BrazilIKEA supports McKinsey's Generation training efforts across Kenya
McKinsey’s Generation’s success in Kenya has now been reinforced through a new endowment of $8 million, which comes from the IKEA Foundation. The funding is to help train as many as 47,000 young individuals across Kenya and India, with hopes of increasing their employability.
Kenya and India have been among the most successful operations for Generation since its establishment in 2014. In Kenya, Generation offers skill training in six different areas to young individuals, including sewing, sales, financial services, restaurant, retail and customer services.
Generation’s efforts in Kenya began in 2015, and have met with tremendous success, having trained more than 15,000 young individuals and made them job ready. The quality of their training has been made clear through the high job placement rate, which stands at 84% of the graduates within 90 days of completing the programme.
The business environment in Kenya is also highly supportive of the Generation programme, given that they also experience a shortage when it comes to talent at an entry level. As a result, Generation has as many as 350 employer partners in Kenya who look to hire graduates once their skill training is complete.
The IKEA Foundation is looking to bolster this process, having injected $8 million into Generations efforts across Kenya and India. Cumulatively, Generation will use the new resources to train 47,000 young individuals between the ages of 18 and 29 across both markets over the next three years.
The target audience for the initiative hail primarily from more marginalised and disadvantaged sections of society, giving them a ticket to building a professional career. In addition to skill training, these individuals are also set to receive social support through transportation, childcare and mentorship during early stages of their career.
Commenting on the new funds, CEO of McKinsey Generation Mona Mourshed said, “We are thrilled to have the support of the IKEA Foundation to help young Kenyans and Indians transform their life trajectories through employment. The ripple effect of this step-change in their income has the potential to impact the well-being of families and entire communities.”
IKEA Foundation CEO Per Heggenes added, “We are partnering with Generation because we want young people in Kenya and India to have the chance to develop marketable skills, find sustainable jobs and grow their incomes. With these incomes young people can support themselves and their families by paying for healthcare, education and a safe home. That is why we invest in programmes that create systems change, addressing the barriers young people face when it comes to earning a living and enabling them to build better futures.”
