Latest news from the Sticking Together SIB
Sticking Together SIB
Investor update, November 2019
Above: Sticking Together Project participant completing Traffic Control Training
Dear investor,
We are pleased to provide you with an update on the Sticking Together Social Impact Bond (Sticking Together SIB). SYC has been delivering the Sticking Together Project across the Sydney City and Inner South, Illawarra and Shoalhaven/Southern Highlands regions since April this year. The program supports young people experiencing multiple barriers to employment, providing them with a dedicated work coach for 60 weeks to help them find and maintain work.
As at the end of September 2019, 220 young people had been enrolled in the program, of which 26 have been exited for reasons such as moving out of the program catchment area. 80% of the young people who remain in the Intervention Group are actively engaged with their coach.
To date, enrolments have been strongest in the Illawarra region, which accounts for almost half of enrolments. The team is continuing to work with jobactive partners to fill all the 225 coaching places (25 places for each of the nine coaches). Information sessions are being held with jobactive providers and the sign-up process is being simplified.
Overall, there is a high degree of complexity in the lives of participants. Of those enrolled, 27% identify as Aboriginal or Torres Strait Islander; over half did not finish high school; and one third are experiencing mental ill-health. Participants also have high past usage of a range of government services, including 15% having an offending history, one in five having been in out-of-home care and 29% having previously stayed at a refuge or in supported accommodation.
Transport is a key issue many participants face, with 83% having no driving licence. This presents particular difficulty in the Illawarra and Shoalhaven/Southern Highlands where public transport options aren’t readibly available.
Above: Coach and participant Katie celebrating four successful months of full-time work and personal progress.
Story from a Coach about Katie
- Weeks registered with Centrelink: 62.
- Pronoun: They/Them.
'Katie started with the Sticking Together Project in April 2019. When I met Katie, they were feeling very anxious about the little employment they were getting and had felt anxious and fearful about going to work due to issues with the manager.
'Katie really wanted a full-time job and had a great attitude but could really benefit from talking things out and role-playing new behaviours. After applying for many positions, Katie was offered a new job in a real estate agent that they were very excited about.
'I managed to create a relationship with the employer and would check in on how Katie was doing. The feedback I was getting was great and in my fortnightly meetings with Katie I could pass this on to help Katie feel more confident that the employer was happy.
'Over the last four months we have used the Sticking Together tools to help Katie become more confident in conflict resolution with customers and fellow employees and set up goals that Katie can achieve. Katie has become a valued member of her workplace and with the use of role-play and the Sticking Together tools, Katie is now mentoring another employee. Katie’s employers have seen the value of Katie and have paid for Katie’s real estate training to further Katie’s career with the organisation. Katie now has plans to travel to Japan.
We celebrated four successful months of full-time work and personal progress over Korean ice-cream and it felt great!'
* The actual name of the Sticking Together participant has been changed to respect their privacy.
Sticking Together Project Relationship Managers have been busy creating employer and community relationships.Some large employers in the warehousing, freight, labour hire and retail industries have come on board. Relationship Managers are also connecting with the local community through local councils, youth networks and First Australian employment networks.
Some participants have been successful in securing a job, with 57 jobs commenced to date. There have been 12 job losses for varying reasons including a lack of shifts, personal deficits or choosing to leave for a new job. Young people who are not yet in work are engaging in a range of work-like activities to prepare them for employment, including accredited training, pre-employment programs and volunteering.
We look forward to providing you with updates on the progress of the Sticking Together SIB over the years to come. If you have any questions please do not hesitate to contact us at stickingtogethersib@socialventures.com.au.
Elyse and Casey
Impact Investing, Social Ventures Australia
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