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WEF Jobs Reset Summit: Building Back Broader in the Economic Recovery

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The World Economic Forum Jobs Reset Summit 2021 convened over 500 leaders this week from government, business and civil society to shape a new agenda for growth, jobs, skills and equity. The action-focused virtual event focused on laying the foundations of a new economy, one that provides opportunities for all.

“The pandemic has exacerbated existing inequalities – without action, we can expect a K-shape recovery. The Jobs Reset Summit and associated initiatives are dedicated to urgently “building back broader” by expanding access to education, reskilling and quality jobs, by embedding gender parity, racial equity and social justice, and by providing a platform for important debates on new growth models, taxation, the economic outlook and job creation,” said Saadia Zahidi, Managing Director, World Economic Forum.

Accelerating the Reskilling Revolution

Launched at the World Economic Forum’s 50th Annual Meeting, the Reskilling Revolution platform aims to provide one billion people with better education, skills and jobs by 2030.

A new alliance—SkillsLink—was announced at the Summit as a core component of the Reskilling Revolution. The alliance, focused on making skills the currency of the labour market, initially comprises 18 multinational companies and online learning providers, representing over 200 million learners worldwide. The alliance will adopt a common language for skills; recognize skills-based credentials; partner for skills-based learning delivery; and adopt and champion skills-based workforce strategies.

Additionally, Ministers of Education joined leaders from technology, online learning businesses and foundations to lay the groundwork for a new initiative on Education 4.0, dedicated to embedding a focus on education as a key part of economic recovery policies.

Good Jobs and the New Economy

An initial 14 companies formed a Partnership for New Work Standards aiming to set a new benchmark for a healthy, resilient and equitable future of work. Participating companies will co-create a framework for good work standards, with input from trade unions and independent experts, make commitments to raise the bar on good work for their sectors, and put a future of work strategy on their board’s agenda. Find out more about the founding companies here.

Building Back Broader: Policy Pathways for an Economic Transformation, a policy brief, was launched at the Jobs Reset Summit. As the world emerges from the COVID-19 crisis, the report identifies the most urgent economic and social challenges and lays out concrete response options to shape an inclusive recovery. The areas of focus include fiscal and monetary policy, jobs and wages, education and skills, equity and social justice, building new markets, and managing frontier risks. Across these six areas, the publication emphasizes policies and partnerships that will offset the current trend towards K-shaped recoveries within and between economies and create more inclusive economic and social outcomes.

A quarterly Chief Economists Outlook was also published during the Summit. Based on consultations and surveys with the Forum’s Community of Chief Economists, this edition provides a snapshot of the state of the recovery and provides forecasts on growth, inflation, debt sustainability, the risk of economic scarring and social unrest.

Embedding Diversity, Equity, Inclusion and Social Justice

The Partnering For Racial Justice In Business coalition, launched at Davos Agenda in January 2021, now comprises 58 organizations, representing 13 industries and 7 million employees. The group advanced its discussions on tackling racism in the workplace and driving systemic change to embed equity in the new economy.

The Closing the Gender Gap Accelerators are a global network of national efforts to close gender gaps and reshape gender parity for the future, supported by the Forum. At this week’s summit, Kazakhstan announced the establishment of an accelerator. The first of its kind in Central Asia, Kazakhstan joins Argentina, Chile, Colombia, Costa Rica, Dominican Republic, Egypt, Panama and Peru in creating public-private collaborations focused on increasing women’s participation in the workforce, closing the gender pay gap, and helping more women develop in-demand skills and advance into leadership roles.

Finally, the pandemic and its fallout has created an opportunity to increase the ambition level of businesses in making progress on social justice. A broad alliance of business leaders and corporate philanthropies came together at the Summit to better define and achieve ambitious targets on the “S” in ESG.

