Move towards better career advice
In a bid to inspire more young people across the country, employers are working to bring more businesses and schools together.
A total of £20 million has been granted by the UK government to kick-start the new company that will help more young people in England receive valuable career advice, BBC News reports.
The idea for the initiative arose following concerns that careers advice has gone downhill since schools took responsibility for it from local councils back in 2012.
During a visit to London's Crossrail project, education secretary Nicky Morgan said: "It is worth employers investing in the future and they want young people to have the skills that they are going to be able to use in their workforce.
"They tell us they want to do more work with schools but often aren't sure who to contact and how best to identify talent for the future."
The new company will be chaired by Christine Hodgson, the current executive chairman of outsourcing company Capgemini UK.
Essentially, schools and colleges will be linked with employers, who together will work to boost careers advice in areas where it is currently lacking.
Not just this, but the new company will also provide feedback to the government about the preparedness of young people for employment.
However, past research into schools' careers guidance has shown that a number of employers have no desire to engage with schools because they feel there are no real benefits to their business.
This lack of employer commitment has led to youngsters making wrong decisions and being confused about which career path to take, subsequently denting their futures.
Graham Stuart, chairman of the parliament's education select committee, believes the first step is for schools and colleges to understand the importance of careers advice and how it can help shape the futures of young people today.
Similarly, John Longworth - director general of the British Chambers of Commerce - urges schools and businesses to work in unison, so more young people will receive the most effective careers guidance.
For more information, Virtual College offer a selection of online tools and resources to further education colleges and training providers at http://vceducation.co.uk