Evaluation of Social Finance Pilots
SRDC is conducting an evaluation of two pilot projects for Essential Skills training based on performance-based funding models. The Skilling UP pilot is led by Alberta Workforce Essential Skills, providing workplace essential skills training to lower-skilled workers in the manufacturing sector. Employers pay up-front for the training, and are reimbursed up to 50% of their investment if their workers achieve targeted skill gains. The second project is a social impact bond (SIB), in which private investors pay up-front for essential skills training for low-skilled unemployed persons, and are repaid their capital plus interest if participants achieve skill gains.
Colleges and Institutes Canada is the intermediary for this Essential Skills Social Finance (ESSF) social impact bond, with three College delivery partners: Douglas College, Confederation College, and Sask Polytech. In addition to serving as proof-of-concept of the implementation of the two models, the pilot evaluations are measuring a range of outcomes of interest including skill gains, and indicators of employability and performance measurement.
Project Details
Published: January 2019
Capability: Socio-Economic Impact Assessment - Experimentation
Policy Area: Adult Learning - Adult Training - Workplace Training - Literacy and Essential Skills, Career Development and LMI, Employment - Employment Supports and Services, Social Finance
Population: Low-income Populations - Low-skilled Workers - Social Assistance Recipients - EI Recipients
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