Skills Bootcamps offer an exciting opportunity to gain in-demand skills and boost your career prospects. However, understanding the funding structure behind these programs is crucial for both learners and providers. This article delves into the milestone payments associated with Wave 3 Skills Bootcamps, helping you grasp how payments are distributed and tracked.

 

What are Milestone Payments?

Milestone payments are a phased funding system for Skills Bootcamps. Instead of receiving a lump sum upfront, providers claim funding at specific points throughout the program based on achieving predefined milestones. This ensures efficient use of resources and incentivizes successful program completion.

 

 

The Breakdown:

The Wave 3 Skills Bootcamp funding model incorporates three key milestones:

  1. Learner Start (45%)
  2. Learner Completion (35%)
  3. Learner Outcome (20%)

 

 

Milestone 3 Payments:

The final milestone focuses on achieving a positive outcome, which can be:

  • Fully funded/independent learners: A new job (lasting at least 12 weeks) or an apprenticeship utilising the acquired skills.
  • Employer co-funded learners: A new role or increased responsibilities within their existing company, utilising the new skills.
  • Self-employed learners: Securing new contracts or opportunities utilising the acquired skills.
  • Important: Learners must complete the training program to be eligible for this outcome payment.

 

 

Tracking and Measurement:

Effective tracking and measurement are essential for both learners and providers to ensure timely and accurate milestone payments. Providers are responsible for maintaining proper records, including:

  • Learner attendance and progress: Track learner participation and completion of required learning hours.
  • Assessment results: Document successful completion of all necessary assessments.
  • Job offer/apprenticeship confirmation: Obtain written confirmation of job offers, apprenticeship interviews, or new opportunities for self-employed learners.

By diligently tracking these metrics, providers can demonstrate achievement of milestones and claim their rightful funding.

 

 

Track Evidence for Milestone 3 Payments with Purlos Destinations:

Understanding and achieving milestones is crucial for providers in the Skills Bootcamp ecosystem. However, accurately tracking student destinations and collecting evidence for job offers or apprenticeships can be a complex task. This is where Purlos Destinations steps in.

 

Purlos Destinations leverages the power of automated communication, specifically through WhatsApp, to streamline data collection and gather vital information from learners. Our platform simplifies the process of:

  • Tracking student destinations: We automate communication, ensuring live destination updates on program completion.
  • Collecting job offer/apprenticeship evidence: Purlos facilitates secure and efficient collection of documents like offer letters or apprenticeship confirmation, fulfilling the requirements for milestone payments.

 

By partnering with Purlos Destinations, Skills Bootcamp providers can ensure they have the necessary evidence to claim their rightful funding while streamlining the process for learners. This allows providers to focus on delivering exceptional educational experiences, confident in the knowledge that they have a reliable system in place to track progress and meet funding requirements.

 

 

Conclusion:

Understanding milestone payments empowers both learners and providers to navigate the Skills Bootcamp funding landscape effectively. Learners gain clarity on program expectations and potential outcomes, while providers ensure proper resource allocation and receive timely funding based on program progress. Remember, effective communication and transparent tracking processes are key to a successful Skills Bootcamp experience for all stakeholders.