What Leaders said about Shaping an Inclusive Recovery

The event brought together over 500 leaders from government, business, academia and civil society to shape a new agenda for growth, jobs, skills and equity. Read what they had to say about the event here, with quotes from leading voices including: John Goodwin of The Lego Foundation; Wendy Clark of Dentsu International; Professor Mariana Mazzucato of UCL, Alex Liu of Kearney; Dr. Tariq Al Gurg of Dubai Cares; Sharan Burrow of ITUC; Badr Jafar of Crescent Enterprises; Gabe Dalporto of Udacity; and Lazzat Ramazanova of the National Commission on Women’s Affairs, Family and Demographic Policy of Kazakhstan.

Leaders from business and government are invited to join the key initiatives advanced at the Jobs Reset Summit 2021, namely the Reskilling Revolution, SkillsLink, the Partnership for New Work Standards, Partnering for Racial Justice in Business and the Closing the Gender Gap. Deloitte’s WorldClass initiative became the latest company-led initiative to join the Reskilling Revolution Business Alliance. WorldClass and the Forum encourage submission of innovative and scalable educational solutions on the UpLink platform.

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How to Make Your Hospitality Business More Sustainable

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Climate change and its impact on the world has been a major news story for decades, but it’s only in recent years that awareness has been pushed to the fore. This is thanks to the actions of activists such as Greta Thunberg and Sir David Attenborough.

However, it’s also because 2020 was the joint hottest year on record, tying with 2016 – although, unlike 2016, there was no El Nino event last year to contribute to these temperatures.  

While there is pressure on companies to play their part and think more sustainably, there are things that smaller businesses can do too. As someone who runs a hospitality business, you can make operations more environmentally aware. If you want to think green, here are some ideas to help. 

Consider the materials

How much paper does your business use? There’s a real trend for cardboard menus and paper flyers showcasing the latest dining deals. Hotel rooms are filled with directories and leaflets, too – and these need replacing when they get tatty.

To resolve the issue, try switching to digital. Create online menus that diners can access, have a screen detailing the latest meal deals and specials, and introduce tablets to bedrooms in your hotel. If you’re reluctant to include tablets, try creating a directory on the TV where guests can browse the services your hotel offer, from breakfast serving times to the food on offer.

Rethink utilities

How much electricity does your business use a day? How much water is wasted?

Try looking at introducing motion sensitive lighting to avoid empty rooms being lit. Also, while it can be tricky to encourage guests to think about the water they use, you can get your staff to set an example by switching off taps when not in use. Even small changes can both save energy and money.

Manage waste

Hospitality businesses see a lot of waste, especially hotels. There’s paper waste, bottles, and food waste to consider, among other things.

Having a robust recycling system in place can help to keep your business sustainable. Introduce recycling bins in guest bedrooms and have these in offices too to encourage best practice.

Additionally, separate food waste bins for your restaurant are an essential part of waste management. By keeping food waste separate, it can be easily removed from the premises.

As with any waste management, there are risks here. Staff could cut themselves on glass or encounter other injuries, so think about how to keep your team safe while they do their job. Arm protection and overalls, for instance, can be useful.

Look at the décor

As well as the day-to-day operations in your business, it’s worth thinking about the materials used in the design and décor. Where possible, try to source reclaimed furniture and trawl the vintage and flea markets for beautiful pieces that could work well in your hotel foyer or guest rooms.

By taking the time to reassess the way your business runs, you could find that you’re lowering your carbon footprint and becoming more sustainable.

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Uzbekistan Continues to Modernize its Tax Administration System

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 The World Bank’s Board of Executive Directors approved today the Tax Administration Reform Project in Uzbekistan, which is designed to improve the operational efficiency and effectiveness of the State Tax Committee (STC) and deliver better services to local taxpayers.

The project will be supported by a $60 million concessional credit from the International Development Association (IDA), with financing provided to the Government at a very low-interest rate and a repayment period of 30 years.

“The Government of Uzbekistan has prioritized reforms in the tax administration system to create a better business and investment environment. The new project will help the STC improve its work in the interest of taxpayers,” said Marco Mantovanelli, World Bank Country Manager for Uzbekistan. “In particular, the project will allow to broaden the tax base, leading to a reduction in the informal sector of the economy, which is estimated to be around 50% of GDP; to increase tax revenues; and to help firms and companies create new jobs, benefiting from a more efficient tax administration system.”

