The centrepiece of Wayne Swan’s fourth budget was clearly the $3 billion skills package that is aimed to improve training levels, support apprentices and improve workforce participation.
The big feature of the package is the $558 million National Workforce Development Fund, which will let business – even small ones – bid for funding towards the cost of training initiatives.
Companies will need to chip in too, but there is a sliding scale of funding that favours the little end of town, with the Government to contribute two-thirds of the cost of training for a small business, compared to one third for a large business.
We’re still to learn all the details of how the fund will work, but why not sit down and think about all the training you’d like to do with your current staff or prospective staff.
What training could you do to turn young staff into long-term stars of the business? How could you add to the skills set of older staff to make them more productive? Where could an apprentice or trainee fit into your business?
Even if you can’t get Government money from the new fund, a training wish list is a good thing to start building.
Get it done – today!