Vetas de Talento 4.0 (Sources of Talent)

Vetas de Talento organizes relevant training programs, with state-of-the-art technology, linking them to real jobs to decrease dropout and increase employability. It brings together employers, training organizations and funding, changing the lives of vulnerable youth. We want to extend our impact to the Industry 4.0 and the Pacific Alliance region.

Latin America has structural unemployment problems. Low acquisition of basic skills in primary and secondary education, youth unemployment, high rates of “NEET” (youth not in employment, education or training) and low skills/informal jobs make it difficult for young people to access quality work paths.

Moreover, the workplace is rapidly moving towards digitalized processes, making it even more difficult for low-skilled young people to enter the labor market. Today a high percentage of companies declare not finding people with the skills that meet their requirements.

Connecting job demands with vulnerable youth with the required skills is our challenge.

Because we have faced the problem. Relevant training, with state-of-the-art learning technologies, linked to real employment opportunities, allow for technical training and transition education-to-work in the shortest time possible, dramatically reducing dropout and increasing the employability rates of the graduates.

The Vetas de Talento program has been operating since 2012, working in Chile with the Mining, ICT and Non-Conventional Renewable Energies industries and changing the lives of more than 3,000 young people, achieving a drop of less than 15% and an employability of its graduates of 71%.

Youth: Accessing formal, quality jobs for the Industry 4.0 with opportunities for future growth and development. We aim to attract, select, train and place 1,000 vulnerable young people within a year through the Vetas de Talento 4.0 program.

Companies: Accessing human capital with the skills required to integrate into a career path in emerging technologies. We seek to work with industries that are digitizing their processes, such as Agroindustry, Energy, Mining, Sanitary, Logistics and Manufacturing. 

Government: Increasing the social investment impact, achieving increased income and employability of its vulnerable population. 

Register in CRM (SalesForce) - 1,000 young people aged between 18-29 trained and placed

Agreements signed with the Confederation of Production and Trade (CPC) and its associated trade unions - Integrate Agroindustry, Energy, Mining, Sanitary, Logistics and Manufacturing industries

Registration in CRM. Registration in Vocational Training Organizations (OTIC, Chile), agreements signed with Training Organizations of each country - Leverage public funds for an amount of MMUSD 2.5 per year to train 1000 young vulnerable people yearly

There is no other initiative in Latin America that articulates private and public sectors and training offer, under sectorial standards of relevance and quality, which also places young people into relevant employment.

Using existing state-of-the-art technologies in our management and training processes, allowing high coverage and low operating costs is just the start, we go beyond the use of technologies as a mean by providing them with skills for the future digitalized workforce.

• Attraction: Website, Facebook and Google Ads
• Management: SalesForce
• Training: simulators, test benches, immersive technology, gamification platforms, etc
• Placement: job web portals

Vetas de Talento provides a one-stop-shop adapted to vulnerable youth to acquire the needed skills for the future workforce, and be placed in relevant jobs, increasing employability, income and future prospects.

It combines an innovative process, state-of-the-art training technologies, existing social media and web platforms for the acquisition of digital skills and employment. 

• Training: simulations through augmented reality, gamification, test benches and industrial plants to scale
• Placement: web placement portal exclusive to the Vetas de Talento programs, increasing the hiring opportunities for these young graduates while ensuring employers these profiles were trained in relevant and quality programs

Latin America has high penetration rates for Facebook and vulnerable youth are no exception. The most effective attraction campaigns have been made on this platform. Today we have 70,000 young people interested in training under Vetas de Talento program. With regards to applying, selecting and hiring this web platform plays a central role, making the program accessible and tailored to young people. 

From the application to the hiring phases including the training program, all costs are covered by private or public contribution, allowing young vulnerable people to acquire digital skills and access labor opportunities for free.

Vetas de Talento is currently a financially self-sustaining initiative. To grow and scale up the program to digital skills for new productive sectors, additional support from the private sector and/or public competitive funds will be needed. With these financial resources, the program will identify demand, develop labor and training standards and develop a quality vocational training offer for vulnerable youth in the Pacific Alliance region.

Once the sectorial basis is set, the operations are covered by vocational training suppliers. These institutions pay Vetas de Talento for its services in attraction and placement of young people, covering the current expenditure of the initiative.

The training of young people is financed by different State labor training mechanisms, either through direct contributions, special funds or training tax exemption. This financing will directly pay the training to the Vocational Training Organizations.

Coordination failure of the productive sectors: This solution is based on the ability to coordinate a group of productive sectors around a common need: the development of technical skills. To mitigate this risk we have the support of Chile’s Confederation of Production and Trade. 

Finance shortage of public funds for vocational training: Developing skills that impact employability and income requires training courses of more than 300 hours incorporating the development of relevant employability skills. As these courses are of high cost, the public funds might not fully cover them.

https://fch.cl/en/innovum/

We seek to expand our impact:

• To more productive sectors: identifying the requirements of technical human capital to accompany processes of digitization of industries (Energy, Mining, Agroindustry, Sanitary, Logistics and Manufacturing). We seek to identify specific demand, labor standards and training, and to develop the skills of vocational training providers. 
• To the Pacific Alliance countries: we intend to extend the development model first to Peru and Colombia, which are working on the development of their National Qualifications Frameworks and where this initiative would serve to have early achievements in formalizing and improving the quality of youth employment.

Our current partners are the Mining Council of Chile, the Confederation of Production and Trade, JP Morgan Chase Foundation, Peru National Society of Mining, Oil and Energy (SNMPE), regional Education and Labor Ministries network.

Do not apply