Greek millenials are currently facing one of the toughest job markets across Europe, with almost 40% of under 25s unemployed, and many graduates finding themselves underemployed in low-skilled jobs. Due to this, more than 4270,000 young people have left the country to pursue their careers elsewhere, which is referred to as the ‘brain drain’.
Dimitrios Papadimoulis, Member of the European Parliament, says that in order to combat the ‘brain drain’ and youth unemployment, there needs to be an acceleration in investment and development.
ReGeneration is the largest and most multi-stakeholder paid placement and training programme in Greece, aiming at democratising the opportunity for post-academic training and professional development of young graduates.
Founded by the Global Shapers Athens Hub, an initiative of the World Economic Forum, ReGeneration aims to bridge the skills gap, challenge youth unemployment and fight ‘brain drain.’ The ideas behind the initiative was that by providing the opportunity for young people to enhance their soft skills and gain experience in a professional environment, their employability will increase. The ReGeneration programme is divided into three streams to reflect different job areas: Business, Social and Technical.
To create a well-rounded profile along with a positive experience for the interns, ReGeneration provides 72 hours of training in business and soft-skills, combined with 25 hours of volunteering in various organizations all over Greece. So far, ReGeneration has facilitated over 950 paid placements with 360 employers. 90% of applicants remain employed with the company after the minimum 6 month period has finished. Panos Madamopoulos-Moraris, ReGeneration Co-Founder says that this retention rate provides “an excellent opportunity of talent absorption by the market during a period when unemployment is one of the major issues amongst young people.”
Since we started working with ReGeneration in 2016, our aim has been to enhance the application experience in the first stage of the selection process. Our aptitude and personality tests were implemented to provide a more positive candidate experience through our engaging and immersive app-based interface. 94% of candidates agreed that the assessment was an enjoyable part of the selection process, and due to a higher calibre of candidates progressing to further stages, they were better suited to their placements than previous years.
ReGeneration says: “Arctic Shores is one of our most valuable partners. They support the programme’s selection process at a very crucial stage. Embracing and applying innovation is at the core of ReGeneration’s DNA, and Arctic Shores is enabling us achieving this by providing a state of the art, cutting edge psychometric tool that applies to modern candidates.”