Future Shapers Social Impact Bond
|Primary impact area||Impact area||Geographic location of impact||Investment commencement||SDG alignment|
|Social||Education & Employment||UK||2015||
Future Shapers supports the social and educational development of young people in South Yorkshire, UK, helping them to get the most out of life. Targeting 14 to 17-year-olds, the program was supported by the social impact bond program between 2015-2018. The Future Shapers program was financed through a social impact bond between 2015-2018 in the Youth Engagement Fund. Sheffield Futures delivered the program, commissioned by the Department of Work and Pensions (DWP), and local co-commissioner Sheffield Council.
Young people taking part in Future Shapers Sheffield have been given a better chance of finding a job by developing their skills, attitudes and understanding as they move from education to the world of work. Personal mentors offered support tailored to the young people’s specific needs. This could include helping them to grow in confidence, improve school attendance, gain qualifications, take part in extra-curricular activities, socialise with other young people, look for work and more.
The program targeted young people who are at risk of not being in education, employment or training and dropping ‘through to cracks’ in the economy. This identified young people who have poor attendance at or have been excluded from school, who have experience in the youth justice system, are ‘looked after’, have special educational needs or disability, or are teen parents.
The project was launched in 2015 as a social impact bond, under which investors finance the project and receive payments based on results.
Over the course of the program, Future Shapers worked with 1319 young people across Sheffield. The program supported both young women and young men: 43 percent of young people on the program were female and 57 percent were male.
Some of the highlights:
young people have moved on to college
young people have achieved entry level qualifications so far
achieved Level 1 qualifications
young people are now in employment
have shown an improvement in behaviour and
have shown an improvement in attitude.
While the social impact bond and the program has come to an end, young people who have been supported through the three-year program have continued to progress, and positive benefits for the young people involved have continued.
For example, in January 2020, a more than 100 people in the Future Shapers gained employment through local job fairs with employers.