There are some key changes happening to the funding that’s available for leadership and management training
There are often incentives available to deliver training. These range from de minimis amounts for small businesses to large scale strategic incentives such as Apprenticeships. Often funding comes through central government – through the Department for Business, Innovation and Skills – but can also come from sources such as European budgets (yes, still) or Local Enterprise Partnerships (LEPs).
Due to the nature of the budgets it’s not always easy for employers to know what’s available to them at any point in time. Here’s an update on the funding available to employers through Impellus.
The Levy has been with us for nearly 18 months now so we’re not far away from the first period where funds are reclaimed by government if they haven’t been spent. Impellus offers the ILM Level 3 Diploma under the Apprenticeship programme.
However, many Levy payers are unaware that 90% funding is available if they spend more on Apprenticeships than they have in their pot. This means that Apprenticeships can be a very cost-effective way of delivering management development.
It’s also rumoured that after April 2019 all employers, not just those paying into the Levy, will be able to access the 90% funding towards Management Apprenticeships.
Funded Training Budget
After four successful years, and having served nearly 7,000 employers, the Funded Training Budget finished on August 31st. Employers who booked qualifying days of training on account prior to this date can still book training into the future at any point.
Future Funding Availabilty
Impellus has been involved in a trial in the North East for the last six weeks around the take up of training to employers when there are full-funding options. The budget is being considered due to the impact that management and leadership skills has on productivity – an area where the UK needs to improve to compete globally. It would provide £1,000 of full funding and up to £59,000 of matched (50%) funding.
Over the course of September, the trials will also cover five other regions across the UK. All employers can benefit and funding can be claimed easily over the phone.