New research has revealed that virtual work experience (VWEX) programmes in Britain have generated more than £98 million in social value over the past three years. The findings, by careers platform Springpod, form part of a white paper that introduces a framework for measuring the Social Return on Investment (SROI) of these programmes.
Developed in partnership with GIST Impact, the framework enables businesses to assign a financial value to the benefits of work experience, factoring in reduced welfare dependency and increased economic productivity. This approach provides organisations with a clearer rationale for embedding early career programmes within HR and corporate social responsibility (CSR) strategies.
Over 1 million students have enrolled in Springpod’s VWEX programmes, which have been developed in collaboration with employers such as Amazon Future Engineer, Fujitsu and The Met Office. Participants report a 59% increase in job readiness, with 45% saying their career confidence has improved after completing a VWEX programme. Many students feel more aware of potential career paths and more confident in securing a job.
Top Employers Investing in Virtual Work Experience
Several major employers, including Barclays, Direct Line Group and Jaguar Land Rover, have adopted virtual work experience to build talent pipelines, reduce recruitment costs and engage a diverse pool of skilled candidates. The new SROI framework quantifies the impact of these initiatives.
Barclays has generated over £6 million in social impact, while Airbus has seen a return of £63.20 in social value for every pound invested in its VWEX programme. This financial insight also reinforces the role of virtual work experience in workforce development and long-term employability.
Justin Cooke, Chairman of Springpod, states that VWEX has long been recognised for its ability to transform individual lives by offering young people exposure to real-world projects and workplace skills. He highlights that the new framework provides measurable evidence of its wider social impact, demonstrating how structured career education contributes to career clarity, employability and social mobility.
Addressing Barriers to Employment for Young People
The release of the white paper coincides with a rise in the number of 16-24-year-olds in the UK who are not in education, employment or training (NEET), which now approaches 1 million. The report indicates that young people without work experience are 86% more likely to struggle to secure employment. However, only 36% of UK students gain in-person work experience before leaving education. The research suggests that participation in virtual work experience correlates with a 10% lower likelihood of students becoming NEET.
Cooke emphasises the importance of universal access to work experience in addressing youth unemployment. He notes that geography, resources and time limit the availability of in-person placements, while factors such as socioeconomic background further affect access. Students from low-income families, rural communities, underrepresented minority groups and those with disabilities often face significant barriers.
