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Get behind the logistics skills credit union

03 February 2014

All is not rosy for skills in the logistics sector. Many companies are operating at low margins and can scarcely afford to invest in training their employees.

And yet there is great need for the logistics sector to upskill employees to meet future challenges, as well as attract workers to replace those who will soon retire.

Skills for Logistics – with financial adviser Promethion and other industry partners – is sponsoring the opportunity to establish The Logistics Guild Credit Union, which will provide a cost efficient source of borrowing for the Logistics Sector.

This has the potential to be a significant force for employee mobility within the logistics industry and help people get ahead in life. It will also help employers find the ‘job ready’ employees they crave.

SfL CEO Ross Moloney told me: "This will stop people going to high interest short term loan providers. The mainstream banks can be reluctant to make money available for these kind of loans, but an option is needed for people who want to get ahead in logistics.

"Some people think the employer or the state alone should pay for training, but I want to enable people who want to invest in their own future too. If you look at university education, for example, the genie is out of the bottle. It is accepted that if you want to train you borrow against future earnings.”

The logistics industry is still recovering from the recent collapse into liquidation of the National Skills Academy Logistics.

SfL helped to gain the funding for the ill-starred academy and is working on funding for the Credit Union.

For me, the similarities end there. I believe The Logistics Guild Credit Union will have a significant impact on the logistics industry and is deserving of the industry’s support.

The revamped SfL will push the project forward with professionalism but the key factor for me is that this is the right project at the right time. There is a need for skills, yet there is reluctance among employers and the state to fund everything. 

This project will fill the gap with affordable credit and allow ambitious, upwardly-mobile logistics staff to push on with their careers.

The last word with Ross. 

"This could be a game changer. It can help a guy that runs a small firm get affordable management training, for example. I believe in human capital. Training can have a profoundly positive impact on productivity and the bottom line.”