Seren Skills Network delves into the world of possible change that may come from the Labour Party in-terms of skills and the Levy.
Irrespective of government, the strategic steps suggested for training providers should be reviewed and built on.
The United Kingdom is poised for a major transformation in workforce development with the possible implementation of the Growth and Skills Levy. With the goal of improving the current Apprenticeship Levy, this new approach is a key component of the Labour Party’s comprehensive strategy to strengthen the country’s skills landscape and boost economic productivity. With the transformed levy, businesses will have greater flexibility in funding training. This includes not only apprenticeships, but also a diverse range of skill-enhancing training that are highly relevant to meet the demands of today’s world.
Exploring the Growth and Skills Levy
According to the proposed system, businesses will have the flexibility to allocate a maximum of 50% of their levy funds towards non-apprenticeship training programmes. This significant change has been implemented to cater to the changing demands of the UK economy, with a focus on areas such as digital skills, green technologies, and sectors that require crucial support like social care and childcare. It is in line with national objectives, including the shift towards a net-zero economy, with the goal of making the UK workforce more adaptable and prepared for future challenges. It does beg a question regarding how SME’s will be supported though, much more information and detail is needed here from the Labour Party.
Strategic Steps for Training Providers
For training providers, the restructuring of the levy brings with it a range of possibilities and obstacles. Here are some key steps that Seren Skills Network believes training providers can take to not only stay relevant but also establish themselves as leaders in the training market:
- It is important for providers to expand their training portfolios to include the new priority areas identified under the Growth and Skills Levy. Expanding offerings to include cutting-edge courses in digital and green technologies can help providers attract a broader client base and meet emerging market demands.
- Developing strong industry connections is essential for success. By leveraging these connections, training providers can customise their courses to meet the unique requirements of businesses. This not only boosts the practicality and appeal of their programmes, but also ensures they are aligned with industry demands.
- Improving Training Quality and Outcomes: In a competitive market, the quality of training can make a provider stand out. Providers should prioritise delivering measurable outcomes and showcasing the concrete benefits of their training programmes in improving workforce skills and productivity.
- Embracing technology and innovation is crucial for delivering flexible and accessible training. Providers should seriously consider embracing innovative educational technologies and platforms that enable seamless online learning and virtual classrooms, with the flavour of blended learning.
- Stay informed about policy changes and actively participate in discussions about the Growth and Skills Levy. This will help training providers adapt quickly to changes and have a say in shaping policies that benefit the training sector.
- With a focus on marketing and outreach, it’s important to develop effective communication strategies that showcase the advantages and adaptability of the new levy system. This will ultimately attract new clients to your business. Training providers should prioritise highlighting the value of their training in addressing essential skill shortages and driving business expansion.
In summary
Embracing a more flexible Growth and Skills Levy could be argued to be a proactive measure to tackle the skill needs of the UK economy. To effectively navigate these changes, training providers must employ a combination of strategic planning, continuous improvement, and staying up-to-date with industry trends.
Those who can strategically align their offerings with the national skills agenda and effectively demonstrate the impact of their training programmes will not only survive but flourish in this evolving educational landscape. With the UK’s upcoming changes, the importance of training providers in shaping a skilled and competitive workforce cannot be overstated.
Please reach out to us at Seren Skills Network to see how we can develop your offering and focus for the future.