Skill India Impact Bond
Objective:
The pandemic has had a disastrous impact on women and employment. With an already low female participation rate at 20.3%, the crisis left many more jobless. Further, only 10% of women stay in their jobs post-skilling. Considering this problem, The National Skill Development Corporation (NSDC) has collaborated with a coalition of organisations to create the first and largest Impact Bond for Skilling. Organisations including HRH Prince Charles’s British Asian Trust, the Michael & Susan Dell Foundation, The Children’s Investment Fund Foundation, HSBC India, JSW Foundation and Dubai Cares, with FCDO (UK Government) & USAID have brought together USD 14.4 million. Learnet Skills Limited is a training partner under this project.
It aims to support 50,000 youth over four years, the majority of whom will be women and girls. Especially after COVID-19, recovery sectors like retail, healthcare, logistics, and apparel require skilled people. These youth will receive training and access to wage employment. Skill Impact bond has the potential to make a transformational impact especially in the lives of women.
Learnet’s Involvement:
We are implementing SIIB in 11 regions and 30 centres. We will provide training for four job roles that are Sewing Machine Operator, Retail Sales Associate, Customer Care Executive – Call Centre, and Food and Beverages – Steward under Apparel, Retail, Telecom and Tourism sectors.
Under SIIB we have 50 domains and 30 VAM trainers engagement as part of the project implementation. The total target assigned to us is 1500 for the first cohort starting from 15th Nov 2021.
Key outcome metrics for SIIB are:
SIIB will focus on the following:
- Expectation setting: Through Week 0 Program
- The credibility of training by monitoring Trainers Performance using ‘Torsh’
- Quality of Placement: Through GoodWorker with clear details on every opportunity to allow students to choose the right job for them
- Continuous support: 12 months mentorship