Over 40% of Maritime Firms Fail to Fund Training

Global research recently conducted by Lloyd’s Maritime Academy has revealed that over 41% of people surveyed still receive no funding from within their business for training, with a mere 20% stating that they receive 75-100% funding.  

Following over 500 responses from professionals around the world and from different sectors of the maritime industry, the research also highlighted that there is still an alarmingly high percentage of companies experiencing a retention problem.  Ted Bailey, Head of Digital Learning at Lloyd’s Maritime Academy states: “Given the funding figures it comes as no surprise that we had 40% of our respondents answer yes to the question: ‘Is retention a challenge for your business?’.  The industry clearly has some way to go with regards to retaining talent and career progression.”

Early 2019 saw the UK’s Department for Transport set out its vision for people in maritime as part of its ‘Maritime 2050: Navigating the Future’ strategy document.  Here it was noted that a solid partnership between universities, training institutions, government, regulators and maritime companies is critical if the UK is to provide the training needed to maximize the maritime workforce’s global footprint at sea and on shore, long into the future.

Ted continues: “This type of futuristic outlook is encouraging, and everyone involved in the industry needs to champion the vision.  The sector to date hasn’t been particularly effective at long term succession planning – if it was, then training would be a far greater and higher priority. 

Companies need to be demonstrating more commitment to training and invest time in mapping out a variety of career paths to not only help attract new people but ensure that the talented individuals they already have within their business stay for the long-term.”