2004 Crown Investments Corporation of Saskatchewan Annual Report

Policy and ProgramsCommitment to Youth and Aboriginal PeopleIn 2003, Premier Lorne Calvert announced that CIC, on behalf of the Crown sector, would invest $20 million overthe next five years to hire more young and aboriginal people in the CIC Crown corporations. There are two maingoals:mmTo renew the workforce in the Crown sector, where it is estimated that more than half of the currentCrown employees (about 5,000 people) will retire by 2017; andTo offer young and aboriginal people a bright future in Saskatchewan by providing them withopportunities to stay in the province to pursue their careers and raise their families.In June 2004, CIC announced the first programunder this commitment. CIC will provide up to $2million over five years for bursaries for aboriginalstudents enrolled in undergraduate programs atFirst Nations University of Canada, or the Universityof Regina or its federated colleges.To qualify, students must be Status Indian, nonstatusIndian, Metis or Inuit, and they mustdemonstrate financial need. Each bursary recipientreceives $2,500 per semester, or $5,000 peracademic year. Bursaries were awarded to 34students in 2004. CIC expects to assist up to 165students over the five-year life of the program.The Gradworks internship program was the secondprogram announced under this commitment. Theprogram was formally launched in February 2005,after operating on a trial basis in 2004. Gradworksprovides recent post-secondary graduates withinternships in the CIC Crown corporations. Theprogram is intended for those who have little or nowork experience. The purpose is twofold: to provideeducated young people with job opportunitiesin Saskatchewan, and to give them valuable workexperience that may lead to permanent jobs in theCrowns, and will make them attractive candidatesfor other employers.Each internship is for 12 months. CIC pays theinterns’ gross salary of $2,300 per month, whichthe Crowns may top up at their expense. Internshipopportunities are posted on the Gradworks website, where potential interns register and applyfor the jobs. CIC and its Crowns hired 15 interns in2004. The goal is to hire 85 more in 2005, and 250altogether over the five-year life ofthe program.Gradworks will operate as a nonprofitcorporation which is asubsidiary of CIC, and it will getits annual funding from CIC. Thelong-term goal is for governmentdepartments and the privatesector to join Gradworks. For moreinformation on Gradworks, go towww.gradworks.caC I C22