New working life and a sustainable economy
Changes in work and pressures on the public economy are shaking the very foundations of the Finnish welfare society. We are opening a dialogue on these phenomena and seeking solutions to deal with their effects.
Finland to become a member of the Global Steering Group for Impact InvestmentPublished July 10, 2017
WHAT IS IT ABOUT?
Work is at the core of the Finnish welfare society: it has a major impact on people’s livelihoods and social connection, and on the ability of the public sector to promote well-being.
Digitisation, robotisation and globalisation are reshaping industries and companies and changing professions and job descriptions. Jobs come and jobs go. Who would have believed just ten years ago that buses would drive themselves and postal workers could be hired to mow lawns?
Whether changes come quickly or gradually, it is in everyone’s interests that we are prepared for them, such as by developing our skills. This will prevent the force and rate of change from taking us by surprise.
Sitra’s New working life and sustainable economy theme analyses new phenomena in the world of work and offers solutions for coping with their effects. We help individuals, companies and other organisations prepare for changes in working life and we also want to provide them with tools for this purpose.
What do we do?
We run practical trials, draft reports and present their findings in public discourse.
The Transformations of work focus area places an emphasis on the individual’s perspective, which it approaches with a positive spirit and by offering opportunities. The goal is to increase opportunities for people to find employment and the amount of work undertaken in Finland.
In order to ensure that as many people as possible find the right job and role in employment, the labour market must also function more effectively. When this happens, the right people can be easily matched with unfilled positions. This is what we want to promote.
The Impact Investing team develops new types of tools, which are used to promote and finance well-being as effectively as possible. Impact investing makes it possible to prevent social challenges effectively and in a resource-wise manner, including through the use of private equity.
Sitra has been building an ecosystem for impact investing in Finland for just under three years. Work on the ecosystem started virtually from scratch and has made excellent progress: the first social impact bonds have been launched and, gratifyingly, there is a great deal of interest in them from the public sector and among companies, organisations and investors.