Sticking Together Social Impact Bond
The Sticking Together Social Impact Bond will support approximately 870 young people aged 18-24 years, and with high barriers to employment, develop work readiness skills and capabilities to enable them to find jobs, and ‘stick’ in work for the long term.
The Sticking Together Project utilises an intensive coaching model to build rapport with participating young people and their employer(s) over a 60-week period. In addition to employment-related skills, the Sticking Together Project coaches support non-vocational skills development and provide assistance to address other barriers to employment such as health, home, and relationship challenges.
The Sticking Together Project coaching model was co-designed by SYC, The Australian Centre for Social Innovation (TACSI), and Queensland University of Technology (QUT), and has been piloted in South Australia, Victoria, and Queensland.
SYC will run the Sticking Together Project in the Southern Highlands and Shoalhaven, Illawarra and city and inner south areas of Sydney over four years, commencing in 2019. These regions are not currently serviced by the NSW Government’s Smart, Skilled and Hired Youth Employment Program.
The Sticking Together Project will be financed through a $5 million social impact bond developed by Social Ventures Australia and SYC, in partnership with the NSW Department of Industry and the Office of Social Impact Investment.