J.P. Morgan Partners with Ai You Foundation in Support of Healthcare Social Workers’ Development
J.P. Morgan today announced, in collaboration with Ai You Foundation and as part of the firm’s commitment to driving inclusive economic growth and narrowing the skills gaps in China, the launch of a new healthcare social worker training program to help address workforce shortage issues in China’s emerging healthcare industry.
The program supported by J.P. Morgan and implemented by Ai You Foundation will provide targeted youth with systematic training opportunities aimed at increasing their understanding and knowledge of healthcare social work as well as providing them with the skills required by employers in this industry. The program also plans to offer internship and career opportunities to qualified participants in hospitals and social organizations.
“Qualified healthcare social workers are in huge demand in China. We are very pleased to partner with Ai You Foundation on this exciting project. Workforce readiness is one of the focus areas of J.P. Morgan’s philanthropic initiatives. We are investing more than $350 million to support demand-driven skills training around the world,” said Mark Leung, CEO of J.P. Morgan China. “By expanding high-quality, career-focused education and training programs, we expect this program not only to provide the participants with better career prospects, but also to upgrade the professional skills level in this industry in the long run.”
“China represents one of the largest opportunities in the world for many of our clients and for JPMorgan Chase. We are committed to bringing the full force of JPMorgan Chase and our resources to the country including our efforts to strengthen communities through philanthropic initiatives.” Leung added.
Research conducted by Ai You Foundation finds that while the ratio of healthcare social workers to patients in China is lower when compared to many developed markets, students in China who major in social work may still find it difficult to succeed in the marketplace. Approximately 10,000 social work majors graduate from more than 200 colleges in China each year, but due to the lack of a clear career path or an acute skills shortfall only 10% to 30% of the graduates actually enter the social work industry, with the majority giving up their professional trainings and seeking positions at organizations including government agencies or companies.
“Healthcare social work plays an important role in promoting the shared healthcare services, establishing a harmonious doctor-patient relationship and society, as well as improving people’s lives and the service quality in the industry. Ai You Foundation has been exploring a new approach to foster professional healthcare social workers, standardize the service level, and educate more people about the significance of healthcare social work. With the support of J.P. Morgan, we will further enhance the program in order to accelerate the development of healthcare social work in China.” Yuan Geng, Secretary-General of Ai You Foundation said.
China is a strategically important market for J.P. Morgan globally. The firm supports programs and initiatives that focus on improving workforce readiness, boosting small businesses and creating new opportunities for young people and disadvantaged communities. To date, the programs have helped 160,000 people in China.