Professionals Objective 3: Investment

Government, agencies and the European Commission all fund large skills development programmes in the UK in areas of specific need. But, without an over-arching UK-wide strategy, funding tends to be tactical and short-term. There is a pressing need to increase investments in e-skills, and to do so against a strategic view of requirements. This means ensuring key parties are clear on skills priorities such that funding can be aligned to them, and raising awareness of the benefits of investment in training. Particular attention needs to be given to the challenges facing small, fast growing businesses.

Investment that is directed at meeting the strategic needs of UK businesses for e-skills	Programmes: 3.1. Skills plans: Produce annual skills plans for the development of the professional workforce, reflecting national and regional needs, and communicate them such that government and education and training bodies 10 are clear on e-skills priorities. 3.2. Benefit promotion: Undertake an active programme to brief key influencers and funders on the strategic needs of industry in relation to e-skills, and promote to employers the benefit of investment in training including implementation of Investors in People. 3.3. Publicity: Seek out and publicise in national media and other communication channels examples of government and employer funding being leveraged successfully, in line with government and industry priorities, including high-profile 'quick-wins'. 3.4. Funding training: Instigate an industry-wide debate for collective, innovative ways to fund training, such as transferable training loans or employer skills development funds, for the purposes of better retention of staff and an improved UK skills base.
Increased investment, effectively targeted

"Employers invest around £1 billion p.a. in IT training in the UK. But, to really capitalise at a UK level on these large employer investments, carefully targeted government support against a nationally-agreed strategic plan is invaluable." Michael Copestake MD, Informatics CTEC

"Corporate training has become a business imperative, migrating from an expense to an investment'. Motorola calculates that every $1it spends on training translates to $30 in productivity gains within three years." The Book of Knowledge Merrill Lynch

¹⁰ Including the Learning and Skills Council and Regional Development Agencies in England, Council for Education and Training in Wales, the Enterprise Network in Scotland, Future Skills Scotland, the Training and Employment Agency in Northern Ireland, schools, colleges, Higher Education institutions and training providers.