This Third Impact Report makes us feel we’re starting to hit our stride in how we impact people’s lives in our Philippine delivery center. We’re making progress in the way we measure our social impact as well the quality of impact work we’ve been doing.
This report has seen some changes in the way we measure our impact. We are being more specific about our questions in relation to who and what qualifies as the dependents our Agents are supporting. It’s interesting to note that this increased rigor has not changed the result — Agents are still reporting that they’re supporting 6 dependents on average.
This conclusion supports our general theory — that a middle-class job in the developing world is an “anchor” job for families in the developing world and it’s a core driver of poverty reduction. Watch my Medium blog for a deeper dive on this topic in the coming weeks.
In this report, we also begin to measure how many Agents are in the “emerging middle class” — those that are one position or one raise away from being middle-class earners. This measurement posted some encouraging results, showing 35% of all agents in this category — poised to achieve a stable economic life.
A major accomplishment in the third quarter of 2018 is the launching of two major impact programs that will be with us for a long time to come.
First, we launched our “English Proficiency Up-Leveling Program,” where Agents are in free, intensive, 2-hour-daily English classes with our English trainers for a month. This program was very successful in May — with a 65% completion rate, and of those completing: 90% Level Up rate, with 15% progressing 2 levels in our English Proficiency program.
Second, we’re also very proud that we’ve started our own interest-free, micro-lending program for small-business financing, and the purchase of private transportation. We’ve made our first 2 loans, and expect to make 4 more in the next four weeks. This program speaks directly to our vision, of creating capital owners from wage earners.
In the coming quarters, we’ll expect to see our core metrics — number of people impacted and percentage of people in the middle class — grow positively as our business development team matures and more, better work comes into our doors, and into the lives of our Agents, as they improve their economic and social welfare with RTS.