Sector Skills Councils found to provide a 20-fold return on investment
By Martin Kornacki (05-02-2010)
0 Comments 
Article Rating: 
Email to a friend | Print Version
Sector Skills Councils can achieve up to 20 times the return on investment in them, researchers have found.
A report by business advisors Baker Tilly, which sampled four out of the 25 licensed SSCs, says the findings “show the depth, reach, and significant public benefit from the SSCs’ activities”.
Energy & Utility Skills, the SSC for the gas, power, waste management and water industries, for example, was measured as having an annual impact of more than £125m, having received funding of just £5m a year.
Jim Clifford, head of charity and education advisory services at Baker Tilly, said: “The returns against input funding are striking, and rightly underpin the Alliance of SSCs’ view that SSCs are major contributors to the UK and great value for money.
“This was from analysing only a selection of the largest and highest impact projects for each SSC, so the total value contributed may be higher even than this.”
John McNamara, chief executive of the Alliance of SSCs, which acts as the collective voice of the SSCs, said that while each of the SSCs would welcome the report it also laid down a challenge to continue the good work.
“All the SSCs can take pride in what the review tells us. Any organisation that can achieve £100m or more of public gain, every year, from funding of only £5m can justifiably be proud of it,” he said.
The SSCs sampled were Cogent, the SSC for chemicals, pharmaceuticals, nuclear, oil and gas, petroleum and polymers; People 1st, representing hospitality, leisure, travel and tourism; Skills for Health, representing the health industry and Energy & Utility Skills.
A report by business advisors Baker Tilly, which sampled four out of the 25 licensed SSCs, says the findings “show the depth, reach, and significant public benefit from the SSCs’ activities”.
Energy & Utility Skills, the SSC for the gas, power, waste management and water industries, for example, was measured as having an annual impact of more than £125m, having received funding of just £5m a year.
Jim Clifford, head of charity and education advisory services at Baker Tilly, said: “The returns against input funding are striking, and rightly underpin the Alliance of SSCs’ view that SSCs are major contributors to the UK and great value for money.
“This was from analysing only a selection of the largest and highest impact projects for each SSC, so the total value contributed may be higher even than this.”
John McNamara, chief executive of the Alliance of SSCs, which acts as the collective voice of the SSCs, said that while each of the SSCs would welcome the report it also laid down a challenge to continue the good work.
“All the SSCs can take pride in what the review tells us. Any organisation that can achieve £100m or more of public gain, every year, from funding of only £5m can justifiably be proud of it,” he said.
The SSCs sampled were Cogent, the SSC for chemicals, pharmaceuticals, nuclear, oil and gas, petroleum and polymers; People 1st, representing hospitality, leisure, travel and tourism; Skills for Health, representing the health industry and Energy & Utility Skills.
Readers Comment
Be the first to comment on this news story
News Alerts
Subscribe to TJ news bulletins:
| Subscribe to our L & D RSS Feed
Related News
- Government must help employers keep skilled workers
- Young people seeking training and education leads to surprising drop in unemployment figures
- Employers, universities and government join forces to build a skilled workforce
Related Discussion Topics
Latest News
- Health sector workforce skills need to be utilised more effectively, report finds
- Millionth worker completes training through Train to Gain
- Last week to apply for cash in return for help in NEET survey
- On demand software training company bought by compliance specialist
- ‘Inpats’ increasingly being used by organisations to bridge skills gaps
