Untapped funding opportunities are available in the training space
Skills training for business has received strong funding from government, but despite this, many companies have not tapped into the opportunities it provides and don't really know how.
Is it for me? 'Thinking right' about training
Skills training can have many benefits for your company. Get a renewed perspective on the effectiveness of offering training programs to all company employees.
We asked John Roberts from LMA, 'who should consider training?' They have trained over 120,000 participants, so we wanted to know how to 'think right' about training. Here is their response...
- Organisations that recognise the key to their business is their people have greater competitive advantage.
- A winning organisation or an 'employer of choice' will develop leaders at all levels, not just at the top of the tree. Meeting this objective is essential for an organisation's sustainability and growth.
- High quality and effective training will bring about permanent and positive change in attitudes and behaviours that result in increased performance and productivity for the individual and improved profitability for their organisation.
- If a business is serious about developing their people and gaining a market advantage, the good news is there are hundreds of millions of dollars available for government funded courses and training in Australia
- The greatest benefit of tapping into the various pools of available government funding is that an organisation can subsidise its training plans, thereby developing more people with a smaller financial investment.
- Funding for training is available from: Federal, State and Territory Governments. Generally the application process for funding is straight forward with minimal effort required from the organisation.
Funding for business training
Applying for training and professional development grant funding is straightforward when you know how.
Employers can tap into different 'buckets' of funding to subsidise their workforce training. In general terms, funding is administered either by the State or Federal Governments.
Under State Government funding, each state has its own scheme. For example, in Victoria, the Victorian Training Guarantee is a State Government initiative to provide subsidised training to eligible participants. The Victorian Training Guarantee makes vocational education and training more accessible to people who do not hold a post-school qualification or want to gain a higher level qualification than they already hold.
Federal funding is available through various channels including:
- The Australian Apprenticeship Scheme: employers can attract funding for both new and existing employees on programs such as a Diploma of Management.
- The National Workforce Development Fund (NWDF): $700 million over five years to industry to support training and workforce development in areas of current and future skills need. Organisations can identify their current and future business and workforce development needs and apply for funding to support the training of existing workers and new workers in areas of shortage.
With each funding opportunity there is an eligibility criterion the employer or employee must meet. It's important to identify which funding opportunity will best serve your organisation's current skills development needs and desired training outcomes. Once you've worked out which funding program to apply for, the application process is usually straight forward.
Case Study: Cut & Fill - supported by government
Cut & Fill is a government funded, skills training success story.
Since its incorporation in 1978, Cut & Fill has conscientiously grown from its beginnings in management and construction of road, pavement and allied projects to a fully diversified civil engineering business. Their continued practise of building and promoting an in-house trained and multi-skilled employee base (minimising the use of sub-contracting) has enabled the business to develop a total package of Contract Management. The business values the importance of developing their people at all levels and has recently enrolled five of their site supervisors into Leadership Management Australia's Challenge of Leadership (Certificate IV in Frontline Management). This course focuses on developing highly effective leadership abilities required for continuous improvement, project management, change management, innovation and building high performance teams.
Two of the five participants are three quarters of the way through their program and Sophie Brown (Human Resources Manager) comments: "The LMA program has been beneficial for our site supervisors in that the course allows them to firstly identify their own challenges or areas for growth and turn these into specific course goals with measurements. During the program they use tools from the course, their own ideas or ideas from workshop discussions to begin addressing and closing these gaps."
Cut & Fill with the assistance of LMA tapped into funding provided by the Victorian Training Guarantee (State Government). This funding has subsidised approximately 40% of the total course costs.