The Government is examining a “staggering” €1.5 billion surplus in the National Training Fund in areas such as upskilling courses for workers affected by the rise of artificial intelligence and other changes in the world of work.
It follows a recent OECD skills review for Ireland which warned that many Irish adults are at risk of falling behind as they do not have the right skills to thrive in their current employment and are unprepared for changes to come.
It recommended using a surplus in the National Training Fund (NTF) to address these risks and improve incentives for employers to take advantage of education and training.
The NTF, which is funded by a levy on employers, has been growing due to a rise in employment and Government restrictions on spending given that the funds are defined as normal expenditure on the State’s balance sheet.
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However, Government departments are reviewing options for tapping into the surplus and have requested submissions from education providers and employers on how these funds could be used most effectively.
Speaking on Wednesday, Minister for Further and Higher Education Simon Harris said there was clearly unfilled potential in what he described as a “staggering” surplus.
He said his department was working closely with the Department of Enterprise to make the case to the Department of Public Expenditure for additional investment that could be “transformational”.
The need to upskill was clear due to rapid changes such as artificial intelligence, digital transformation and demand for green skills to meet climate targets.
Mr Harris was speaking at the launch of a new micro-credentials platform aimed at assisting people seeking to upskill and reskill.
Seven of Ireland’s top universities have joined forces to provide more than 300 short, flexible and accredited courses through the MicroCreds.ie platform. The courses, typically between six and 12 weeks, are delivered either fully or partially online. Costs vary from €450-€2,500.
The €12.5 million MicroCreds project aims to reimagine the learner’s education experience through accessible and bite-sized qualifications.
The Irish Universities Association said the platform was “the first of its kind n Europe” would make lifelong learning more accessible for individuals and employers.
Speaking at the launch, Mr Harris said it was vitally important that we find ways to make it easier for learners, employees and employers to access upskilling and reskilling opportunities that will help improve their education and in turn, address skills shortages.
“Microcredentials are a fundamental shift in our approach to education and training. It recognises that, in an ever-changing world, learners, employees and employers need to be able to keep up with the demands of the modern workplace,” Mr Harris said.
These courses, he said, will help deliver this providing targeted, up-to-date skills in flexible and accessible formats to bridge the skills gap and empower individuals to excel in their chosen fields.
Also speaking at the launch, Minister for Enterprise Simon Coveney said the MicroCreds project sees enterprise and universities work together to address the skills gaps in industry.
Learners can choose from an array of micro-credentials tailored to their career goals, while companies can also use the site to upskill and reskill their workforce in a way that suits the employee and the employer.
“Upskilling and reskilling is essential for companies to adapt to changes in technology, retain talent, enhance productivity and remain competitive,” Mr Coveney said.
Jools O’Connor, project lead for the initiative at the Irish Universities Association, said MicroCreds was a five-year project that aims to reimagine how people engage with lifelong learning and upskilling in Ireland.
“Through our work with our seven partner universities we are putting the building blocks in place to develop a national framework and understanding of micro-credentials, making us one of the first countries in Europe to do this at a national level,” Ms O’Connor said.
