Conclusion

Lessons learned

Our impacts increased as we reached the end of 2023 and five years of Futuremakers. As we progressed we saw an increasing shift towards outcomes, such as finding a job.

Across all pathways and most projects, although we touched many lives, we realised there is room for improvement in the tangible outcomes and outputs as a proportion of the numbers participating in intensive activities.

In the next phase of Futuremakers, 2024 to the end of 2030, we are acting on our learnings.
The most crucial ones are as follows:

Lesson learned

1 Previous evaluations cited an over-emphasis on training and lack of individual-level support, which limited outcomes.

2 Project durations are often not long enough. The projects that do generate outcomes involve longer time frames.

3 Monitoring is ultimately incomplete. It's difficult to gain a complete view of the impact of Futuremakers projects as we haven't consistently set and applied outcome targets for every project across Futuremakers.

4 The breadth of the Futuremakers portfolio has drawbacks. Namely, it's hard to measure, manage, and communicate results with so many very different projects, working with participants at different starting points, and in markets with varying levels of economic opportunity.

5 Projects are vulnerable to shocks. COVID-19, the recent cost-of-living crisis, and market-specific events such as conflict or natural disasters have all disrupted project implementation and likely, the corresponding results.

Response

1 We have added more mentoring, business incubation, and career and counselling support to projects. This is already driving better outcomes.

2 We are optimising project time frames to drive a larger proportion of meaningful outcomes. For the next phase, to the end of 2030, we are supporting projects with minimum duration of three years to maintain long-term relationships with our partners.

3 In order to improve the monitoring process and understand impact at a more granular level, setting periodic targets to track the progress will help us restructure projects for improved results. In-depth analysis will help us narrow down on the types of interventions and outcomes for the next phase of Futuremakers.

4 We launched Futuremakers with a diverse range of activities to help us understand the effectiveness of different approaches. With the results we now have, we are focusing on projects that generate greater impact.

5 Many of our partners have been investing in and seeing the benefits of hybrid approaches to mitigating these shocks. A greater reliance on local partnerships and strengthening operating systems are important factors.

Lesson learned

1 Previous evaluations cited an over-emphasis on training and lack of individual-level support, which limited outcomes.

2 Project durations are often not long enough. The projects that do generate outcomes involve longer time frames.

Response

1 We have added more mentoring, business incubation, and career and counselling support to projects. This is already driving better outcomes.

New pathways ahead

We’re committed to lifting youth economic participation. After five years of Futuremakers, we’re making clear strides on this ambition. Yet the economic challenges facing young people won’t disappear overnight. The journey will be a long one. With our partners showing continued resilience and commitment to Futuremakers, we’re optimistic for greater impact going forward. Especially as we learn and adapt Futuremakers projects accordingly. Uplifting women and micro businesses in particular will continue to be central to our mission. For the next phase of Futuremakers, to the end of 2030, we have committed to create and sustain over 140,000 jobs. We'll do this by empowering 70,000 disadvantaged young women to gain skills and sustainable employment, and supporting entrepreneurs building microbusinesses to create 70,000 jobs for their communities. Together we are elevating Futuremakers to support our communities and improve access to finance by unleashing the economic potential of young people.We’re also exploring how partnerships can help further boost Futuremakers’ impact. For example, in 2023, in partnership with our client, Primark, we worked with IDEO.org to design and test peer-led, financial health training for workers in factories in Vietnam. A successful pilot with approximately 170 workers tested a model supporting individuals to identify and understand their money personality, how to set financial goals, save and invest, improve their budgeting and understand available social protections. During 2024, we will explore how to scale this up across our broader Futuremakers portfolio.