The Co-op has announced the launch of a new £15 million fund to improve employment opportunities for under-represented groups.
The pioneering nationwide initiative will create apprenticeships for candidates from BAME communities and low socio-economic groups by channelling money from big businesses to smaller companies.
The retailer has pledged an initial £500,000 to kick start the fund, and called on other employers to step in to create the £15m fund.
“At the Co-op we have ambitious plans to become more diverse and inclusive and create greater social mobility. We know we cannot do that alone and today I am calling on other employers to join us in this important initiative and on the journey to becoming truly inclusive,” commented Steve Murrells, Co-op group chief executive.
Under the initiative, businesses across England will be able to pledge unspent money from their apprenticeship levy. Other employers seeking to recruit apprentices from under-represented groups will register and be matched to businesses with spare money.
The retailer said the initiative, designed with Business in the Community (BITC), is likely to be particularly attractive to smaller businesses and organisations that typically find creating apprenticeships more difficult. The first transfers under the fund are expected to be available in April and will be open to companies and organisations in any sector.
The Co-op said it is also working with the BITC Race Advisory Board to ensure BAME candidates who secure roles through the scheme be given individual support that will include mentoring.
“With 33 per cent of black employees feeling their ethnicity will pose a barrier to their next career move, this initiative will be a great step forward to addressing inequalities that exist today,” commented Sandra Kerr, race director at BITC.
Welcoming the announcement, IGD, grocery industry’s training and research charity, said the move to close the opportunity gap will drive the industry forwards.
“Our industry, which is one of the UK’s largest private sector employers, has a huge amount of energy and enthusiasm for people development and is committed to tackling youth unemployment,” commented Fiona Miller, director of people programmes at IGD.
“At IGD we are harnessing that enthusiasm to help equip young people with the capability and potential to thrive in the workplace. In this way we can build employability and workplace skills to create better opportunities for young people and drive productivity.”
Co-op has last year adopted ambitious new diversity targets which include a commitment to double the representation of BAME leaders and managers across the business by the end of 2022.
