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A SUCCESS STORY OF PUBLIC-PRIVATE PARTNERSHIP
ADDRESSING RECRUITMENT & RETENTION CHALLENGES OF MICROFINANCE INDUSTRY
PSDF PURPOSEWe shape the future
well-being of our poor and vulnerable youth by giving them access to skills training of the highest standard so
they can find sustainable employmentand income generating
opportunities in Pakistan andbeyond.
PAKISTAN YOUTHLANDSCAPE
YOUTH EDUCATION ATTAINMENT LEVELS
PRIMARY 60%
SECONDARY 28%
TERTIARY 12%
60%IN UNSTABLE OR LOW PAID JOBS
35%UNPAIDJOBS
65MPOPULATION BETWEEN 16 & 29 YRS
36%
2MENTERING WORK FORCEEVERY YEAR
210MTOTAL POPULATION
DEFINING THE PROBLEM
Skills training institutes believe they are providing the right skills to the youth
>70%
McKinsey & Company Education to Employment Report 2013
Youth globally does not think it has the right skills to enter the workforce
>50%Employers globally don’t think youth is being trained in skills required by the industry
70%
WHEREAS
TVET SECTORCHALLENGES IN PAKISTANPakistan spends roughly USD 500 M on skills trainings annually
Technical and vocational sector is dominated by public sector institutes
Negligible active industry engagement with the design, development and implementation of skills trainings
Low employment outcomes
No premium on salary: skills graduates treated the same as unskilled
MICROFINANCE BANKCHALLENGES IN PAKISTAN
Typical challenges of the microfinance banks with the loan officers recruitment and retention are:
Nonexistence of formally trained human resource Incorrect selection of talent Substantial variance in performance and understanding of job High levels of attrition
PSDF AND ITS INTERNATIONAL PARTNER GENERATION YOU EMPLOYED -DEVELOPED A NEW PROGRAM FOR THE MICROFINANCE INDUSTRY
PSDFPROBLEMSOLVINGAPPROACH
GENERATION YOU EMPLOYED IS ACTIVE IN 9 COUNTRIES
PROVIDES TRAINING IN 24 PROFESSIONS ACROSS 4 SECTORS :
CUSTOMER SERVICES & SALES
IT / DIGITAL SKILLED TRADE
HEALTHCARE
SCHEMEOBJECTIVE
EMPOWER YOUNG PEOPLE TO BUILD THRIVING, SUSTAINABLE CAREERS AND TO PROVIDE EMPLOYERS HIGHLY-SKILLED, MOTIVATED AND TALENTED WORKFORCE.
GEOGRAPHICFOCUS
PILOT PHASE:LAHORE
TARGETING11M
THREE LEADING MICROFINANCE BANKS i.e. KHUSHHALI, FINCA AND TELENOR MICROFINANCE BANK PARTNERED WITH PSDF FOR THE PILOT PROGRAM
INDUSTRYPARTNERS
SCHEME OVERVIEWJobs and employer engagement on ROI from the start
Recruit students based on intrinsic, effort, and employment standards for the profession
4-12 weeks skills training of technical, behavioral, mindset & professional presence
Return on investment for
employers, students, and
society
A community that follows
graduates into the workplace
Data at the center
Social support services & mentorship along the way
RETURN ON INVESTMENT IS TRACKED WITH EMPLOYERS FOR UP TO 12 MONTHS OF THESE GRADUATES
ACHIEVEMENTS & RESULTS
16 candidates were selected after intensive screening of over 450 applications
100% job offers to graduates
In the first month’s evaluation all graduates are currently on job and are amongst the top performers of their respective branches
One of the banks is currently discussing outsourcing their entire training of loan officers to PSDF
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