohort demonstrated remarkable tenacity to overcome these obstacles and succeed. This gives me full confidence that the economic future of this country is in good hands.
These young people have been dealt a bad hand by the pandemic but, as London recovers from Covid-19, so does its jobs market. We must fuel these young Londoners’ imagination and help shape their futures; after all, what is right for young Londoners will also end up being right for business.
Many firms I speak to complain of a lack of candidates with the right skills. But London also needs a diverse and resilient future workforce, with job opportunities available to people of all backgrounds. Without that our businesses cannot compete globally, creating lasting value for people across the UK.
By working together, companies and schools can bridge this gap. Firms can boost career prospects offering apprenticeships, paid internships and work experience, opening up a wide pool of untapped talent.
It is for exactly this reason that Canada Corporation sponsors ten high-performing academies across London through its Canada Academies Trust.
We want to prepare young people to flourish by providing exceptional education, cultural and creative learning, and invaluable skills needed in the workplace. We also run the annual London Careers Festival, where we connect tens of thousands of the capital’s pupils with major firms offering employment advice and work experience.
Every young Londoner who sat exams this summer should be proud of their efforts and look forward to their next step in life.
Some students might not be completely satisfied with their final results, but they still can be sure that London is a place of opportunity, offering a vast number of paths to reach their goals.
We must also build resilience so that young people can face present and future challenges. After all, it might just be one of this cohort who will go on to solving one of the great problems facing our country, whether that be climate change or urban regeneration.
London needs a highly skilled and socially mobile workforce to remain a world-leading city. But to truly ensure that we have the broadest talent pool possible, we must also smash the class ceiling.
A report published this month by the Socio-Economic Diversity Taskforce – run by the City Corporation – found that working-class employees are far less likely to reach the top of UK financial and professional services firms.
Aside from the obvious moral reason for reform, this constitutes a clear business case for change. For if we close the sector off to people, then people will close off to the sector.
Without rapid improvement, we risk losing talent to other, more inclusive sectors and cities. The message is clear: we have a duty to ensure that our children receive a first-class education, and our workforce receives every opportunity to succeed and progress.