In the video above, Carla Javits, president and CEO of the California nonprofit REDF, explains the concept of a new kind of investment called social impact bonds and how this tool can positively impact the work of social enterprise groups.
The Aspen Institute Economic Opportunities Program recently hosted the second installment of its Big Ideas for Job Creation series, entitled Beyond Public Stimulus. This event focused on strategies that have demonstrated the potential to expand employment opportunities for individuals and communities.
The wide-ranging conversation included discussions about ownership opportunities for low-income families and teaching skills to individuals for better work force preparedness.
One innovative idea that continues to emerge is social impact bonds. “In the field of social enterprise we think this is especially promising, around a particular population, which is people who have been incarcerated,” Javits said. Watch the video above to learn how these pay-for-success bonds are reducing recidivism rates by funding programs to enable ex-prisoners to find and keep jobs.
Below, watch the full session from this event, and follow the conversation on Twitter using the hashtag #Ideas4jobs.