SAN FRANCISCO--(BUSINESS WIRE)--REDF, a leading venture philanthropy invested in employment social enterprises (ESEs) released a new 5-year strategic plan. With a focus on equity and inclusivity, the plan aims to accelerate impact for ESEs that create quality, supportive jobs and skills for people overcoming barriers to employment, including those who have been incarcerated, homeless, or historically impacted by biased hiring practices and policies. Download the report.
“Too many people are being left behind in today’s job market, despite their talent and desire,” said Carla Javits, REDF president and chief executive officer. “Through our investments and actions, REDF will prioritize the voices of those who have experienced the most acute repercussions of the COVID-19 pandemic and systemic bias to provide pathways toward quality jobs and sustaining wages.”
The strategic plan is focused on accelerating the growth and impact of the ESE sector through deepened capital investments, specialized capacity building consulting, and marshaling of public and private sector support and partnerships. Specifically, the plan aims to tackle workforce equity gaps through three core commitments:
- Increased partnerships with ESEs led by people of color and people with lived experience for mutual learning and support, driving more capital and technical assistance to help them grow and impact the lives of those with the most barriers to employment;
- Identify and promote the most impactful approaches that ESEs can do individually and as a field to create more equitable outcomes for the individuals they serve, with a focus on Black and Latino workers; and
- Amplify the economic mobility of ESE talent by strengthening the connections with competitive employers that provide higher wages and growth opportunities to their frontline workforce.
“By 2025, we aim to inspire more policymakers, business leaders, philanthropists, and nonprofits to demand and invest in ESEs, and together with us build an inclusive economy that works for everyone,” said Javits.
Employment social enterprises are mission-driven businesses that provide paying jobs combined with training and services that help employees gain the stability, skills, and confidence they need to stay employed and build a better life. Because social enterprises reinvest their profits into their businesses, they can help more people, require less outside funding, and are more sustainable.
As the strategic plan is put into action, REDF will continue to seek collaborative opportunities with visionary leaders who wish to further the life-transforming impact of ESE jobs and build a thriving and inclusive economy.
REDF (the Roberts Enterprise Development Fund) is a pioneering venture philanthropy accelerating a national movement of employment social enterprises – mission-driven, revenue-generating businesses that empower people striving to overcome employment barriers to get jobs, keep jobs, and build a better life. Independent research shows this approach works. It leads to greater economic security and mobility and a significant rate of return to society—$2.23 in benefits for every $1 invested. For more information, visit www.redf.org.