October 2016 Credit Management magazine

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EDUCATION Did you know, for instance, that you can now become a fully qualified lawyer or attain degree and masters level qualifications in a range of disciplines through an apprenticeship scheme? APPRENTICESHIPS: Important changes and opportunities for employers Marcus Bowsher, Managing Director of CICM’s apprenticeship partner, FWD training and consultancy, summarises the main apprenticeship funding arrangements from April 2017. OVER the past three years, there have been significant developments in the world of apprenticeships including new apprenticeships in credit control and collections. Did you know, for instance, that you can now become a fully qualified lawyer or attain degree and masters level qualifications in a range of disciplines through an apprenticeship scheme? This also means that you can utilise apprenticeships to help you develop your staff, including gaining their professional qualifications which can be funded through an apprenticeship scheme. The Government has targeted to double the number of apprenticeships by the end of parliament. In order to support their growth targets, key changes to the way in which apprenticeships are funded are being introduced as follows: 1) The introduction of an apprenticeship levy from May ’17; employers with pay bills over £3M, will have to make a contribution of 0.5 percent of their paybill (minus a £15,000 allowance). Example: total paybill £30M Levy = £30million x 0.5 percent - £15,000 = £135,000. • The levy will be deducted automatically through PAYE into a new digital account being developed by government. • The Government will add a further ten percent to your levy account. • You will have 18 months to spend the money in your account, after which your contribution will be lost. • You can choose from a wide range of apprenticeships that best fit your business needs, across all functions including credit management, IT, HR and management development. • You can run apprenticeships for both new starters and existing staff, from age 16-65. • Apprenticeships are available from GCSE level right up to degree and masters level. We strongly advise you to start planning now for the introduction of the levy. CICM’s apprenticeship partner, FWD Training and Consultancy, can discuss with you how the levy will affect you, what you need to do to be ‘levy ready’ and how to optimise value from your levy payment. 2) Employers not paying the levy as above will be able to use Government funding to deliver apprenticeships, by contributing ten percent of the apprenticeship cost, with the Government paying the other 90 percent. Small employers with fewer than 50 people working for them will be able to train 16 – 18 year old apprentices at no cost Visit the CICM website to see how you can access this funding to develop new or existing staff. SOME MYTH BUSTERS Myth buster 1: - ‘…apprenticeships are generic and aren’t really appropriate to our business…’ CICM has been at the heart of developing new apprenticeships for the sector. Two new specialist Credit Management apprenticeships have now been approved as follows: • Credit Controller/Collector - includes CICM Level 2 Certificate level qualifications • Advanced Credit Controller/Debt Collector Specialist – Includes Level 3 Diploma qualifications Myth buster 2 – ‘…apprenticeships are for traditional ‘trades’, not for professional roles …’ Historically, apprenticeships have been seen as a route to support the development of traditional ‘trades’, in other words applicable to practical, less academic roles. However, the Government’s vision is to develop the apprenticeship brand to represent all jobs and professions, wherever there is an employer determined requirement for skills development. Myth buster 3: - ‘…apprenticeships are for school leavers …’ Firstly, anyone between the ages 16 to 65 can take an apprenticeship. Secondly, existing members of staff can also enrol onto apprenticeship programmes. So you can consider the wide range of potential candidates already working in your business who could benefit from progression through apprenticeship schemes and the funding available. 46 October 2016 www.cicm.com The recognised standard
