Why companies must invest CSR funds in skill development

0

CSR managers with a mandate to invest funds in education face several challenges – choosing the domain or area of education to invest into, finding reliable organisations who will use the invested funds well, and finally, measuring the impact of their investment.  Each of these challenges are complex; hence typically, they take a lot of time and effort to solve.

Skillveri would like to propose that investing in Skill Development is an excellent investment of funds earmarked for CSR/education. This will create immense value for technical education offered at ITIs through modernization of infrastructure and curriculum and contributing to technology adoption in disciplines like Welding and Painting.

Why investing CSR funds in Skill Development creates value for ITIs ?

Students in ITIs receive very little or no practical training required to get into the job market, due to lack of necessary and fundamental training equipment or shortage of resources. On the other hand, Industry requirement for skilled labor is constantly on the rise, and without adequate modern training, the students in ITIs are not equipped with the right kind of skill set that meet industry expectations.

We believe, Corporate Social Responsibility  (CSR) can play a key role in changing the livelihoods of young ITI students.  When it comes to philanthropic investment in education, most of the focus is at the school level. With a lot of activity now happening in this space, most large donors/corporates who seek to make a difference at scale, end up opening their own schools or after-school centers. Mid-sized and small company donors struggle to find out if their contributions are having a measurable impact as the results of schooling interventions take many years to show up.

However, investing in the skilling of adult learners has an immediate and measurable effect on employability and can transform lives. Companies with a focus on manufacturing excellence find it a strong, future forward contribution to their sector, enabling the creation of a cadre of highly skilled workers. By supporting the latest technologies for the training and skilling of workers, they show the way to the future.

Companies with a commitment to the national interest as part of the Skill India / Make in India missions of the Government of India , can make a direct contribution to building the ecosystem for manufacturing excellence in India. State-run educational institutions tend to lag behind in the adoption of new technologies and new ways.  They need visionary organizations to function as champions, leaders and change agents.

Related article: Global presence of Made in India Skillveri simulators – Read more: https://www.nationalskillsnetwork.in/global-presence-of-made-in-india-skillveri-simulators/

Investing CSR funds in skill developmentHow Skillveri’s CSR partnership program works

Interested companies invest CSR Funds to buy and install welding/painting simulators in ITIs that service the requirements of a set of manufacturing companies in industrial hubs. 

Skillveri’s team will partner the donor company’s CSR team end-to-end, making the process seamless and easy. 

Skillveri’s team will identify a list of high potential recipients and organize the required interfaces between the Donor team and the receiving ITI team. 

After installation, Skillveri’s team will also keep track of immediate usage as well as the long term impact.

Immediate benefits of investing CSR funds in skill development

Many companies with undeployed CSR funds have a year-end deadline to meet.  To help potential investors avoid last minute hassles, we have “early bird” schemes in place. As an incentive to  companies that finalise their CSR investment decisions early, the early bird scheme gives cost savings of 12% and thus enables them to make a greater impact through their funds. A typical investment can be as low as Rs.10 lakhs for an entry level simulator package, or Rs, 25 lakhs for simulators along with actual equipment upgrade package.

Skillveri is a NSDC recognized company for Skill India Mission, and have prior experience of having worked with CSR Foundations of large organizations like Cognizant Foundation, Ambuja Cement Foundation, Maruti Suzuki Foundation, among others.

Guest Author: Sabarinath C Nair, Founder – CEO, Skillveri Training Solutions Pvt Ltd.

For more information and a demo of our simulators, please contact us – sales@skillveri.com

Leave A Reply