It’s the familiar catch 22 that today’s young people know all too well. Employers won’t take on candidates without experience in their field, but work experience is hard to come by.  It’s a problem experienced by countless young people every year.

Thorough consideration must be given to the long-term future as well as the
short-term and attracting the best talent is a vital part of such a strategy. Work experience certainly isn’t a new concept but it has become stigmatised by outdated perceptions that have prevented companies from participating in such programmes. 

Instead of simply using young people to do mundane activities that aren’t beneficial for either the company or the individuals on work experience, a change in attitude towards young jobseekers will deliver numerous advantages. Companies will see the strengths and potential of an individual at an early age while at the same time providing them with an experience that will raise their aspirations and enthusiasm to continue the pursuit of their chosen career. In short, paying attention to the plus points of introducing meaningful opportunities will pay for itself in many ways.

Liz Field, CEO, FSP

The Financial Skills Partnership recently launched ‘Directions’ – an online portal for young people to gain an insight into the financial sector and pursue career opportunities with leading organisations. It helps them find out about opportunities in the sector, which includes everything from one day work experience, school and college programmes with one or two week placements, through to internships and employment in the form of apprenticeships.

Some leading organisations have already signed up to the portal. This includes HSBC who will launch a work experience programme in January that will give candidates a taste of what working life is like in branches, offices and head office departments.

Companies we have spoken to that have produced the most popular and well-received work experience programmes have been those that have been well coordinated and have the full support of the staff. To help this approach to be rolled out across the sector, we have created the Directions Work Experience Toolkit that will help employers to structure productive work experience programmes.

Yes, work experience has suffered from something of an image problem in the past and as a result of poorly planned programmes that give little consideration to the potential of young people, some have even diverted them away from working in finance. However, changes are taking place and companies of all sizes are implementing strategies that are an asset to the financial sector.