Hello Rafael, It is great to see your entry in the competition. The work that you're doing with Genesys is really exciting. Its great to hear that you are working on expansion to some other locations so that you can have an even greater impact. It seems as though you have a developed a great model for sustainability. You mention that "Houston in currently 83 percent self-sustained from th earned income received from the corporations in which students work." What exactly does this mean? Does the pay that the students receive go back into Genyses? Or, do the students keep what they earn?
Thanks Rafael!
Dana Frasz
Changemakers
Students work for Genesys Works who in turn places them to perform services at corporations. Just like any other service provider, Genesys Works bills the companies on an hourly basis. Because the students are trained in both technical as well as professional skills, they provide a service that the companies value and are willing to pay for. The students are paid a fair wage (more than what their non-Genesys friends are making) and the additional margin goes to pay for program support and training. The companies receive a professional-level service that they value, get charged for, and therefore challenge the students with real tasks that in turn help the students grow. Not only that, but they actually get to save money compared to the cost of the same service by a for-profit. Given that the students add value, increase morale, and companies save money, our clients stay engaged with us year after year, requesting more students every time.
This model is the basis for our sustainability, both financial and programmatic. Being able to count on companies to pay for the services and feel like they are benefiting both themselves as well as the students secures our steady growth and provides a financial stream that can be counted on.
Because the training and support required for our students to truly "brake barriers" is high, our earned income doesn't pay for 100% of our expenses, but 83% is still very high.
Hello Rafael, It is great to see your entry in the competition. The work that you're doing with Genesys is really exciting. Its great to hear that you are working on expansion to some other locations so that you can have an even greater impact. It seems as though you have a developed a great model for sustainability. You mention that "Houston in currently 83 percent self-sustained from th earned income received from the corporations in which students work." What exactly does this mean? Does the pay that the students receive go back into Genyses? Or, do the students keep what they earn?
Thanks Rafael!
Dana Frasz
Changemakers
Students work for Genesys Works who in turn places them to perform services at corporations. Just like any other service provider, Genesys Works bills the companies on an hourly basis. Because the students are trained in both technical as well as professional skills, they provide a service that the companies value and are willing to pay for. The students are paid a fair wage (more than what their non-Genesys friends are making) and the additional margin goes to pay for program support and training. The companies receive a professional-level service that they value, get charged for, and therefore challenge the students with real tasks that in turn help the students grow. Not only that, but they actually get to save money compared to the cost of the same service by a for-profit. Given that the students add value, increase morale, and companies save money, our clients stay engaged with us year after year, requesting more students every time.
This model is the basis for our sustainability, both financial and programmatic. Being able to count on companies to pay for the services and feel like they are benefiting both themselves as well as the students secures our steady growth and provides a financial stream that can be counted on.
Because the training and support required for our students to truly "brake barriers" is high, our earned income doesn't pay for 100% of our expenses, but 83% is still very high.