Year Up's challenge in Detroit, as an Excel assignment, lies in constructing a robust program that addresses the opportunity gap for low-income young adults while simultaneously tackling the city's shortage of skilled labor. The central problem involves crafting a scalable strategy that seamlessly integrates cohort forecasting, internship placements, and long-term employment prospects. Success hinges on not only predicting and accommodating variable student interest but also establishing enduring corporate partnerships committed to the professional growth of Year Up graduates, ultimately contributing to Detroit's economic revitalization.Assignment Overview:
Year Up, a leading organization dedicated to enhancing the skills and education of low-income young adults is poised to make a significant impact in Detroit. With a mission to bridge the skills gap and empower individuals aged 18 to 24, Year Up aims to not only transform the lives of these young adults but also address the skilled labour shortage faced by businesses.Cohort Forecasting and Partnership Strategy:
To achieve this mission, Year Up has developed a comprehensive cohort forecasting tool. The objective is clear: one cohort for each of the 2021 start dates, two cohorts for 2022, and three for 2023, each comprising 40 students. The rigorous admission criteria ensure that one-third of applicants are admitted.
Cohort Forecasting Highlights:
- 2021: 240 applicants, 80 admitted (40 each in March and September)
- 2022: 480 applicants, 160 admitted (two cohorts in March and September)
- 2023: 720 applicants, 240 admitted (three cohorts in March and September)
After six months of training, students transition into internships. Year Up is committed to building partnerships with corporations, targeting 20 collaborations in 2022. The goal is to have 50% of partners hire three interns per cohort, with a 100% retention rate.
- 2021: 60 students
- 2022: 120 students
- 2023: 180 students
Alumni and Full-Time Employment:
Year Up's ultimate goal is to secure permanent full-time jobs for its graduates. Anticipating that 89% of interns move on to employment or further education, the projections are:
- 2021: 53 students
- 2022: 107 students
- 2023: 160 students
Impact on Detroit:
The cumulative effect of these efforts aims to provide jobs for 320 students, not only transforming individual lives but also contributing to economic growth in Detroit. This initiative addresses the current economic potential hampered by the shortage of skilled labour.
Recommendations for Future Success:
Acknowledging the potential for variations in student interest and corporate partnerships, Year Up must remain flexible. Staff expansion may be necessary in the event of increased interest, and careful screening of corporate partners ensures quality collaborations that align with Year Up's values.
- Scalability: Ensure the program can accommodate increased cohort sizes.
- Quality Partnerships: Collaborate with companies that uphold standards in work-life balance, salaries, benefits, and employee well-being.
- Continuous Support: Extend support beyond job placement to maximize the long-term success and growth of program graduates.
Year Up's entry into Detroit represents a commitment to transforming lives, fostering education, and contributing to the economic vitality of the city. The outlined strategy and considerations ensure not only the success of the program but also the enduring impact on the lives of the participants and the community at large.