The experiment was based on the need to employ and integrate immigrants more quickly and to help employers have access to workforce. The objective was to boost the employment of immigrants by bringing together companies and employees and by customising the training of immigrants according to what is needed at workplaces.
An experiment aiming to employ immigrants quickly made use of the SIB (Social Impact Bond) model of impact investing. The Ministry of Economic Affairs and Employment will hire an external evaluator to assess the success of the experiment. The preliminary results are encouraging.
The project was carried out in the Greater Helsinki area, Southwest Finland, the Tampere region, the Oulu region and Joensuu in 2016–2019. A total of 2,217 immigrants participated in the experiment, of which 1,034 were employed by the end of September 2020. Of the participants, 1,692 received training for more than 70 days. More than 50 percent of those who completed the training were employed.
The logistics, hotel and restaurant, cleaning, construction, financial administration, information technology and manufacturing industry sectors employed the most immigrants in the project.
“The experiment was significant because it tested new ways of funding and tailoring integration training to the needs of companies. The preliminary results are promising with more than half of the participating immigrants finding employment,” says Sonja Hämäläinen, Migration Director at the Ministry of Economic Affairs and Employment.