As the World Bank noted, private sector initiatives for creating jobs are often the most successful as they are more likely to have built-in incentives to respond to the needs of employers and job-seekers. Here are some well-known private sector led initiatives:
Accenture’s Skills to Succeed programme advances employment and entrepreneurship opportunities by using technology to drive impact at scale. To date, Accenture has donated $300m to the programme, equipping 1.2 million people with skills to succeed. The programme draws on two of Accenture’s core capabilities: developing talent and convening partnerships to achieve tangible, measurable results. It has set itself and its partners the following targets by 2020:
• Demand-led skilling to equip 3 million-plus people with the skills to get a job or build a business.
• Achieve employment and entrepreneurship outcomes and improve the sector’s collective ability to measure and report on these outcomes.
• Collaborate for systemic change to bring together organisations across sectors to create large-scale, lasting solutions aimed at closing global employment gaps.
Travel and tourism – is the world’s fastest growing job sector. It is expected to add 86 million new jobs by 2026. Chris Nassetta, president and CEO of Hilton Hotels, started his career cleaning toilets at a Holiday Inn. With six daughters of his own, he has partnered with groups such as IYF to find out more about how young people think about their career paths. A recent youth survey sponsored by Hilton found that only 17% thought hospitality was an attractive career, while 47% favoured technology. Consequently, Hilton runs an annual Youth in Hospitality celebration, along with apprenticeship programmes to expose more than 1 million youth to the hospitality industry – and tell the story of how one young man who started cleaning toilets rose to become CEO.
Banking on Change (BoC) partnership: Today, more than 2 billion people have no access to financial services. Barclays Bank joined up with CARE and Plan International UK to break the barriers to financial inclusion, especially for young people living on less than US$2 a day. From 2009 – 15, the partners enabled 758,000 people to gain access to informal financial services, with young people (under 35 yrs) starting nearly 117,000 income-generating activities between 2013 and 2015. BoC proved that no one is too poor to save and that savings groups provide ‘unbankable’ youth with their first step towards financial inclusion and asset-building. Now completed, the project created many insights and learning, including the Youth Savings Group Model, which outlines good programming principles for youth savings groups to increase their access to financial services and deliver economic empowerment through improved entrepreneurship and business skills. It also created the Linking for Change Savings Charter, which sets out international principles for linking informal groups of savers to formal banking products.
Branson Centre of Entrepreneurship – South Africa and Jamaica: The Branson Centre of Entrepreneurship focuses on providing aspiring entrepreneurs who have started a business with the skills, opportunities and inspiration to grow their businesses. It does not provide funding but assists entrepreneurs with access to networks, knowledge, resources and markets. Once they have completed the development programme, entrepreneurs are introduced to the Circle of Excellence, which gives them access to mentoring, coaching, additional programmes, workshops and initiatives. The centre also provides Business Bootcamps, impact accelerator programmes to teach business skills quickly and effectively.
UN-Exxon Road Map: It is common knowledge that when women are economically empowered, whole communities benefit. Stats such as “women produce half the world’s food” and “women spend 90% of their income on their families where men spend markedly less” have been known for a long time. But we still don’t know the most effective interventions to advance women’s economic empowerment. This Road Map is designed to fill that knowledge gap. Updated again in 2016, it confirms that the fields of entrepreneurship, farming, waged employment and young women’s employment are where the most promising high-impact, high-potential interventions lie. Among those interventions, perhaps surprisingly, saving money emerges as a top-value intervention. Owning title to a property is another necessity, especially for women. A third area of effective intervention for women is childcare, especially in urban areas.