With the latest figures showing job creation lagging behind government targets and youth unemployment remaining stubbornly high, Social Ventures Australia (SVA) is calling for government, business and community organisations to work together on innovative approaches to improve the situation.

‘All the indicators show that a new approach to jobs is needed if we are to enable all Australians real opportunity to be involved in meaningful employment,’ said Kevin Robbie, Executive Director of Employment at SVA.

‘We need to shift the mindset from cost cutting to understanding that clever investment in this issue now will mean real savings in the future. Otherwise we risk creating a lost generation, with significant social problems and welfare spending arising from that.’

‘Part of the solution will come from looking at best practice internationally and how to bring that into Australia, as well as how to scale initiatives that are already working here. Successful school-to-work transition programs like those run by the Beacon Foundation will be a critical part of that, as will including employers in the design of training and placement programs.’

‘We know that employers are willing to give young people a fair go but training, employment placement and community support systems need to be more effectively aligned to make this happen.’

‘Exploring new funding models like social impact bonds and social procurement commitments could also assist in shifting the policy mindset to understand that intelligent social investments can have a positive impact on the sustainability of the government balance sheet into the future.’

‘With Australia facing significant skills shortages, unemployment is a waste of our productive capacity, and deliberate evidence based policy interventions are needed to turn this around.’