The project includes three key components directed at improving the STC’s operational, institutional, technological and human resource capacities, and promoting voluntary compliance across Uzbekistan.

Component 1 will invest in automating the STC’s core tax administration business processes. This includes developing the STC’s new tax management information system to reduce paperwork and simplify the process of paying taxes by businesses and individuals countrywide; upgrading hardware and technological infrastructure; creating a new data center for the STC; and improving governance and the planning capacity of the STC’s IT department.

Component 2 will assist with designing and implementing measures to reduce the informal sector of the economy. This includes improving the STC’s enforcement capabilities to detect and discourage tax evasion; encouraging businesses to stay out of the shadows, including through the use of non-tax incentives; and developing cooperative relationships with the private sector, including through designing new or simplified tax policies and procedures and building partnerships to change taxpayers’ behavior.

Component 3 aims to strengthen the STC’s human resource and institutional capacities to attract, develop, and retain skilled and knowledgeable tax officials. This includes improving STC’s human resources management policies and building capacity through the continuous professional development of tax officials. 

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Top 5 Examples of Best Nonprofit Grant Proposals

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small-business-economy

Introduction

Compiling a grant proposal is a complicated task. Nonprofits have to conduct ample amounts of research, create multiple drafts and compile everything to fit the criteria of the grant foundation. The odds of getting your proposal accepted are already stacked against you and the best way to ensure success is by staying prepared. One way you can make your grant proposal air-tight is by reviewing successful grant proposals. You can add points from previously successful documents to strengthen your case. 

Preparation is key

Drafting a grant proposal can be a lengthy process. It is a good idea to start gathering data and reviewing it beforehand. Reviewing successful grant proposals can help you get new ideas and perhaps, inspiration even. You can find a list of effective examples on the internet and we have compiled a few here to make things easy for you.

5 Examples of effective grant proposals

To ease the understanding, the examples are divided as per the sectors for which nonprofits often work.

Education

Education is a key foundation for society and if you are looking to seek a grant to support an educational initiative, this particular example might be conveniently helpful.

Salem Education Foundation: This particular grant was submitted by a school that sought to receive funding for enriched learning opportunities that lay beyond the scope of a conventional classroom. This particular grant proposal was written for history students of the school.

Youth

Children can be the most at-risk group of society and there are a multitude of nonprofits that aim to help them. Consequently, there are a huge number of grants that aim to help children fulfill their potential and lead happy lives. The following example is how a grant proposal should look like when the focus of their goal is improving the lives of children.

William T. Grant Foundation: This grant is given to those groups that actively conduct research that is solely focused on improving the lives of young people in the United States. The foundation often publishes accepted grant proposals to help guide those looking to apply. Review their proposals for a better idea on how to craft yours.

Individual and family support

If your nonprofit is actively seeking to serve the disadvantaged population of society, then you will need to submit a proposal that highlights their plight. The following proposal is an example that will help you decide the inclusions for your proposal.

Kennett Area Senior Center: This particular grant was submitted by the Kennett Area Senior Center to the community grant foundation. The grant proposal was a request for funds to provide assistance and necessary services for senior citizens.

Arts

If your nonprofit is aiming to raise funds for an arts program or a project, the following example demonstrates what your grant proposal should look like. Upon review you will be clear on what to include in your documentation:

University of Minnesota’s Imagine Fund: Take a look at various successful proposals that were submitted to the Imagine Fund program. This program is known for supporting arts-related projects.

Science

Whether it is scientific research, conservation, or any form of scientific endeavor, the following proposals can provide you with ideas for your grant proposal. You can review them and figure out what to include and how you can solidify the strength of your proposal.

NIAID: The National Allergy and Infectious Diseases grants various funds to institutes and nonprofits looking to drive advancement in the field of science and scientific research. You can peruse through various types of successful grants and figure out what made each one stand out.

Final thoughts

These examples are just some of many grant proposals that have achieved success. By studying them and reviewing the literature, your nonprofit can take away ideas and insights which can be useful in drafting your proposal.

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