NONPROFIT organization Philippine Business for Education (PBEd) is seeking to boost the skills and employability of out-of-school youth under a partnership with Wells Fargo International Solutions LLC–Philippines.
In a statement on Sunday, PBEd said the tie-up with Wells Fargo is under the Human Capital Investment for Work Readiness and Employment or HIRE program, which will give mentoring and training subsidies during on-the-job training for 200 out-of-school youth.
The nonprofit group added that the HIRE program would also provide four to eight weeks of skills training specific to companies in the sectors of food service and tourism, construction, information and communication technology and analytics, agriculture and agribusiness, manufacturing, logistics, banking and finance, energy and renewables, and health service.
“Investing in our youth and developing our human capital is the key to driving growth and innovation in the country. By providing them with the right training and bridging them to meaningful employment, the industry plays its part in empowering the youth,” PBed Deputy Executive Director for Programs Hanibal E. Camua said.
According to PBEd, the program will also provide interventions that would help the out-of-school youth to develop life skills such as leadership and communication, interpersonal and professional skills, and critical thinking.
“Wells Fargo is committed to building an inclusive, sustainable future for all, as well as making a positive impact in its communities. We are excited to collaborate with PBEd to upskill and train the youth, helping pave the way for a more resilient and skilled workforce,” Wells Fargo Philippines Country Head Mike Whyte said.
The Philippine Statistics Authority recently reported that the country’s unemployment rate eased to 4.5% in June from 6% a year ago. However, the June figure was higher than the 4.3% unemployment rate in May. — Revin Mikhael D. Ochave