VET News

Staff and Student Investment a High Priority for RTO Leaders in 2023

Australia’s RTO leaders have expressed optimism that their education offerings will continue to improve in 2023, as a tapering of Covid impacts on the sector propels further investment in staff salaries and training, an increase in marketing spend, and heightened revenue stability and growth.

What do RTOs name as their biggest challenges and opportunities in 2023?
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Fifty-eight per cent of RTO leaders surveyed reported that business grew or remained stable in 2022, marking a significant improvement on the half who reported business contractions in 2020 and 2021.

Almost one half of RTO leaders surveyed (48%) plan to capitalise on better conditions by increasing the amount they pay employees, with 90% revealing they think staff talent and training was the factor that will have the highest impact on their RTO’s student learning and experiences this year.

Renewed confidence is also driving an appetite for investment, with a larger proportion of RTOs expecting student acquisition strategies (56%) and marketing spending (51%) to be factors in propelling their RTO forward.

Trevor Fairweather, ReadyTech General Manager of Education said the sector’s confidence is rebounding significantly, with RTOs seeing a greater investment in people, as well as staff and student experiences, as key platforms for growth into the future.

“The resilience of RTOs has been tested during the pandemic. Senior RTO leaders feel they have weathered the storm, and now intend to invest in student acquisition, as well as the staff they need to deliver exceptional experiences.”

For more cutting-edge insights into the Australian VET & RTO landscape, download the full
2023 Voice of VET Report here: readytech.io/VoiceofVET

Date posted Mar 2, 2023