Dignified Jobs Collaborative: Creating Fair Pay and Opportunity in India

A new initiative, the Dignified Jobs Collaborative, aims to increase investment in companies creating dignified jobs for people living in extreme poverty in developing markets, starting in India. This collaborative is a group of impact organizations focused on creating positive social and environmental change.

• The collaborative is led by Upaya Social Ventures, a non-profit organization that invests in early-stage businesses in India and other developing markets.
• The group aims to bridge the conversation about quality jobs in developed countries with the reality of informal jobs in developing countries like India, where many people work in informal sectors and often lack access to fair pay, benefits, or safety protections.
• Their goal is to attract more investment into what they call "missing middle companies," those businesses that are too large for microfinance and too small for traditional bank financing, but are significant job creators.

Defining Dignified Jobs in India

The collaborative defines dignified jobs by five criteria:

• Inclusive access, meaning hiring women and other underrepresented groups
• Fair pay that aligns with global minimum wage levels
• Benefits, such as health insurance or savings plans
• Safe working conditions and training programs
• Opportunities for skills building and career growth

The Dignified Jobs Collaborative is utilizing data from surveys of jobholders in Upaya's portfolio companies to create a benchmark for measuring the impact of dignified jobs in India. This data will help to create a framework for investors to measure the impact of their investments on job quality.

Upaya Social Ventures: Leading the Way in India

Upaya Social Ventures has been investing in companies in India and other developing markets since 2011, focusing on creating jobs for those living in extreme poverty. Their investment approach is based on the understanding that a loan alone is not enough for people who are vulnerable and need stable jobs with fair pay.

• Upaya has invested $1.3 million in 34 companies, with a focus on those creating jobs in India, providing opportunity and economic empowerment.
• One of their successful investments is Tamul Plates, an Indian company that makes disposable plates and bowls from palm leaves. Tamul has created over 3,000 jobs, showcasing the potential of impact investing in India.

Impact Investing in India: A New Model for Combating Poverty

The Dignified Jobs Collaborative represents a new model for impact investing in India, a region grappling with high rates of poverty. By focusing on job creation, fair pay, and inclusive access, the initiative aims to address the root causes of poverty and promote sustainable development.

• The collaborative's work is based on the belief that providing people with dignified jobs can have a significant positive impact on their lives and communities, improving their living standards and fostering economic growth.
• They are working to create a more equitable workforce in India, promoting the inclusion of women and other marginalized groups in job opportunities. This is aligned with the United Nations' Sustainable Development Goals (SDGs) and their focus on gender equality and decent work.

The Future of Work in India: A Path Towards Dignity and Inclusion

The Dignified Jobs Collaborative's work is contributing to a broader conversation about the future of work in India, a country that is experiencing rapid economic growth. The collaborative is advocating for a work environment that is not only economically productive but also socially and environmentally sustainable.

• Their efforts are helping to shape the landscape of impact investing in India and other emerging markets, encouraging investors to consider the social and environmental impacts of their investments.
• Through their work, they are raising awareness of the importance of creating dignified jobs in India and other developing countries, highlighting the need for a fairer and more inclusive global economy.

Measuring Impact: Creating a Framework for Success

The Dignified Jobs Collaborative is focused on measuring the impact of their work, utilizing data from surveys and portfolio companies to create a framework for assessing the quality of jobs and their contributions to poverty reduction. This framework will be used to guide investors and to track the progress of the collaborative's efforts to create dignified jobs in India.

• The collaborative is advocating for the inclusion of job quality as a key metric for impact investing, moving beyond simply counting the number of jobs created to measure the positive impact on the lives of workers and their communities.
• The collaborative's work is not only focused on creating jobs but also on ensuring that those jobs are good jobs, offering fair pay, benefits, and opportunities for growth, contributing to a more equitable and sustainable future for India and other developing markets.