Itec gives £500 cost of living payment to employees

Posted on by karen.smith


English | Cymraeg

Portrait image of Ceri Murphy, Managing Director Itec Skills and Employment

Ceri Murphy, Director Itec Skills and Employment

Amid growing concerns about rising living costs, Itec Skills and Employment a leading provider of work-based learning programmes based in Cardiff have given a one-off £500 cost of living payment to help their employees with increasing energy, food and living expenses.

As an Employee-Owned Trust (EOT), they were able to offer this £500 payment to their staff completely tax-free. The payment was received by members of staff who have been employed at the company since October 31, 2022 and is just one of the many ways that they aim to support their employees and their families and help maintain their people-oriented.

Itec proudly became the first independent training provider in Wales to be employee owned in 2019, with 100% of the business now being owned by their employee-owners. Itec employ 180 people at 12 offices across Wales, all of whom benefit from the EOT model which includes a personal stake in the company and achievement-based rewards.

Ceri Murphy, Managing Director at Itec said:

“One of the driving motivations for us implementing the Employee-Owned Trust (EOT) model was the fact that we wanted to encourage a culture of unity. A culture that we would like to build on to allow us to continue creating jobs, building careers, and investing in people.

“No matter who you are, whatever level you are in the business, you have an equal stake as everyone else. It’s a means of retaining and rewarding our staff for the hard work that they do, or in this case, supporting them in challenging times.”

For Itec employees, the EOT model not only makes their work more meaningful, they are able to see how their personal accomplishments then translate into the success and growth of the business as a whole. Putting the organisation in the hands of employees who have the same values, ethos, and culture as its founders helps guarantee the security and independence of Itec in the long-term.

Julie Dyer, Head of Operations at Itec, said: “Across the country people are struggling with the rising cost of living and we were very keen to be able to help contribute towards easing any worry for our staff. This cost of living payment is a way for us to show our employees that we care about their wellbeing and that they are taken care of.

“Our work has made such a positive impact on the communities we serve and has made a massive difference in the lives of our participants, which we owe to our people-centred culture. We hope that we can continue to help people reach their full potential with the help of our hardworking and dedicated staff.”

Itec has a long history of offering work-based learning and training programmes, with over 40 years of experience in the field.

In Wales, they have a strong partnership with the Welsh Government and are contracted to deliver the £200m Jobs Growth Wales+ programme and the Restart programme. In addition to these programs, they also offer a wide range of apprenticeships across Wales to help participants develop their skills and gain qualifications.

Itec have numerous commercial training contracts and relationships in London, providing even more opportunities for individuals to advance their careers through hands-on, practical learning experiences.

Itec Skills and Employment

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