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Calculating the Advantages in Freight and Logistics Sector

  • General News
  • 14th March 2016

Advantages of Apprenticeships Evaluated for Job Providers and Would Be Employees 

In March Skills for Logistics launched a website dedicated to helping would be professionals in the freight and logistics sector evaluate the advantages of taking up an apprenticeship in their chosen profession, whilst employers can gauge the financial benefits of entering into an apprenticeship programme. The Skills Calculator is proving to be a resounding success and in just two months the website has already been visited by over 1500 individuals with 400 members joining the on-going discussions on the Skills Calculator’s LinkedIn page.

The Skills Calculator is a free-to-use web tool that provides insights into the financial benefits of investing in workplace skills and career development across the UK Logistics industries. Employers can calculate their return on investment of hiring and training an individual on a Logistics Apprenticeship.

The Skills Calculator works on a simple question and answer basis using the display screen and option buttons and, via a series of calculations, estimates a desired numerical value for its user. For employers the calculations will consider the many variable costs and benefits associated with employing an apprentice, such as; employee productivity, possible government funding, apprenticeship training costs and employee salary levels. Once all of the necessary information has been entered, the eventual outcome will provide the employer, at a glance, with an overall Return on Training Investment (RoTI) percentage value to estimate how good (or bad) any particular investment they are investigating could be.

For individuals, the tool will allow them to investigate average salary estimates for all of the key job roles within the logistics sector, 150 such positions are featured, either to discover the average salary estimate for their current position or to investigate a job role that interests them. Individuals are asked to select from items such as: job function, including driving, storage & warehousing, supply chain operations and with career levels, from trainee and management roles, up to and including, director level. They can then select a job role from the list of occupational roles, before finally choosing their preferred work location and experience of working in their selected role. The final salary figure will incorporate all of the data to estimate their expected annual earnings.

Support for the project has come from across the logistics and employment spectrum with institutions such as the Logistics Guild, Delivering your Future, Mercia College, Fetch!, Apprentice Supermarket and Inspire Education backing the programme. Michelle Tait, Marketing Executive, for the Institute of Supply Chain Management, commented:

“The Skills Calculator is an effective way to demonstrate the long term benefit of investing in such courses. The new online tool is easy to use and provides both individuals and employers with an understanding of the importance of developing skills and knowledge in the workplace and the impact this can have on earning potential and income to the business.”

You can check out the Skills Calculator HERE.

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