McKinsey launches youth employment initiative in Singapore and Hong Kong

03 August 2018

McKinsey is celebrating a successful start to the year for its Generation initiative, with the international youth training programme expanded to Singapore and Hong Kong.

Launched in 2015, McKinsey’s Generation programme partners with non-profit organisations, governments and the private sector to provide unemployed youth with accelerated skills and job-readiness training for in-demand sectors such as healthcare, technology, sales & retail, customer service and skilled trades – helping to address the some 75 million jobless youth worldwide.

Since its inception, the global programme has graduated more than 20,000 students with 85 percent of those placed in jobs, having in that time expanded to nine countries – including, this year, Singapore and Hong Kong. The Asian states join existing Generation projects the US, Australia, Spain, Kenya, Mexico, Pakistan and India, with new locations in the UK and France in the short-term pipeline.

For Singapore, Generation will partner with state agency SkillsFuture to offer a 40 day boot-camp in digital marketing, while in Hong Kong, programmes in customer service and digital and social media marketing are already underway. The Singapore launch aligns with concerted recent efforts from the local government to prepare its citizens for the future workforce – including within the consulting sector.

McKinsey launches Generation youth employment initiative in Singapore and Hong Kong

Currently operating in over 75 cities, the McKinsey Generation programme takes a strategy and management approach to the issue of unemployment and vocational placement, firstly identifying the areas of most demand by employers, and then undertaking extensive data tracking to measure outcomes – allowing the organisation to ultimately demonstrate the value for all relevant parties.

And the data so far? 82 percent of graduates employed within three months of completion, a retention rate after one year pushing 70 percent, 84 percent of employers stating that graduates outperform their peers on productivity and speed to promotion, $70 million in cumulative graduate earnings (at incomes of two to six times higher than prior to the training), and an established partnership base of more than 2,300 employers.

With such early success, the programme too is beginning to receive recognition. In Spain, the original launchpad for the programme – in an economy marked by chronic youth unemployment – McKinsey’ local managing partner Alejandro Beltrán received an award from corporate social responsibility organisation Fundación SERES for his role in Generation and contribution to society.

More recently, the US edition of McKinsey programme earned a major accolade from the World Innovation Summit for Education (WISE – a Qatar Foundation-led international initiative focused on innovation in education), beating out over 400 global candidates last month to receive one of six coveted WISE Awards – with the ceremony set for next month in New York.

“The Generation team is thrilled and honored to receive the WISE Award,” said Generation President and CEO Mona Mourshed. “This recognition makes us even more determined to enable a career for every person, anywhere in the world. We are grateful for our learners, employers, and implementation partners who have all worked hard to help us to learn and grow fast.”

Surbana Jurong strikes deal to develop shipping corridor across Mexico

19 April 2019

Singapore-headquartered urban and infrastructure consultancy Surbana Jurong has been appointed as a master-planner for the Interoceanic Corridor project in Mexico.

At 40 kilometers wide and 300 long, Mexico’s slated $150 million Interoceanic Corridor will dissect the country’s Tehuantepec isthmus to connect its Atlantic and Pacific coasts – with the aim of facilitating trade and fast-tracking local economic growth. Now, the project has a new and far more distant connection, with the involvement of Singaporean-headquartered infrastructure consultancy Surbana Jurong.

Striking a deal with the Mexican state governments of Veracruz and Oaxaca, Surbana Jurong will develop a strategic plan for the Interoceanic Corridor as well as provide master planning on two associated special economic zones, in what the rapidly growing firm states is a significant milestone in its international aspirations – which over the past few years have already seen its presence grow to 130-plus offices in more than 40 countries.

“We are privileged to be appointed as master planners for the Interoceanic Corridor project. Surbana Jurong has a strong track record, having delivered master plans for projects in over 30 countries and are pleased to contribute our expertise towards Mexico’s development success,” said Surbana Jurong Group CEO Wong Heang Fine on helping to unlock the region’s economic potential.Surbana Jurong strikes deal to develop interoceanic corridor across MexicoAccording to the firm, the agreement will see Surbana Jurong perform a detailed review of the Interoceanic Corridor including its broad socio-economic benefits to the region and potential growth industrial clusters, with the strategic plan comprising of recommendations on market positioning and development directions, proposals for utilities and services infrastructure, and zoning plans to identify land use distribution along the corridor.

In addition, the firm will devise the master plan for two economic development areas along the Interoceanic Corridor in the states of Veracruz and Oaxaca, guiding the physical development of the two industrial sites through planning of land use, infrastructure, utilities and transportation – with the aim of “creating a conducive environment for investment and providing a quality living environment for the people that live and work there.”

“We are pleased to see the partnership continue to make progress since we started this conversation a few years ago,” said Khor Aik Lam, Latin America Regional Group Director of Enterprise Singapore, which helped facilitate the deal. “The strong commitment and joint efforts from all parties have culminated in this milestone venture to bring Singapore’s economic development capabilities to Mexico.”

Connecting the ports of Salinas Cruz on the Pacific coast and Coatzacoalcos on the Atlantic, the local Interoceanic Corridor is one of a number of proposed or under development cross-continental shipping routes to rival the Panama Canal, including routes across Guatemala and Nicaragua – with the contemporary race harking back to the 19th Century when a number of American industry and shipping titans fought to be the first.