Hearing multiple conversations about unemployment and slow job growth is not uncommon. Reports of slow job creation, and increasing unemployment rates have been common headlines across varieties of news outlets. Although there is plenty of debate as to who and what caused the recent economic lag, there is one thing we can all agree on: we need to do whatever we can to support job growth and entrepreneurship to help revive the economy. Big brands can help.
The Business Civic Leadership Center reported, “Beyond hiring, large businesses are also advancing job creation through promoting entrepreneurship.” Their research confirms that indirect job growth and business ecosystems are key contributors to a growing economy. These big brands understand that creating jobs for their own company is not enough; they must also fund job creation initiatives beyond their company. They promote job growth, through entrepreneurship training, skills development, microloans, and business classes. These are the Top 10 Big Brands Supporting Job Creation Initiatives:
10. UPS: Ken Sternad, president of the UPS Foundation says, “the National Urban League is our No. 1 partner.” Since 1962 UPS has donated over $15 million to the organization in addition to $25 million in support of additional local initiatives. The NUL is dedicated to, “enabling African Americans to secure economic self-reliance, parity, power and civil rights.” UPS executives even serve as teachers and National Urban League officers at the national and local level.
9. Dow Chemical: Recognizing a skills gap in the labor market, Dow Chemical invested in spreading education. Dow Chemical provided a sizable grant that allowed Los Medanos College to complete the construction of a new modular lab to train future electrical and instrumentation technicians. With cutting edge technology and curriculum students were able to excel, at the closing of the first year the lab held a career fair connecting students to opportunity.
8. General Mills: Those new to the job search will constantly hear, “networking is key.” Emphasizing this point, General Mills partnered with The BrandLab, a Minneapolis- based nonprofit to host a networking event for students. General Mills is a founding sponsor of The BrandLab, the organization provides students from diverse socioeconomic programs the opportunity to gain experience, training, and exposure in careers in advertising and marketing. The program offers classes, internships, and has awarded more than 40 college scholarships.
7. MetLife: The MetLife Foundation is a longstanding tradition of MetLife culture supporting a variety of economic growth programs. Since it was established in 1976, MetLife Foundation, as a whole, has provided more than $530 million in grants. Special Investment Programs support community ventures that do not meat typical investment criteria. These projects tend to meet specific social needs such as affordable housing, health care centers, arts, education, and economic development.
6. Citigroup: In 2011 the Citi Foundation invested $78 million in philanthropic and economic empowerment projects globally. By establishing strategic partnerships the Citi Foundation is able to support over 800 different programs supporting and creating hundreds of thousands of jobs. Citigroup provides training for those seeking to enter the formal economy knowing, “jobs are a foundation of economic opportunity and can be key drivers of financial inclusion.”
5. JP Morgan Chase: As a partner of the Institute for Verterans and Military Families JP Morgan Chase has committed to a donation of $7.5 million over five years. Together these programs partner with the Entrepreneurship Bootcamp for Veterans with Disabilities, which teaches returning veterans the ins and outs of starting a new business. JP Morgan Chase’s chief administrative officer Frank Bisignano said, “we owe our nation’s veterans more than gratitude- we owe them the opportunity to live successful lives following their service.”
4. Syracuse University: The South Side Innovation Center was created by Syracuse University’s Whitman School of Management. SSIC provides multiple programs from for entrepreneurs in the local community. SSIC provides, “office space and equipment, hands-on training and counseling, roundtables, networking, classroom courses, business plan development, access to loans, marketing assistance, and help in opening markets.” They are also partners with JP Morgan in the Entrepreneurship Bootcamp for Veterans.
3. Create Jobs USA: Founded by Starbucks and The Opportunity Finance Network Create Jobs USA is committed to making employment opportunities in the United States. By donating five dollars, donors receive an American made bracelet that reads, “indivisible.” One hundred percent of the proceeds go the Create Jobs USA fund, which provide loans to underserved community businesses, including small businesses, microenterprises, nonprofit organizations, commercial real estate, and affordable housing.
2. The Center for Employment Training: With over 17 locations in five different states, the Center for Employment Training’s sole mission is to make employment opportunities accesible. Providing job-training, language classes, and basic skills classes, CET aims to fight poverty, decrease dependence on public aid and promote development. CET’s model simulates the workplace so students are fully prepared with marketable skills. The Center for Employment Training also offers support services and counseling to assist in self-sufficiency.
1. FedEx: Empowering over 9 million children worldwide, FedEx’s sponsorship of Junior Achievement Worldwide helps “young people appreciate and understand the role of business in our society, and to cultivate business, teamwork, and leadership skills.” It is the world’s largest organization dedicated to preparing young adults to exceed in a global economy. FedEx doesn’t only support this institution financially, but thousands of FedEx team members volunteer to educate students on business, trade and economies around the world.
At SmartRecruiters our driving cause is to create Zero Unemployment by making hiring easy. In order to give back to our community we host Give Labor events that provide job seekers with resume and cover letter advice, mock interviews, social profile updates and if possible introductions. These social good initatives create a ripple effect and are able to sustain a culture of giving outside of our office walls. These companies know that in order to sustain a thriving economy we need support our neighbors, and community to by providing as much we can to help them grow personally and gain economic independence.
The BCLC reports that, “in addition to gifting donations to nonprofit partners associated with entrepreneurialism, the financial giants have also started programs to incubate innovation as part of their core business.” Taking a cue from these companies is key, though we may not have the same financial capabilities the actions of Give Labor are simple and effective.
Learn More about Job Creation Initiatives from the U.S. Chamber of Commerce’s Business for Good Map: