[Sub ID 4699] Coordinate training and employer (JMP Consulting)
Submission ID: 4699
Organisation name: JMP Consulting
Which priority group of the Try, Test and Learn Fund does your idea support?
Young carers, Young parents, Young students at risk of long-term unemployment
What need or issue are you trying to address?
The future prosperity of any country depends ultimately on the number of people in employment and how productive they are. A rich literature exists on the links between education, skills, productivity and economic growth.
In giving young people greater opportunity to work and up-skill, especially NEETs and those with children who are vulnerable to disadvantage, there are significant potential upsides for business, namely:
• Future proof the workforce by developing a pipeline of workers to replace the large number of baby-boomers who will retire in the next 15 years.
• Stimulate household spending and total economic growth by increasing productivity, growing economic independence, and improving income equality.
• Reduce government expenditure on welfare, releasing funds for investment in productive assets and growth initiatives.
Business has a vested interest in growing household wealth, and in turn, household spending. Depressed incomes result in a depressed economy. The cost of not addressing youth unemployment will be a continued drag on economic growth, and countless other undesirable social outcomes that are bad for business.
As an active participant in society, business must hear the concerns of communities and lead and implement a solution.
What is your idea?
Established businesses are generally good at employing and developing people. However vulnerable young people struggle to ‘get on the ladder’.
With support, businesses can more actively target young people most in need of an opportunity, and leverage their core capability in personnel development to set vulnerable people on a positive career path. This is good for business too, because engaged and loyal workers fuel business performance and innovation.
Our solution is providing pathways into employment, through a business-led initiative which provides a package of supports. Based on our experience, including project managing New Zealand’s Sustainable Business Council Social Impact project which focuses on an integrated employment approach for young sole parents, we know what works and will utilise existing successes and learnings to achieve the desired employment outcomes.
Business leadership can be harnessed from those businesses and employers who have a commitment to developing a sustainable youth talent pipeline alongside strong corporate social responsibility. This approach facilitates champions in the business community, which brings on other businesses and employers.
Through an integrated approach, we will coordinate activities across employer HR functions, employment service providers, training organisations and other relevant services to successfully broker young people into sustainable employment and careers.