In South Africa, the urgent need for youth engagement and development is a key focus for businesses aiming to shape our society’s future. Here are some practical insights into harnessing the potential of young talent in finance.

Imagine stepping into the tech world, dazzling yet daunting, akin to navigating the treacherous terrain of the ‘Hunger Games,’ particularly for the fresh-faced graduate plotting their career. It’s a realm where businesses, in their relentless quest for innovation, uniqueness, and impact, voraciously seek the brightest minds to fuel their ambitions.

Faced with a crossroads, companies have a choice between luring a professional from the competition or cultivating high-potential young people with little or no experience but bags of promise. While both approaches have their place, at the fintech firm I’m part of, we have a preference for the latter and have built an organization within an organization to produce a ready flow of well-trained young talent.

Our ethos is the belief that the strength of our company, and indeed of our country, lies in its young people. The youth of South Africa are not just future leaders; they can be vibrant contributors today, brimming with ideas, energy, and the potential to drive innovation.

A cornerstone for development

The foundational step towards empowering the youth starts with education. However, the responsibility doesn’t end with providing education – it extends to ensuring that these educational opportunities are aligned with the evolving needs of our industries and the global market at large. At our company the annual graduate programme has been a successful tool for recruiting and retaining young talent.

We are running this program for eight years, helping us grow from just a handful of people a decade ago to today’s 120 professionals. Businesses can play a crucial role in bridging the gap between academic knowledge and practical application, but it relies on investment, in the shape of offering internships, apprenticeships, and training programs that prepare the youth for real-world challenges.

Inclusive work environment

As an experienced Head of People I can assure you that creating a culture that values diversity, inclusivity, and support is crucial. Young professionals, when nurtured in an environment that appreciates their unique perspectives and encourages innovation, are more likely to contribute meaningfully to their organisations and society.

Everyone is and should feel like a person, not a number. Interpersonal relations have been encouraged and actively sought out by the firm. These take the form of mentorship schemes, team bonding trips, and social occasions that all feed into a strong sense of community. The outcome? Our company remains a tight-knit team, albeit an ever expanding one.

For example, right from the initial stages of the graduate training programs, young candidates are taught by senior executives – which helps the newest recruits feel seen, paid attention to and supported by management. In short, they feel of value. It’s this willingness from across our workforce that has allowed us to maintain and reaffirm our values throughout our growth.

Catalyst for youth engagement

Rapid technological evolution presents an unprecedented opportunity for youth engagement. By involving young professionals in innovation-driven projects and research, businesses can tap into their inherent agility, tech savvy, and creative thinking. This not only accelerates the pace of innovation within organisations but also empowers the youth by giving them a sense of ownership and contribution towards tangible outcomes.

This year, we took two postgraduate students to be trained in AI specifically, underscoring our commitment to developing specific services based on AI and nurturing unique skills for this purpose. Moreover, innovation serves as a powerful tool for addressing societal challenges, providing young individuals with a platform to effect change and make a difference in their communities.

Recognizing the need to further support young IT industry professionals in South Africa, and pondering what we could do differently beyond traditional university engagement methods, we introduced a hackathon challenge. This was not just another competition; it was a strategic initiative designed to do more than just reward the winner.

The underlying thought was to unite the diverse skills present within the young tech community, fostering a sense of collaboration and innovation. As a FinTech company, we are a bridge between the traditional finance sector and the cutting-edge world of technology. The hackathon, therefore, served as an introduction for young professionals to the truly varied opportunities available within FinTech.

A unified approach to growth

The collective effort of government, academia, and the private sector is crucial in creating a sustainable ecosystem for young professionals’ empowerment. Policies and programs designed to facilitate access to education, skill development, and employment opportunities must be implemented in concert with industry needs and future projections.

As we look towards the future, the imperative for businesses to actively support and invest in the youth is clear. It’s a responsibility that transcends the confines of corporate social responsibility, embedding itself into the very fabric of strategic business planning and execution. By championing youth empowerment, businesses not only secure their future but also contribute to the crafting of a resilient, innovative, and inclusive South Africa.

Kerisha Govender is Head of People at Elenjical Solutions, an expert financial services technology consulting firm based in Johannesburg, South Africa. We understand the nuances of the African Capital Markets business and align this with industry leading knowledge of technology.

We specialize in the cost effective redesign of our clients’ technology, with a specific emphasis on reusing what isn’t broken yet and meeting the business needs of now and the future.

Our senior staff provide capital markets technology leadership and business insights and are backed up by project teams delivering system implementations, software developments. training and project management.

We bring detailed knowledge of trading and risk, asset management, data, and the cloud, as well as the move to digital. In addition, we are the only African based Murex business partner and system integrator, referenced by the vendor as the leading experts across the region.