29 Jul How is COVID-19 treating the Vocational Education and Training (VET) industry?
When you consider the VET industry it is worth noting there are 4,013 Registered Training Organisations (RTO’s) which cover 57 Training Packages, 1,429 qualifications and 16,798 Units of Competency. These organisations each deliver a unique selection of VET qualifications (known as their Scope of Registration) and they target their own identified marketplace.
Some RTO’s deal with overseas student and these places are CRICOS registered (Commonwealth Register of Institutions and Courses for Overseas Students). They deliver to overseas students who hold study Visas. Some RTO’s deliver to those under Government funding; often dealing with people who have not had the opportunity to attend University. Some RTO’s are what is known as Fee for Service and these organisations are paid for what they do by the learner or their employer.
As COVID-19 hit the RTO market place there was an immediate downturn and it is easy to see the plight of some RTO’s who have actually seen their business cease to exist. We find this very sad as the dreams and aspirations of the owners and employees are now put on hold or cancelled forever.
HBA is in somewhat of a unique position as it is solely a Fee for Service organisation and circa 60% of our business is from a corporate client base, major organisations which have dealt with us for many years. This plus a strong and positive reputation coupled to the development of our Virtual Classroom (with live trainers and customised learning pathways) has placed us in an enviable position. We figured the virus would hit Australia so we went into development mode in January of 2020, 2 months before it hit the marketplace, when it hit, we simply switched to Virtual Classroom within an hour.
Whilst no one can say with certainty what the future will bring, we can say with absolute confidence, HBA will still be in the marketplace enrolling, facilitating and assessing Learners with a smile on everyone’s face for many years to come.