A stakeholder analysis involves identifying individuals or groups that are likely to be impacted by a program and are likely to have influence over the development of the program. It is important to understand whose interests should be taken into account when developing new programs because of the role stakeholders can play in determining the feasibility, implementation, and future success of a program. Stakeholders have the ability to bring in diverse resources, provide expertise, and leverage funds to enable the success of initiatives they support. Even the most popular and effective programs can fail to succeed if stakeholder support is not mobilized correctly.
A Pay for Success project focused on youth workforce development can have many different groups of stakeholder at the national and local level that will be impacted by workforce and employment services. According to Workforce Innovation Networks (WINs), a collaboration of Jobs for the Future, the Center for Workforce Preparation of the U.S. Chamber of Commerce, and the Center for Workforce Success of the National Association of Manufacturers, stakeholders pursuing workforce development programs form into various types of partnerships, including:
- Collaborations: Organizations work together to reach a shared goal
- Workforce development alliances: Separate organizations work together to advance shared workforce development strategies that go beyond the purview of any particular organization
- Collaborative leaders: People who engage the resources of sponsoring organization to achieve workforce development goals.
There are several national agencies and organizations that are likely to have a stake in developing youth workforce development programs. These include the U.S. Chamber of Commerce, Department of Agriculture, Department of Commerce, Department of Education, Department of Health and Human Services, Department of Housing and Urban Development, Department of Justice, Department of Labor, Department of Transportation, Department of Veterans Affairs, Faith Based and Community Initiatives, the Environmental Protection Agency, and Social Security Administration. Many of these agencies will be direct collaborators in workforce development programs because their mission is to grow employment opportunities and business investment. Others seek to provide a social safety net funded by taxpayer dollars in order to help workforce development programs become more self-sufficient.
On a local level, there are also a number of stakeholders to consider. The National League of Cities included a special section on workforce development in their 2010 State of America’s Cities Survey. The results of this survey indicate that the stakeholders that are most often collaborated with on workforce development programs are state and local chambers of commerce, community colleges, local businesses, and community based organizations. When planning for a youth workforce development PFS project it is wise to construct a list of all relevant stakeholders so that you can ensure that they are able to contribute to the vision of the project.
Authored by Daniela Eppler, edited by Morgan Snell and Joshua Ogburn.
Virginia Pay for Success Lab
The University of Virginia Pay for Success Lab launched in 2015 with financial support from Social Entrepreneurship @ UVA. The mission of the Lab is to reduce barriers for exploring PFS finance and inform the PFS field . The Lab undertakes research, project management, and program evaluations for PFS feasibility studies and projects. For more information, visit http://seatuva.org/pfslab