Semta reveals skills investment profits

Semta, the Sector Skills Council for Science, Engineering and Manufacturing Technologies, told Secretary of State for Innovation, Universities and Skills John Denham that skills training results in measurable benefits.

The organisation revealed that a pilot scheme in the West Midlands found firms which received seed funding of £18,000 realised a £94,000 improvement in profits in a single year.

We are focusing our compact on return on investment by giving employers the skills they need Philip Whiteman

Chief Executive

Semta

In addition, if this scheme, known as the Productivity and Competitiveness (PAC) approach, was rolled out to 50 firms in each English region the UK economy could see a sustainable improvement in profit worth £42 million.

Philip Whiteman Semta Chief Executive, commented: "We are focusing our compact on return on investment by giving employers the skills they need.”

"This training will give measurable economic benefit, technical skills, management and leadership, and increased numbers of apprenticeships" he added.

Mr Denham applauded the achievements of the organisation and suggested an improved Train to Gain system will create a further boost for the UK's workforce skills.

According to Semta, the PAC pilot scheme involved 14 manufacturing companies and saw a total profit improvement of £1.3 million.