Logistics Guild mulling over pay-as-you-go training move MEMBERS OF THE
Page 38
If you've noticed an error in this article please click here to report it so we can fix it.
fledgling Logistics Guild could be given help to pay for industry training in small increments as part of the Guild's planned credit union.
Skills for Logistics (Sit), which launched the Logistics Guild last year, is in the advanced stages of developing a credit union. It is examining the possibility that the credit union could help Guild members by letting them pay for training loans in small instalments, which could be deducted at source from their wages.
Sit chief executive Mick Jackson said a driver taking out a loan in this way would take it with him or her to their new job if they left their original employer. This would make investing in training easier for drivers who would not have to pay for it upfront.
It would also encourage employers to invest more in training by reducing the risk of investing in training staff, only to lose them to rivals.
Jackson also suggested the move would create incentives to encourage matched funded training schemes between employer and employee.
Sit hopes to have the credit union up and running in the early part of next year, "although we are in the hands of the regulator': said Jackson.
In April, the UK Commission for Employment and Skills granted two years of funding to Sit for the credit union, effectively giving it the green light. Sit is now waiting for the go-ahead from the Financial Conduct Authority, the UK's new financial regulator.