Itec Training Solutions (Cardiff)

Origins

ITEC Training Solutions was formed to take over a Welsh Government skills contract which had previously been delivered by a “not for profit” organisation. This organisation had failed to create a sustainable business model and the motivation was therefore to create a sustainable business which would be capable of delivering government skills training to the quality, volume and consistency required; to offer staff a long term future with the prospect of growth and to take the core business and grow it organically, by diversifying and by acquisition. The challenges were reacting to the changes imposed by government, both central and devolved, in the highly political arena of skills and employability; effectively managing the expansion of the business, in particular finding the best human resource available to deliver the growth; and integrating acquired business.

Success Factor

Having a strategic plan in place has allowed the directors to focus on growth targets and the operational plans created have enabled the management team to achieve the performance targets that has allowed the company to secure growth in its contracts. The introduction of a performance management approach to delivery in an industry where this had not existed before has resulted in a qualification achievement rate up from 55% to 90%. As a result of this, the Welsh Government has awarded ITEC substantially increased contracts at every renewal and the company have also been able to acquire business in England. Finally, having key personnel in place ahead of the growth has enabled the firm to manage the growth effectively whilst continuing to deliver improved performance. ITEC has a professional and dedicated senior management team who are largely responsible for the success of the business over the last 5 years.

The Future

ITEC has a strategic plan to achieve £20 million turnover by 2016 although in its market, it is difficult to look five years ahead because of possible changes in Government policies. ITEC, through its historic performance, and scale is well positioned to achieve further growth in its current markets. However, the main thrust will be to diversify the source of revenue by entering new, ancillary markets, new geographies and through acquisition where suitable opportunities arise. The English skills marketplace remains a firm target but has been in a state of flux over the past 24 months, with the implementation of significant policy shifts.