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The project initiated to address the significant challenge posed by the global health emergency of COVID-19, particularly in relation to its adverse impact on young people's education, employment, mental health, and disposable income. While today, young people may be less affected by the virus itself, the disruption caused by the pandemic has created a volatile situation for them in terms of accessing quality education and employment opportunities. A further concerning projection from the World Bank suggests that, in the next decade, over one billion young people will enter the workforce, but less than half will be able to secure formal jobs.
This situation is exacerbated by two key factors: a lack of job vacancies and a skills gap among fresh graduates. The rapidly changing job landscape emphasises the rising importance of soft skills, including critical thinking, problem-solving, self-management skills, and adaptability. New graduates typically possess technical skills acquired from higher education but lack the professional experience needed to develop their soft skills, which are highly sought after by employers. The labour market has also undergone a transformation, with more individuals relying on remote freelance work as their primary source of income. Major corporations are increasingly open to hiring short-term freelancers, contributing to the growth of entrepreneurship.
The Maybank x ASEAN Foundation collaboration with Mereka harnesses a strategic synergy to enhance the Future of Work Programme, focusing on empowering 15 youth, especially those in challenging circumstances. This partnership has innovated the program with tailored workshops for financial management, cross-ASEAN community building, and extensive SME engagement for real-world project experience. The initiative underscores a commitment to using advanced learning platforms and collaborative efforts to prepare youth for the digital economy, ensuring they are equipped with necessary skills and entrepreneurial mindsets for long-term success.
Program Highlights:
Strategic Goals Achieved
Youth Empowerment:
Gig Employment Opportunities:
SME Collaboration:
Sustainable Economic Growth:
Success Metrics:
Faizah, a determined mother of four, embarked on her Future of Work (FOW) program journey with a resolute New Year's resolution to venture into something entirely new. Her goal was not just personal; it was to set an inspiring example for her children, demonstrating the value of hard work and achievement. Stepping out of her comfort zone, Faizah pushed herself to excel in her project placement, even delving into unfamiliar territory like graphic design. Despite countless sleepless nights and client feedback, her unwavering determination paid off, surprising even herself with newfound abilities. Faizah's advice to future program participants is to set clear expectations, invest effort tirelessly, and savour the invaluable rewards that the program has to offer.
Faizah
For Shi Kin, the FOW program marked a pivotal career transition from customer service to freelancing. She discovered immense value in the program's courses, especially as an individual embarking on her freelance journey. The program provided comprehensive courses that enabled her to develop essential skills in personal branding, finance, and client acquisition. What sets this program apart is the practical experience it offers through real-life projects. Shi Kin not only gained valuable knowledge but also applied her newfound skills effectively in a corporate setting. Her testimonial underscores the significant impact of the FOW program, particularly for beginners entering the freelance arena. Shi Kin believes that the program's content should be more widely accessible to help all working adults enhance their digital entrepreneurship skills.
Shi Kin
