which anticipates welcoming its new learners as early as September 2008 will deliver talent for hospitality employers – showcasing the very best, and raising the bar by developing world class training. The National Skills Academy network currently has seven active sectors – including construction, financial services, manufacturing and fashion retail – and is made up of innovative employer-led centres of excellence, delivering training specifically to meet each sector’s needs.
The 2012 London Olympic and Paralympic Games will also provide the focus needed for the industry to raise skills standards significantly and ensure the industry attracts, retains and develops a high quality workforce. The hospitality industry has been called upon to strengthen its partnership with the 2012 London Olympic team and seize the massive opportunity the Olympic Games presents for the sector. Lord Sebastian Coe has acknowledged that the industry’s support early on in the bid process had been vital. VisitBritain estimates that the tourism legacy from the 2012 Games will be in the region of £2bn.
There is an increasing focus on skills development achieving economic success as highlighted in the recent Leitch report ‘Prosp
erity for all in t e Glob h al Econ omy: Wrld o
Class Skills’ issued in December 2006. The report maintains that low level skills can hold back productivity and growth and if not addressed will result in increasing inequality and the marginalisation of some groups within the labour market. The challenge is to connect the Leitch Review’s aspirations and recommendations to develop an education and training system that works for everyone, maximising the benefits to individuals, organisations and the economy.
The report ‘Skills in a Global Eonomy ‘ by City & Guilds emphasised that the ability of c
companies and national economies to flourish or flounder will increasingly be based on the skills levels of their workers. The report also highlights the radical shift in the traditional workforce structure, with progressively fewer young people entering the workforce and older workers forming an ever larger segment of employment. The skill levels required for employment will continue to rise, whilst the flow of new skills and capability through young recruits will become rarer. This change – caused by the fall in the UK birth rate, increase in longevity and in the pace of technological and business change – will mean that the success of the national economy will become increasingly dependent on the skills of those adults already in the workforce.
The Trustees consider that in fulfilling the main aim of the Trust, namely the advancement and de withi
n the hosp italit y indusry, they are investing in both the present and future
velopment of educat t
skills needs of the industry. This is also in keeping with the government’s plans to ‘help develop a modern further education system that contributes fully to the nation’s vocational skills’. In working with interested bodies and partners the Trustees are striving to make a tangible difference and impact on the continuing development of an industry that, as highlighted earlier, is both a major employer and contributor to the UK economy.
For the year under review the total incoming resources for the Savoy Educational Trust amounted to £1,488,202, (9.34% increase on 2007: £1,361,071) with total resources expended amounting to £924,625 (14.87% decrease on 2007: £1,086,206). Resources expended for the year under review can be broken down as follows (see als
o Tble 1):- a ion, training and qualifications
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