Victoria invests in vocational skills
Victoria’s recent state budget highlighted the importance of vocational skills in the workplace. The state is investing $1.2 billion a year towards funding vocational education and training that helps workers adapt to changes in the economy.
Minister for Higher Education and Skills Nick Wakeling said the funding towards training, which is a 50 per cent increase in funding from last year’s budget, will develop people’s skills for future opportunities.
“The Coalition Government is investing in skills, education and training with a $1.2 billion commitment per year to Vocational Education and Training. This significant investment provides support and access to training for people to develop the skills needed to take advantage of new opportunities emerging in the economy,” Mr Wakeling explained.
“The 2014-15 Victorian State Budget is centred around new major job-creating infrastructure and the Victorian Coalition Government is committed to investing in the future and helping Victorians be skill-ready to take advantage of job opportunities.”
The training can benefit employers as well as workforce development by increasing productivity and employee flexibility. Employers can participate in the market-driven training system if they are a Registered Training Organisation. This allows the company to customise training and delivery and potentially qualify for government subsidies.
Additional training has also been found to benefit employees. Research conducted by London Economics for the UK Department for Business, Innovation and Skills suggested that completing a qualification positively affected individuals’ long-term earning and employment outcomes, compared to people who did not complete a qualification.
During the recruitment phase it is important to not only look for the skills that match the job description, but the skills they have that could be utilised in your workplace. HRIS software can provide training and development to your employees to complement their vocational skills.