NSDC forms partnership with McKinsey's Generation India Foundation

19 January 2018 Authored by Consultancy.in

As it continues to broaden its skill-initiatives for unemployed youth in India, the National Skill Development Corporation (NSDC) has formed a strategic partnership with McKinsey & Company’s skill development and employment generation arm: Generation. The partnership begins with a pilot project that has a target group of 5,000 candidates.

Established in 2014, Generation is an initiative from management consultancy McKinsey & Company which seeks to match the skills of the substantial unemployed population across the world with the needs of prospective employers. In this respect, the foundation attempts to serve the interest of both parties, by way of supporting sustainable career opportunities for individuals as well as preparing a highly skilled workforce for businesses.

This is primarily done by developing comprehensive skill-training modules based on market trends and demand. Since its establishment, Generation has developed operations in five countries, namely India, Mexico, the US, Spain, and Kenya. The target population for the foundation is unemployed individuals aged 18-29.

In India, Generation’s operations are spread across more than 20 different sites, spanning small towns and big urban centres alike. Currently, Generation India has 350 students enrolled, primarily being trained as General Duty Assistants (GDAs) in the field of healthcare. The foundation boasts a placement rate of more than 91% among its 170 graduates so far, most of whom have reportedly exceeded expectations.

NSDC forms partnership with McKinsey's Generation India Foundation

Now, this operation is set to grow even further, in light of an agreement with the NSDC, one of the largest skill-development organisations in the country. Similarly oriented, the NSDC is a not-for-profit public sector organisation that was established in 2008 in order to polish skills for India’s sizeable workforce.

The partnership with Generation is a non-commecial project launched as a pilot, which will work with 5,000 individuals, covering all stages of their career from training to eventual placement and subsequent tracking. The project will be funded under the Pradhan Mantri Kaushal Vikas Yojana (Prime Minister’s Skill Development Scheme, PMKVY), which was launched in 2015 with the objective of training 10 million individuals by 2020, with a budget of nearly $2 billion (Rs. 1.3 lakh crore).

In essence, the partnership will apply Generation’s methodology, as well as their expertise in the low-skill domains of healthcare GDAs and F&B stewards, with the objective of improving outcomes of the PMKVY. The initiative is of particular significance for India at a time when the country is poised to become an economic leader, both at the regional level as well as on the global stage.

Commenting on the partnership, COO of the NSDC, Jayant Krishna said, “With McKinsey's expertise in research methodology, we believe that the project would help in mapping the skill gaps and deliver impactful solutions. We aim to harness the huge potential of the youth in the country and add momentum to our consistent endeavors to strengthen the skilling value chain.”

Meanwhile, President and Global COO for Generation, Mona Mourshed said; “We are proud to be partnering with NSDC to raise employment with impactful outcomes, and the personal and financial well-being of learners.”