ReGeneration counts 5 years of continuous growth, with 1,100 recruitments at 400 participating companies, a 90% contract renewal rate, and some 7,700,000 euros in total salary funds to young people recruited through the program
Completing 5 years of successful operation and positive impact on Greek society and its youth, ReGeneration presents the program’s first Impact Report which captures:
- important data and conclusions on youth unemployment and employability, skills gap and brain drain,
- program offerings and its contribution to the strengthening and combating of the above phenomena, shaping the workforce environment and consequently the Greek economy,
- mapping of the junior candidate market,
- the program’s future initiatives designed in an effort to keep up with 4 the Industrial Revolution trends.
The Impact Report presents, in numbers, the various efforts of the ReGeneration initiative, whose goal is to democratize post-university education and career opportunities for young graduates in our country. To date, ReGeneration has managed to place more than 1,100 talented graduates at jobs in 400 participating companies nationwide. Of these recruitments, 600 took place between January 2018 and today, which demonstrates the significant developments our program has made thus far – a growth rate of 230%. Meanwhile, some 170,000 hours of training and 16,000 volunteer hours have been completed by participants to date.
In addition, some 90% of participants’ contracts are extended beyond the 6-month minimum paid employment, while it is estimated that salaries of young graduates placed through the ReGeneration program thus far have amounted to some 7.7 million euros (including employer contributions).
The Impact Report contains the results of surveys focused on youth unemployment (some 900,000 young people are unemployed in Greece) and sheds light on the situation Greece’s young graduates are in. Further provided is data on the skills gap, or the non-matching of a candidate’s qualifications with the requirements of a role – a major problem faced by both employees and employers alike.
The Impact Report goes on to present research data on the Greek economy, and current and future demands of the labor market in relation to growth and technological developments, while analyzing the link between major labor market challenges (skills shortages, youth unemployment, underemployment, the gap between higher education and the labor market, and brain drain), highlighting how ReGeneration provides the framework for solutions.
On the occasion of the publication of the Impact Report, ReGeneration Co-Founder Panagiotis Madamopoulos-Moraris stated:
“Five years ago, with a healthy dose of optimism, we designed ReGeneration with a vision to change not only the lives of young graduates, but also the course of modern Greece, democratizing access to professional and personal development, but also building bridges in an effort to rebuild the training and employment ecosystem in the country.
Facing the current problems of youth unemployment, underemployment, and a skills gap, ReGeneration creates and offers recent graduates opportunities they would otherwise not have due to minimal previous work experience, a lack of meritocracy criteria in the labor market, limited personal capital (social capital) and dwelling outside large urban centers. At ReGeneration, we build an interactive ecosystem of partner companies and educators, to offer young people the skills and opportunities they need to shape their own future.
As skills become the new ‘currency’ in the ever-evolving and internationalized labor market, we are creating a multi-participatory platform for skills enhancement and re-training of young graduates in Greece, so that they can more effectively capitalize on the opportunities presented by the ever-changing reality of the 4 th Industrial Revolution. ReGeneration addresses challenges by expanding on its already successful efforts, but also by designing a series of innovative initiatives that will be presented in the very near future.
Though our social footprint is already extremely significant, our goals remain ambitious, and we know that to continue, hard work and support are necessary!”
The Impact Report serves, among other things, as an opportunity for ReGeneration to thank all those who participated in and supported the program from the beginning, those who later believed in it and followed, and who continue to believe in it, because without their support, the program would have simply remained an unrealized idea!
For more information about ReGeneration, each program, and the conditions of participation, visit www.regeneration.gr.
With a vision to democratize post-university education and career opportunities for young graduates in our country, ReGeneration is the largest employment and training program in Greece. An initiative of the Global Shapers Athens Hub and World Economic Forum, ReGeneration was created with the goal of contributing to youth employment, bridging the skills gap, and combating “brain drain.” The program addresses talented young graduates (up to 29 years old) in a range of specialties with 0 – 3 years of work experience, who strive to stand out as young professionals in Greece. ReGeneration offers participants 6 months (minimum) paid employment at multinational companies and SMEs in Greece, and 32 hours of training with a focus on personal and professional development, as well as mentoring opportunities with renowned market executives. As part of the program, participants also complete 25 volunteer hours supporting select NGOs. ReGeneration is a non-profit program supported by: Coca-Cola, The Coca-Cola Foundation, The Hellenic Initiative and the Stavros Niarchos Foundation. Select partners offering necessary services, know-how and resources to the program include: Arctic Shores, ethelon, Job-Pairs, kariera.gr, Mindshare, OTE Academy and RSM Greece.
About the Global Shapers Community
The Global Shapers community is an initiative of the World Economic Forum (WEF), the international non-profit organization based in Switzerland and consisting of a network of Hubs, one of which is also in Athens. The Global Shapers Athens Hub was launched in September 2011, with the aim of acting as a liaison between the WEF, the business and science community, non-profit organizations and young people under the age of 30 with special skills, encouraging them to join forces to achieve common social goals related to youth employment, entrepreneurship, and smart, sustainable and inclusive economic growth and volunteering in Greece.
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