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Logistics Guild mulls pay-as-you go training

  • 11 July 2013
  • By Andrew Stone

Members of the fledgling Logistics Guild could be given help to pay for industry training in small increments as part of the its planned credit union, which could launch early next year if the regulator gives it the go ahead.

Skills for Logistics (SfL) is in the advanced stages of preparing a credit union and is examining the possibility that it could help guild members by letting them pay for training loans in small instalments which could be deducted at source from their wages.

Mick Jackson, chief executive of SfL, said a driver taking out a loan in this way would take it with them to their new employer if they left their original employer. The idea is that this would make investing in training easier for drivers who would not have to pay up front for training. It would also encourage employers to invest more in training by reducing some of the risks of them paying for training and then losing them to rivals.

Jackson also suggested this would create incentives to encourage matched funding training schemes between employer and employee. He described plans for the credit union as being at an advanced stage. “I would hope to have the union up and running in the early part of next year, although we are in the hands of the regulator.”

In April the UK Commission for Employment and Skills granted two years of funding for the credit union, effectively giving it the green light.

SfL is now waiting for the go-ahead from UK the Financial Conduct Authority, the UK’s new financial regulator. The sector skills council started the roll out of its Logistics Guild last autumn.

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Article source: http://www.commercialmotor.com:80/latest-news/logisitcs-guild-mulls-pay-as-you-go-training