While overall unemployment levels have decreased over the past several years, economic opportunity has remained out of reach for some—including large numbers of youth. As the labor market has tightened, competition for entry-level talent has increased among employers. These factors underpin the value of impact hiring: talent practices that create business advantage through hiring and developing individuals who often face barriers to economic opportunity.
The landscape of impact hiring is changing as more companies explore this practice as a viable talent strategy. FSG—with the support of The Rockefeller Foundation and Walmart—will facilitate and support a learning community for companies and workforce partners interested in innovating and driving best practices in hiring, retention, and advancement of Opportunity Youth and other populations facing barriers to employment. The cornerstone of the project is the Innovation Labs, which offer pioneering companies an opportunity to test impact hiring innovations while being provided access to consulting support, peer-to-peer cohort learning, and a communications platform to share best practice employment innovations improving their employment brand.
Why Join an Innovation Lab?
Innovation Labs provide employers with a low-cost, low-risk opportunity to realize the business value of impact hiring through:
Consulting Support: Expertise and technical assistance to support companies with implementing impact hiring pilots.
Peer-to-Peer Learning: At both the individual and company level to provide the type of support this type of intra/entrepreneurship requires.
Communication: A communications platform to share best practice employment innovations improving their employment brand.
For more information on our Innovation Lab, contact Tiffany.Chang@fsg.org