‘‘ CICM CICM has signed up it’s first apprentices from Aggregate Industries, Smiths News and Adecco on to the Level 2 apprenticeship in credit control and collections. The first CICM virtual course will start in November with further courses planned for next year. Contact CICM to find out how to join a CICM group or one of CICM’s learning providers. CICM has developed a new, highly interactive course which will cover all the basics in credit control plus business communications and personal skills. During the course apprentices will complete assignments to gain CICM qualifications in addition to the apprenticeship. regards the new apprenticeships as a fantastic opportunity for the credit profession. Potentially you could qualify your team over the next few years, while favourable funding is in place, recruit and grow new talent. Debbie Tuckwood BA(Hons) FCIEA Doc Soc Sci DIRECTOR OF LEARNING AND DEVELOPMENT BEGINNERS ABSOLUTE SMITHS NEWS “We are extremely pleased to be able to give our existing Credit Control staff the opportunity to back-up their experience with a recognised industry qualification. We place a strong focus on training and development, and are committed to growing our internal talent - providing employees with excellent opportunities for progression. Smiths News are proud to be one of the first companies to sign one of our employees up to the CICM apprenticeship, and are confident that the programme will provide additional support, knowledge and skills for our future apprentices.” Tina Cronin Credit Control Manager Smiths News ADDECCO Adecco decided to embark on the apprenticeship programme at the beginning of this year. The aim is to improve skills by supporting young people’s entry into work and helping our existing team to upskill and reskill. Adecco recruited three apprentices to credit control in September. A dedicated team and buddy system with our learning support partners (FWD Training and CICM) will work together to ensure that we do our best for them and help them succeed to become our managers of the future. We hope that other members of our team will join the apprenticeship programme next year. Debbie Matthews. Credit Manager - Adecco Group UK and Ireland The recognised standard ‘‘ AGGREGATE INDUSTRIES “Hi, I’m Bradley. I have been at Aggregate Industries just over a month, straight out of school having completed my GCSEs, and I’ve been amazed at how friendly and helpful everyone is. They couldn’t be more supportive. I’m studying online for my CICM Level 2 Apprenticeship in Credit Control. This will assist me in my training programme within the Order 2 Cash department, and help me progress to becoming a credit controller and then Credit Manager.” The decision to select Bradley from all the other candidates who applied, was the positive attitude, the vision for success (for a young person who recently only turned 16) and the drive he has to reach his goals. He will certainly add value to the department and the company, as he is striving to learn about credit, and actively help his team in anyway he can. Bradley is also the first candidate to enrol onto the Trailblazer – which both he and Aggregate Industries are very excited about! Naimesh Khetia Senior Specialist - North England and Scotland Aggregate Industries www.cicm.com October 2016 47
Page 1 and 2: CREDIT MANAGEMENT CM OCTOBER 2016
Page 3 and 4: CONTENTS OCTOBER 2016 www.cicm.com
Page 5 and 6: DO NOT MISS OUT! in association wit
Page 7 and 8: CICM NEWS DEBT CASTS SHADOW OVER YO
Page 9 and 10: FORGOTTEN CHEQUES COST COMPANIES DE
Page 11 and 12: DO YOU KNOW THETRUE IDENTITYOFYOUR
Page 13 and 14: RE-ACCREDITATION FOR FORTUNE 500 FI
Page 15 and 16: OPINION PASSING THE BATON Bryony Pe
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Page 19 and 20: FEATURE SPECIAL Meanwhile, FFA’s
Page 21 and 22: The recognised standard www.cicm.co
Page 23 and 24: FEATURE SPECIAL is a mutual scheme
Page 25 and 26: Shortlisted for the CICM award for
Page 27 and 28: FEATURE SPECIAL THE SHIP SETS SAIL
Page 29 and 30: TRADE TALK OLD PROBLEMS, NEW TRICKS
Page 31 and 32: ONE FOR THE ROAD THE June EU refere
Page 33 and 34: Customs law involves a tariff (aver
Page 35 and 36: DOES YOUR TRADE CREDIT BROKER STAND
Page 37 and 38: With so much uncertainty in so many
Page 39 and 40: continued from page 38 > in 2012; a
Page 41 and 42: ADVERTORIAL IS THE CREDITWORLD REIN
Page 43 and 44: Sector Sector Region Getting Better
Page 45: It is not always appropriate to hit
Page 49 and 50: NEW CICM MEMBERS THE INSTITUTE WELC
Page 51 and 52: The recognised standard For further
Page 53 and 54: If you need to find someone and if
Page 55 and 56: EAST MIDLANDS BRANCH CASTLE ROCK BR
Page 57 and 58: SENIOR REVENUE ANALYST DRIVE BUSINE
Page 59 and 60: Cr£ditWho? CICM Directory of Servi
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Page 63 and 64: CREDIT MANAGEMENT CM MONTHLY PRIZE

October 2016 Credit Management magazine

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