Boosting Skills and Productivity Through Work-Related Training in Australia

The Committee for Economic Development of Australia (CEDA) has recently released a compelling report, Learning Curve: Why Australia Needs a Training Boost, highlighting a concerning decline in work-related training across Australia, despite its proven benefits for both employees and employers.

Key Findings from CEDA’s Report:

• Higher Incomes and Job Satisfaction: Data reveals that workers’ incomes increase by 20 per cent the year after starting work-related training. Additionally, trained workers report higher job satisfaction and are more likely to receive promotions.
• Increased Productivity: For employers, greater staff satisfaction and engagement, resulting from training, are linked to higher productivity.
• Significant Investment: Employers and employees collectively invest $12 billion annually in work-related training, with $7 billion spent on direct training costs and the remainder on employee time.

Despite these benefits, participation in work-related training has declined by 14 per cent since 2007, affecting 17 out of 19 industries. To address this, CEDA recommends that employers build a culture that values learning, measures the return on investment from training and targets training around compliance. Governments at all levels are being urged to support further work-related training initiatives by developing consistent accreditation and addressing declining literacy and numeracy skills among school students.

In alignment with CEDA’s findings, Governance Institute is proactively addressing the need for enhanced training through its Governance Academy. Our new Governance Capability Framework is designed to support governance professionals at all career stages. This framework outlines the essential skills, knowledge, and mindsets required for governance professionals, ensuring they are prepared for future challenges.

Our soon-to-be released (Jan 2025) range of new short courses, micro-credentials, and postgraduate courses, will cater to different proficiency levels from emerging to expert and are designed in alignment with the Governance Capability Framework. While postgraduate courses are accredited by TEQSA, short courses and micro-credentials are developed and quality assured by Governance Institute. Upon completion of courses, students will receive digital badges, providing a verifiable and shareable record of their achievements.

Governance Institute of Australia aims to foster a culture of continuous learning and professional development. This approach not only enhances individual career prospects but also contributes to the overall productivity and effectiveness of organisations across Australia.

To register your interest in our new programs for 2025, visit our website.