Lloyds Banking Group to invest £100 million in future skills as it expands support for young people

Lloyds Banking Group has announced as part of its new strategic phase a £100 million investment to build future skills. This includes reskilling 20,000 colleagues alongside an ambition to support a further 600,000 young people across the UK by 2030 – taking its total support for young people to one million in a decade. 

The commitment includes apprenticeships, graduate programmes, work experience, placements, careers education and employability support, building on support already provided to more than 400,000 young people over the past five years. Lloyds Banking Group has created 12,000 apprenticeships over the past 12 years and delivered 60,000 work experience opportunities since 2022.

Supporting the next generation

Alongside its investment in colleagues, Lloyds Banking Group aims to support more than 600,000 young people through skills, careers, employment and financial education programmes by 2030. The ambition reflects the growing importance of helping young people develop workplace skills, gain experience and access opportunities that can support long-term careers. 

The Group will continue to provide routes into employment through apprenticeships, graduate programmes, work experience, placements and careers support, while expanding initiatives designed to help more young people build confidence and prepare for the world of work.

Creating pathways into work

As part of its ambition, Lloyds Banking Group will expand opportunities for young people to gain workplace experience and develop practical skills.

This includes offering branch-based work placements for young people aged 18-24 who are not currently in education, employment or training, helping them build confidence, develop workplace skills and gain hands-on experience in a customer-facing environment.

The Group also plans to host Youth Hubs in its offices, providing work-readiness training, careers support, financial literacy and skills development to help young people prepare for employment, working with the Department for Work and Pensions.

Building skills for a changing economy

The announcement comes as employers, educators and policymakers place increasing emphasis on strengthening skills, expanding routes into employment and helping more young people access opportunities to succeed in the workplace. 

Alongside its commitment to young people, Lloyds Banking Group is investing £100 million in future skills. Part of the investment will support 67,000 colleagues to develop future-ready capabilities through programmes including the Group's AI Academy and Leading with AI initiative.

The investment will also support expanded reskilling opportunities, helping colleagues build new capabilities and transition into future-focused roles as technology continues to reshape the workplace.

Lloyds Banking Group is also a founding signatory of the Financial Services Skills Compact, a sector-wide initiative focused on developing future skills, strengthening routes into employment and building a workforce equipped for a changing economy.

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